Overview
What is The Ward Oaks Foundation Inc?
The Ward Oaks Foundation Inc is a charitable organization based in Chestertown, Maryland, with a mission to support affordable housing, the environment, and renewable energy. They accomplish this by investing in various low-income and elderly housing real estate partnerships and making charitable donations in line with their charter. In 2022, they donated a total of $171,800 towards these causes. Beyond housing, the foundation also strives to promote the use of renewable energy sources and invest in research and development to reduce energy costs. Their commitment extends to reducing foreign energy reliance and participating in programs aligned with their charitable purposes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (63%, Two-Star out of Four Star rating)
The Ward Oaks Foundation Inc has received a "Needs Improvement" rating with an overall score of 63% from Charity Navigator. The organization's financial management is notably strong, with a program expense ratio of 86.84%, indicating that the majority of its spending is directed towards its programs and services. Additionally, the foundation shows no material diversion of assets and maintains a low liabilities to assets ratio of 0.04%, which is a positive indicator of financial health.
However, the foundation also has several accountability and transparency concerns that contributed to its lower rating. Despite having a fully independent board, it lacks critical governance policies such as a conflict of interest policy, whistleblower policy, and document retention policy, which could undermine its operational integrity. Furthermore, the absence of its website on tax forms and missing documents like tax forms on its website also signal areas for improvement.
Overall, while The Ward Oaks Foundation demonstrates solid programmatic spending and financial health, it must address its governance and transparency issues to enhance its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is The Ward Oaks Foundation Inc legitimate?
The Ward Oaks Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ward Oaks 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
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What is the mission statement of The Ward Oaks Foundation Inc?
The Ward Oaks Foundation Inc's mission is centered around supporting affordable housing, the environment, and renewable energy, as well as other charitable purposes. Specifically, the foundation aims to provide multi-family housing and related amenities and services for homeless individuals, the elderly, and those of moderate income. Additionally, the foundation seeks to promote the use of renewable energy sources and invest in their research and development. It encourages and advocates for cost-effective financing and operation of renewable energy facilities to reduce their cost and energy production costs. The foundation also owns and operates renewable energy sources to demonstrate their efficiency, promote their use, and reduce reliance on foreign energy sources. It participates in programs designed to accomplish these objectives and other charitable purposes.
Who is the CEO of The Ward Oaks Foundation Inc?
Michael Falcone is the Chairman of The Ward Oaks Foundation Inc.
What is the revenue of The Ward Oaks Foundation Inc?
The Ward Oaks Foundation Inc's revenue in 2022 was $23,070.
Who are the executives of The Ward Oaks Foundation Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Ward Oaks Foundation Inc?
The Ward Oaks Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Ward Oaks Foundation Inc
The Ward Oaks Foundation Inc is dedicated to supporting a variety of charitable causes, with a particular focus on affordable housing, the environment, and the use of renewable energy. In line with its mission, the organization seeks to acquire, construct, develop, operate, and provide multi-family housing and related amenities and services to benefit homeless individuals, the elderly, and those of moderate income.
Beyond housing, The Ward Oaks Foundation Inc is also committed to promoting the use of renewable energy sources. To accomplish this, the nonprofit invests in research and development of renewable energy technologies. Furthermore, it encourages and promotes the cost-effective financing and operation of renewable energy facilities to reduce their construction and operating costs. By doing so, the foundation aims to demonstrate the efficiency of renewable energy sources and promote their use, thereby reducing reliance on foreign energy sources.
Additionally, The Ward Oaks Foundation Inc owns and operates renewable energy sources to showcase their effectiveness and encourage their widespread adoption. Through its initiatives, the organization participates in programs designed to achieve these goals while also pursuing other charitable purposes. Overall, The Ward Oaks Foundation Inc is a multifaceted nonprofit that seeks to improve living conditions, promote sustainable energy, and contribute to the betterment of society.
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Impact
August, 2024
The Ward Oaks Foundation Inc has a significant impact in supporting affordable housing, the environment, renewable energy, and other charitable purposes. This organization, based in Chestertown, MD, focuses on providing multi-family housing for low-income and elderly individuals through ownership in various housing real estate partnerships. Additionally, the foundation contributes to organizations that align with its mission, making charitable donations totaling $171,800 in 2022. Its mission includes acquiring, developing, and operating multi-family housing for homeless persons, the elderly, and those of moderate income, as well as promoting the use of renewable energy sources and investing in research and development within the renewable energy sector. Through these endeavors, The Ward Oaks Foundation Inc is working to make a positive impact on housing affordability, environmental sustainability, and charitable causes.
This information is meant to be a general summary of The Ward Oaks 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: $23,070
- Gross Receipts: $3,726,142
Assets and Liabilities:
- Total Assets: $4,633,553
- Total Liabilities: $2,139
- Net Assets: $4,631,414
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Organization Details
Founding Year
2000
Phone
(410) 336-3779Principal Officer
Michael Falcone
Main Address
104 S CROSS STREET 1ST FLOOR, CHESTERTOWN, MD, 21620
NTEE Category
Code: L20 - Housing
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