Overview
What is Polk County Community Foundation Inc?
Polk County Community Foundation Inc is a nonprofit organization situated in Tryon, North Carolina. Its primary role is to enhance the well-being of the local community by distributing funds from various endowments to deserving projects led by local nonprofit organizations. This support extends to awarding scholarships to local students, providing resources and meeting spaces for nonprofits, and administering planned giving programs. The foundation manages over 200 charitable funds, working in cooperation with institutions to efficiently achieve its charitable, cultural, educational, and publicly beneficial objectives. It also collaborates with both individual and organizational donors to establish funds for specific purposes or to address community needs as they evolve.
Official website here: www.polkccf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star rating
Polk County Community Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, with an overall score of 97%. This high score indicates exceptional accountability and financial health, as the rating is derived solely from its accountability and finance metrics. The organization demonstrates a strong commitment to transparency and effective governance, with 100% of its board members being independent.
The foundation has received perfect scores in numerous categories, including its audit and oversight committee, financial practices, and the absence of material diversion of assets. Furthermore, it maintains an exemplary program expense ratio of 76.86%, indicating that a significant portion of its funds is directed towards its mission-related activities. The fundraising efficiency is also noteworthy, with an outstanding cost of just $0.08 to raise each dollar.
While the data showcases robust financial management and a solid governance structure, maintaining this high level of performance will be crucial for future operations. Overall, Polk County Community Foundation Inc stands out as a well-managed nonprofit with a clear focus on accountability and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Polk County Community Foundation Inc legitimate?
Polk County Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Polk County Community Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $201,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $213,767
For more financial information, click here
Official website here: www.polkccf.org
What is the mission statement of Polk County Community Foundation Inc?
The Polk County Community Foundation Inc's mission is to manage funds entrusted to it, supporting charitable, cultural, educational, and publicly beneficial activities within the community. This is achieved by both directly funding such projects and collaborating with qualified institutions to carry out these objectives efficiently. The foundation works with donors, both individuals and charitable organizations, to establish funds for specific purposes or objectives, such as supporting cultural events, promoting agriculture, providing free activities for youth, improving classroom teaching, and so on. Additionally, the foundation awards scholarships to local students and allows its board to address the evolving needs of the community using unrestricted funds.
Official website here: www.polkccf.org
Who is the CEO of Polk County Community Foundation Inc?
Sherry M Carter is the Chair of Polk County Community Foundation Inc. The CEO's salary of Polk County Community Foundation Inc is $201,250 and their total compensation is $228,380.
Official website here: www.polkccf.org
What is the revenue of Polk County Community Foundation Inc?
Polk County Community Foundation Inc's revenue in 2022 was $3,247,757.
Official website here: www.polkccf.org
Who are the executives of Polk County Community Foundation Inc and what are their salaries?
The average compensation at Polk County Community Foundation Inc during 2022 was $69,170. There are 6 employees and 30 volunteers at Polk County Community Foundation Inc.
Here are 10 key members and their salaries (Polk County Community Foundation Inc's CEO's salary is $201,250 and their total compensation is $228,380):
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- Compensation: $201,250
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- Other: $27,130
Official website here: www.polkccf.org
Where can I find the form 990 for Polk County Community Foundation Inc?
Polk County Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.polkccf.org
Learn more at the official website: www.polkccf.org
Mission Statement of Polk County Community Foundation Inc
Polk County Community Foundation, a charitable organization, is committed to managing funds entrusted to it with the primary objective of supporting charitable, cultural, educational, and publicly beneficial activities within the community, primarily centered around Polk County, North Carolina. The foundation achieves this mission through a variety of methods. It directly expends funds for these purposes, cooperating with institutions that are best suited to carry out these objectives efficiently.
Additionally, Polk County Community Foundation works closely with donors, both individuals and charitable organizations, to establish funds that benefit specific charities or aim to achieve a particular objective, such as funding cultural events, promoting agriculture, providing free activities for youth, or improving classroom teaching, among others. Moreover, the foundation awards scholarships to local students and allows its board to address the evolving needs of the community by utilizing unrestricted funds. In essence, Polk County Community Foundation plays a critical role in supporting the community's charitable endeavors and addressing its changing needs.
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Impact
July, 2024
Polk County Community Foundation Inc's impact is significant in the Polk County, NC area. They improve the quality of life by awarding grants to support local projects, providing scholarships to students, distributing endowment fund income, administering planned giving programs, offering resources, meeting spaces, and assisting local organizations and donors in achieving their charitable goals. They administer over 200 charitable funds, working with individuals and organizations to establish funds that benefit named charities and address community needs efficiently. Their mission is to support charitable, cultural, educational, and publicly beneficial activities in the community centered in and around Polk County, NC, thus making a positive impact on the area.
This information is meant to be a general summary of Polk County Community Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $902,156
- Gross Receipts: $9,102,307
Assets and Liabilities:
- Total Assets: $56,500,870
- Total Liabilities: $3,867,528
- Net Assets: $52,633,342
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Organization Details
Founding Year
1975
Phone
(828) 859-5314Principal Officer
Sherry M Carter
Main Address
255 SOUTH TRADE STREET, TRYON, NC, 28782
Website
www.polkccf.orgNTEE Category
Code: T31Z - Philanthropy
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