Overview
What is Venable Foundation Inc?
Venable Foundation Inc, established in Baltimore, Maryland, is a public charity dedicated to serving the community. Its mission is to promote the well-being of local communities where their clients and lawyers reside and work. The foundation supports a diverse array of civic, cultural, and charitable endeavors, with a particular focus on legal assistance and education programs. Venable Foundation Inc provides financial backing to various tax-exempt organizations, contributing to charitable, cultural, or educational services for the general public. This nonprofit organization is committed to improving the lives of its community members by investing in various initiatives and projects.
Official website here: www.venable.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Venable Foundation Inc holds a Two-Star out of Four Star rating from Charity Navigator, reflecting an overall score of 65%. This rating indicates that while there are some strengths, particularly in terms of financial efficiency and program expense ratio, there are significant areas that require attention, especially governance and accountability practices.
One notable strength is the foundation's strong program expense ratio, which stands at 100%, suggesting that all funds raised are directed towards its programs. Additionally, the organization demonstrates good practices in terms of conflict of interest and whistleblower policies, which are important for maintaining ethical standards. However, the complete absence of independent board members raises concerns about governance and oversight.
Furthermore, the foundation has not provided financial statements, which negatively impacts its accountability score. The lack of independent oversight, coupled with limited working capital, suggests potential vulnerabilities in financial stability and governance. To improve its standing, the Venable Foundation Inc would benefit from enhancing its board independence and transparency in financial reporting.
This AI summary has been generated from information found on Charity Navigator.
Is Venable Foundation Inc legitimate?
Venable Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Venable 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: $0
For more financial information, click here
Official website here: www.venable.com
What is the mission statement of Venable Foundation Inc?
The Venable Foundation Inc's mission is centered around enhancing the health and well-being of communities where its clients and attorneys reside. It supports a variety of civic, cultural, and charitable initiatives, as well as public interest law and legal education. The foundation has a specific focus on providing legal assistance and legal education programs. It operates as a public charity, offering financial support to tax-exempt organizations that foster and promote charitable, cultural, or educational services for the general public.
Official website here: www.venable.com
What is the revenue of Venable Foundation Inc?
Venable Foundation Inc's revenue in 2023 was $4,140,999.
Official website here: www.venable.com
Who are the executives of Venable Foundation Inc and what are their salaries?
There 19 volunteers at Venable Foundation Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.venable.com
Where can I find the form 990 for Venable Foundation Inc?
Venable Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.venable.com
Learn more at the official website: www.venable.com
Mission Statement of Venable Foundation Inc
Venable Foundation Inc, established as a public charity, is committed to improving the health and well-being of the communities where its clients and attorneys reside and work. The organization demonstrates this commitment by supporting a diverse array of civic, cultural, and charitable initiatives. Central to its mission is the provision of legal assistance and legal education programs, ensuring that these essential services are readily available to the general public. In line with its charitable purpose, Venable Foundation Inc extends support to various tax-exempt organizations, thereby fostering and promoting charitable, cultural, or educational services for the community at large.
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Impact
July, 2024
Venable Foundation Inc's impact is centered around promoting the health and well-being of the communities where Venable's clients and attorneys work and live. The foundation provides support to various tax-exempt organizations that foster and promote charitable, cultural, or educational services to the general public. Their focus spans civic, cultural, and charitable endeavors, as well as public interest law and legal education programs. Through their philanthropic efforts, Venable Foundation Inc contributes to enhancing the quality of life and access to legal assistance and education in the communities it serves.
This information is meant to be a general summary of Venable 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: $4,999
- Gross Receipts: $4,140,999
Assets and Liabilities:
- Total Assets: $120,705
- Total Liabilities: $0
- Net Assets: $120,705
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Organization Details
Founding Year
1983
Principal Officer
Robert Waldman
Website
www.venable.comNTEE Category
Code: T90Z - Philanthropy
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