Overview
What is Norfolk Community Trust Exempt Fund?
The Norfolk Community Trust Exempt Fund is a supporting organization, categorized as Type I, located at 7444 Central Business Park Drive, Norfolk, Virginia 23513. Its primary mission is to endorse and uphold the objectives of the Norfolk Community Services Board (NCSB), a department within the City of Norfolk. Specifically, the Trust has recently granted funds to NCSB for their homeless services, with a focus on supporting their food pantry. This collaboration aims to assist individuals in need, contributing to the broader mission of enhancing community well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (34%)
The Norfolk Community Trust Exempt Fund has received a low rating of 34%, which translates to a Zero-Star out of Four Star rating. This score reflects significant concerns regarding accountability and financial transparency, as highlighted by the complete absence of independent board members and missing essential governance policies, such as conflict of interest and whistleblower policies.
Despite a favorable liabilities to assets ratio, the charity's performance in other areas, particularly in governance and transparency, raises red flags. The absence of a publicly accessible website and missing documentation of board meeting minutes further complicates an already weak accountability framework.
The program expense ratio of 56.88% indicates that a little over half of the funds are directed towards programs, but overall, the organizational weaknesses overshadow this figure. Without improvements in governance practices and financial disclosure, the Norfolk Community Trust Exempt Fund may struggle to gain the trust of potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Norfolk Community Trust Exempt Fund legitimate?
Norfolk Community Trust Exempt Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norfolk Community Trust Exempt Fund 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
What is the mission statement of Norfolk Community Trust Exempt Fund?
The Norfolk Community Trust Exempt Fund is a supporting organization with a mission to align with the purposes of the Norfolk Community Services Board (NCSB). This organization is established to support the initiatives of the NCSB, a department within the City of Norfolk. Specifically, the Norfolk Community Trust Exempt Fund provides financial assistance to the NCSB, contributing to their homeless services, particularly their food pantry. The primary goal of this support is to contribute to the overall objectives and missions of the NCSB.
Who is the CEO of Norfolk Community Trust Exempt Fund?
William Prince is the Trustee of Norfolk Community Trust Exempt Fund.
What is the revenue of Norfolk Community Trust Exempt Fund?
Norfolk Community Trust Exempt Fund's revenue in 2023 was $30,375.
Who are the executives of Norfolk Community Trust Exempt Fund and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Norfolk Community Trust Exempt Fund?
Norfolk Community Trust Exempt Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Norfolk Community Trust Exempt Fund
The Norfolk Community Trust Exempt Fund is a supporting organization, with a mission to align with the purposes of the Norfolk Community Services Board (NCSB). This organization is established with the intent of providing support to the NCSB, a department under the city of Norfolk. One of the ways the Norfolk Community Trust Exempt Fund fulfills its mission is by extending a grant to the NCSB for its homeless services, specifically focusing on their food pantry. This grant enables the NCSB to continue its work in addressing the needs of the homeless population in Norfolk. By supporting the NCSB, the Norfolk Community Trust Exempt Fund is contributing to the betterment of the community and the well-being of its most vulnerable members.
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Impact
October, 2024
The Norfolk Community Trust Exempt Fund significantly impacts the local community by providing essential support for homeless services through financial grants to the Norfolk Community Services Board (NCSB). Specifically directed towards the Food Pantry, these funds enhance access to nutritious meals for individuals and families in need, addressing food insecurity in the Norfolk area. By bolstering the efforts of NCSB, the Trust plays a vital role in promoting human services and ensuring that vulnerable populations receive the assistance they require. This collaboration not only aids in alleviating immediate hardships but also contributes to the overall well-being and stability of the community.
This information is meant to be a general summary of Norfolk Community Trust Exempt Fund. 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: $30,375
- Gross Receipts: $213,655
Assets and Liabilities:
- Total Assets: $981,308
- Total Liabilities: $0
- Net Assets: $981,308
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Organization Details
Founding Year
1993
Phone
(757) 756-5600Principal Officer
William Prince
Main Address
7447 CENTRAL BUSINESS PARK DRIVE, NORFOLK, VA, 23513
NTEE Category
Code: P12 - Human services
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