Overview
What is Mount Olivet Foundation?
Mount Olivet Foundation, based in Arlington, Virginia, is a nonprofit organization that focuses on providing financial assistance to post-secondary students and community organizations in need. During 2022, they granted funds ranging from $100 to $5,000 to 16 students. Their mission is to distribute grants and interest-free loans to support post-secondary education. Furthermore, the Foundation extends its philanthropic efforts to community organizations by offering grants for specific purposes. The Foundation is committed to managing the resources entrusted to it responsibly, acting as a steward in its operations.
Official website here: www.mountolivetfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
The Mount Olivet Foundation has achieved an impressive Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. The rating is based entirely on a single beacon score, which reflects the foundation's commitment to transparency and responsible financial management, with a perfect score in multiple areas such as independent board members and no reported material diversion of assets.
Strengths of the organization include a fully independent board of 21 members and a high program expense ratio of 94.60%, showing that a significant portion of its funds is directed towards its programs and services. Additionally, the foundation has robust policies in place for conflict of interest and document retention, further bolstering its accountability.
However, it is worth noting that the foundation is missing a whistleblower policy, which could be a potential area for improvement. Overall, the foundation's strong financial practices and governance structures suggest it is effectively managing its resources to fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Mount Olivet Foundation legitimate?
Mount Olivet Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mount Olivet 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:
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For more financial information, click here
Official website here: www.mountolivetfoundation.org
What is the mission statement of Mount Olivet Foundation?
The Mount Olivet Foundation's mission is centered around providing assistance to post-secondary students and community organizations. Specifically, it extends interest-free loans to students pursuing higher education and grants to organizations that exhibit financial need. The foundation serves as a custodian of the resources it manages, utilizing them to fulfill its mission. In the year 2022, the foundation distributed educational grants ranging from $100 to $5,000 to 16 different students, demonstrating its commitment to supporting students' academic pursuits.
Official website here: www.mountolivetfoundation.org
Who is the CEO of Mount Olivet Foundation?
Cheryl Moore is the President of Mount Olivet Foundation.
Official website here: www.mountolivetfoundation.org
What is the revenue of Mount Olivet Foundation?
Mount Olivet Foundation's revenue in 2022 was $1,367.
Official website here: www.mountolivetfoundation.org
Who are the executives of Mount Olivet Foundation and what are their salaries?
There 21 volunteers at Mount Olivet Foundation.
Here are 21 key members and their salaries:
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Official website here: www.mountolivetfoundation.org
Where can I find the form 990 for Mount Olivet Foundation?
Mount Olivet Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mountolivetfoundation.org
Learn more at the official website: www.mountolivetfoundation.org
Mission Statement of Mount Olivet Foundation
Mount Olivet Foundation, as a philanthropic organization, is committed to providing grants and offering interest-free loans to post-secondary students. This mission aims to support the educational aspirations of numerous students, catering to financial aid ranging from modest $100 grants to more substantial $5,000 awards. Apart from this, the Foundation also extends its philanthropic reach to community organizations that display a clear financial need. By granting funds to these organizations, Mount Olivet Foundation contributes to the betterment of various community initiatives and projects. In essence, the Foundation serves as a steward of the financial resources entrusted to it, allocating funds strategically to post-secondary students and community organizations that require financial assistance.
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Impact
October, 2024
Mount Olivet Foundation significantly impacts the educational and community landscape by offering financial support to post-secondary students and local organizations. In 2022, it provided educational grants to 16 students, with amounts ranging from $100 to $5,000, thereby enhancing access to education for those in need. Additionally, the Foundation supports community organizations facing financial challenges by providing targeted grants that facilitate specific purposes, demonstrating a commitment to fostering educational growth and community development in Arlington, Virginia. Through its stewardship of entrusted financial resources, the Foundation plays a crucial role in shaping brighter futures for students and strengthening local communities.
This information is meant to be a general summary of Mount Olivet 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.
- Program Service Revenue: $75
- Gross Receipts: $1,367
Assets and Liabilities:
- Total Assets: $1,523,433
- Total Liabilities: $0
- Net Assets: $1,523,433
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Lending - Service Fee
Revenue
$75
Organization Details
Founding Year
1967
Principal Officer
Cheryl Moore
Main Address
1500 N Glebe Rd, Arlington, VA, 22207
NTEE Category
Code: Z99 - Unknown
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