Overview
What is Davis Corner Rescue Squad Foundation?
Davis Corner Rescue Squad Foundation is a nonprofit organization, established under Section 501(c)(3) of the Internal Revenue Code, located in Virginia Beach, Virginia. Its primary purpose is to support the Davis Corner Volunteer Fire Department and Rescue Squad through annual grants to cover operational expenses. The foundation manages and distributes funds for charitable, educational, and scientific purposes, aiming to boost financial resources for the local rescue squad. It holds assets for the squad's use and makes contributions to other eligible nonprofits, following its mission to contribute to broad charitable causes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Star rating. This rating indicates that the Davis Corner Rescue Squad Foundation has significant areas of concern in its accountability and financial management practices.
The organization has a low score for independent board members, with 0% of its board being independent, which raises questions about governance and oversight. Additionally, several essential policies, including conflict of interest and whistleblower policies, are missing, reflecting a lack of transparency and accountability. However, it has demonstrated a strong program expense ratio of 95.08%, indicating that a large portion of its expenses directly supports its mission.
Despite having no material diversion of assets and a favorable liabilities-to-assets ratio, the absence of crucial governance policies and the lack of an independent board may hinder its overall effectiveness and trustworthiness in the eyes of potential donors. The foundation's website is also listed as missing on its tax form, which further detracts from its accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Davis Corner Rescue Squad Foundation legitimate?
Davis Corner Rescue Squad Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Davis Corner Rescue Squad 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.
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What is the mission statement of Davis Corner Rescue Squad Foundation?
The Davis Corner Rescue Squad Foundation is established with a mission to collect, manage, and utilize funds for charitable, educational, and scientific purposes. This is in accordance with Section 501(c)(3) of the Internal Revenue Code. The primary aim is to support a rescue squad, specifically the Davis Corner Rescue Squad, based in Virginia Beach. The foundation intends to hold assets for this squad's use and make distributions to other eligible charitable organizations. Its main objective is to raise funds to aid the rescue squad and contribute to other organizations that share similar exempt status under the Internal Revenue Code.
What is the revenue of Davis Corner Rescue Squad Foundation?
Davis Corner Rescue Squad Foundation's revenue in 2023 was $7,582.
Who are the executives of Davis Corner Rescue Squad Foundation and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Davis Corner Rescue Squad Foundation?
Davis Corner Rescue Squad Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Davis Corner Rescue Squad Foundation
The Davis Corner Rescue Squad Foundation is established with a mission to collect, preserve, and manage funds for charitable, educational, and scientific purposes. This mission is in accordance with Section 501(c)(3) of the Internal Revenue Code. The primary objective of the foundation is to support the Davis Corner Rescue Squad in Virginia Beach, Virginia, by raising funds and holding assets for its use. Furthermore, the foundation makes distributions to other organizations that fall under the 501(c)(3) category of the Internal Revenue Code or any future federal tax code. In essence, the Davis Corner Rescue Squad Foundation serves as a philanthropic entity dedicated to aiding and strengthening charitable causes, with a special focus on supporting the Davis Corner Rescue Squad.
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Impact
August, 2024
The impact of the Davis Corner Rescue Squad Foundation is primarily focused on providing financial support to the Davis Corner Rescue Squad in Virginia Beach. This support helps the rescue squad cover their operating costs and ensures they have the resources needed to effectively carry out their critical public safety missions. By raising funds and making yearly grants to the rescue squad, the foundation plays a vital role in enabling the rescue squad to continue their lifesaving work within the community.
This information is meant to be a general summary of Davis Corner Rescue Squad 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 2023.
- Investment Income: $8,101
- Gross Receipts: $90,540
Assets and Liabilities:
- Total Assets: $294,907
- Total Liabilities: $0
- Net Assets: $294,907
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Organization Details
Founding Year
2002
Principal Officer
Kay Laws
NTEE Category
Code: M112 - Public safety
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