Overview
What is Frostproof Chamber Foundation Inc?
Frostproof Chamber Foundation Inc, with its headquarters at 15 E WALL ST, Frostproof, Florida 33843, is a nonprofit organization dedicated to revitalizing and managing the historical Ramon Theater as a communal hub for the local area. Their mission encompasses offering cultural experiences and entertainment through music series, attracting over 1000 attendees from the community in 2021. Despite the interruption caused by COVID-19, the foundation anticipates growth in future events. With a single employee, Frostproof Chamber Foundation Inc strives to contribute positively to the cultural landscape of Frostproof.
Official website here: www.theramontheater.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (57%)
The Frostproof Chamber Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding accountability and finance, with an overall score of 57%. The rating heavily relies on the organization's accountability and finance score, which reflects its financial practices and governance. The nonprofit did well in certain governance aspects, earning full points for having a majority of independent board members and maintaining essential policies like conflict of interest and whistleblower protections.
Despite these strengths, the foundation's financial metrics reveal challenges. The liabilities to assets ratio is notably high at 6.42%, which contributed to a lack of points in this area. Additionally, the program expense ratio stands at 46.44%, indicating that less than half of the expenses are directed towards program services, which may raise questions about the efficiency of resource allocation.
Overall, while the Frostproof Chamber Foundation demonstrates solid governance practices, its financial health and programmatic spending need significant improvement to enhance its rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Frostproof Chamber Foundation Inc legitimate?
Frostproof Chamber Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Frostproof Chamber 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $13,439
For more financial information, click here
Official website here: www.theramontheater.com
What is the mission statement of Frostproof Chamber Foundation Inc?
The Frostproof Chamber Foundation Inc's mission is centered around renovating and operating the historical Ramon Theater as a communal space, functioning as a civic center. Their primary objective is to provide cultural experiences for the local community. The foundation organizes music series, offering a diverse range of tunes, to cater to the entertainment needs of the residents. The music series has garnered significant attendance, with over 1000 people participating in 2021. Despite initial plans for expansion, the COVID-19 pandemic led to the cancellation of several events, indicating the challenges faced in maintaining cultural activities during a global health crisis.
Official website here: www.theramontheater.com
What is the revenue of Frostproof Chamber Foundation Inc?
Frostproof Chamber Foundation Inc's revenue in 2023 was $126,698.
Official website here: www.theramontheater.com
Who are the executives of Frostproof Chamber Foundation Inc and what are their salaries?
The average compensation at Frostproof Chamber Foundation Inc during 2023 was $13,439. There is 1 employee and 75 volunteers at Frostproof Chamber Foundation Inc.
Here are 6 key members and their salaries:
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Official website here: www.theramontheater.com
Where can I find the form 990 for Frostproof Chamber Foundation Inc?
Frostproof Chamber Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theramontheater.com
Learn more at the official website: www.theramontheater.com
Mission Statement of Frostproof Chamber Foundation Inc
The Frostproof Chamber Foundation Inc is dedicated to renovating and operating the historical Ramon Theater in Frostproof for the purpose of transforming it into a community civic center. Their mission encompasses providing cultural experiences and entertainment for local residents. In 2021, the foundation organized a series of seven musical events that were attended by over a thousand people, showcasing a diverse range of music. Despite the challenges posed by COVID-19, the foundation anticipates growth in future events. The foundation's activities aim to enrich the community culturally and entertainment-wise, providing residents with engaging experiences.
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Impact
August, 2024
Frostproof Chamber Foundation Inc's impact is evident through their dedication to reviving the historical Ramon Theater in Frostproof and transforming it into a vibrant civic center for the community. Through their music series, they have successfully brought together residents to enjoy a diverse range of cultural and entertainment experiences. The series, which attracted over 1000 attendees from the local area in 2021 despite facing challenges posed by the pandemic, serves as a testament to the foundation's commitment to providing enriching arts opportunities. By fostering a sense of community and offering a platform for artistic expression, Frostproof Chamber Foundation Inc plays a significant role in enhancing the cultural landscape of Frostproof, Florida.
This information is meant to be a general summary of Frostproof Chamber 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 2023.
- Investment Income: $4
- Gross Receipts: $128,442
Assets and Liabilities:
- Total Assets: $514,296
- Total Liabilities: $38,727
- Net Assets: $475,569
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Organization Details
Founding Year
2006
Principal Officer
Vicky Alley
Website
www.theramontheater.comNTEE Category
Code: S20 - Community improvement
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