Overview
What is Cha Foundation?
The Cha Foundation is a nonprofit organization dedicated to distributing excess funds and resources towards enhancing healthcare services. Based on the provided information, this foundation supports and expands healthcare activities of Chesapeake Hospital Authority and its tax-exempt subsidiaries. The foundation's operations include allocating operating surpluses, investment income, and other resources to these organizations to further their health care objectives.
Official website here: www.chesapeakeregional.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 1 Star (56%)
The Cha Foundation has received a One-Star out of Four Star rating from Charity Navigator, indicating significant areas of concern, particularly in its financial management and program expenses. While the organization boasts a fully independent board and has established robust oversight policies, the lack of transparency in its financial statements is alarming, with key documents not posted on its website.
Strengths of the organization include a fully independent board and a solid framework for conflict of interest and whistleblower policies. The foundation's commitment to governance is reflected in its high scores for audit and oversight. However, the absence of program expenses and the concerning liabilities to assets ratio raise questions about its operational efficiency and overall impact on its mission.
The rating highlights that while Cha Foundation meets several standards for accountability, it needs to improve its financial transparency and the allocation of funds toward its programs. Stakeholders may want to monitor these aspects closely before making any contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Cha Foundation legitimate?
Cha Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cha Foundation 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.chesapeakeregional.com
What is the mission statement of Cha Foundation?
The Cha Foundation redistributes excess funds, investment earnings, and other resources towards bolstering the healthcare operations of Chesapeake Hospital Authority and its tax-exempt affiliates. Its primary objective is to bolster and expand healthcare services currently being provided by these organizations. The Foundation plays a crucial role in reinvesting surplus funds to enhance the scope of healthcare initiatives.
Official website here: www.chesapeakeregional.com
Who is the CEO of Cha Foundation?
Reese Jackson is the Ceo & President of Cha Foundation. The CEO's salary of Cha Foundation is $0 and their total compensation is $828,906.
Official website here: www.chesapeakeregional.com
What is the revenue of Cha Foundation?
Cha Foundation's revenue in 2022 was $30,880,079.
Official website here: www.chesapeakeregional.com
Who are the executives of Cha Foundation and what are their salaries?
There 2 volunteers at Cha Foundation.
Here are 6 key members and their salaries (Cha Foundation's CEO's salary is $0 and their total compensation is $828,906):
- Compensation: $0
- Related: $780,106
- Other: $48,800
- Compensation: $0
- Related: $460,096
- Other: $48,800
- 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.chesapeakeregional.com
Where can I find the form 990 for Cha Foundation?
Cha Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chesapeakeregional.com
Learn more at the official website: www.chesapeakeregional.com
Mission Statement of Cha Foundation
Cha Foundation, a charitable organization, channelizes its operating surpluses, investment income, and other resources towards supporting and expanding healthcare initiatives carried out by Chesapeake Hospital Authority and its tax-exempt subsidiaries. The Foundation's primary objective is to bolster the healthcare services currently in operation by these entities. By allocating its resources effectively, Cha Foundation contributes significantly to the growth and improvement of the healthcare sector under its purview.
Established with a vision to make a difference, Cha Foundation goes beyond merely managing its excess funds. It recognizes the potential in the existing healthcare infrastructure and invests in its development. Through its strategic allocation of resources, the Foundation ensures that the healthcare services provided by its partner organizations continue to thrive and evolve, ultimately benefiting a larger community.
The mission of Cha Foundation can be described as an ongoing commitment to bolstering the healthcare sector. By supporting and expanding healthcare activities, it aims to enhance the quality of care and accessibility to essential services. The organization's dedication to this cause is reflected in its proactive approach towards resource management and its unwavering focus on the betterment of healthcare services.
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Impact
October, 2024
The Cha Foundation plays a crucial role in enhancing healthcare services within Chesapeake, VA, by strategically allocating its financial resources. It channels operating surpluses, investment income, and various other resources to Chesapeake Hospital Authority and its affiliated tax-exempt subsidiaries. This financial support is pivotal in expanding and improving healthcare activities, ensuring that the community has access to quality medical care and services. Through its dedicated efforts, the foundation not only sustains existing healthcare initiatives but also fosters the development of new programs, ultimately contributing to better health outcomes for the residents of Chesapeake.
This information is meant to be a general summary of Cha Foundation. 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: $30,880,079
- Gross Receipts: $162,445,051
Assets and Liabilities:
- Total Assets: $208,960,905
- Total Liabilities: $24,901,357
- Net Assets: $184,059,548
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Organization Details
Founding Year
1976
Phone
(757) 312-8121Principal Officer
Reese Jackson
Main Address
736 Battlefield Blvd North, Chesapeake, VA, 23320
Website
www.chesapeakeregional.comNTEE Category
Code: T30 - Philanthropy
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