Overview
What is John H Wellons Foundation Inc?
John H Wellons Foundation Inc is a nonprofit organization committed to charitable giving, offering student loans, and prioritizing elderly housing. They provide and sponsor numerous reduced rental housing units for the elderly, boasting 40 operational units and 21 ongoing projects with more in development. Furthermore, the foundation runs a thrift store, accepting donations for resale. The revenue generated from the thrift store supports various other programs within the foundation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
The John H Wellons Foundation Inc has achieved a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The overall score is primarily derived from its strong metrics in the Accountability & Finance category, with a total score of 79%. This rating suggests that the foundation is effectively managing its resources and maintaining fiscal responsibility.
The organization showcases impressive governance practices, including a fully independent board and the absence of any material diversion of assets. Furthermore, it adheres to best practices by having well-documented policies related to conflicts of interest and whistleblowing, which enhances transparency and trust within its operations. The foundation's program expense ratio of 88.53% indicates that a significant majority of its expenditures are directed towards its mission-related activities.
However, while the organization scores well in accountability and financial health, the Three-Star rating suggests there may be opportunities for improvement. Continuous evaluation and enhancement of its operational practices could potentially elevate its rating and public perception even further. Overall, the foundation appears to be a responsible steward of its financial resources, serving its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is John H Wellons Foundation Inc legitimate?
John H Wellons Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. John H Wellons 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: $591,570
For more financial information, click here
What is the mission statement of John H Wellons Foundation Inc?
The John H Wellons Foundation is committed to its charitable mission, which encompasses providing support for various causes. One of its key initiatives is offering student loans. Moreover, the foundation demonstrates a strong focus on elderly housing, operating and sponsoring several projects to provide reduced rental units for the elderly. Additionally, the foundation operates a thrift store, accepting donations to fund other programs. The proceeds from the thrift store sales contribute to the financing of these initiatives.
Who is the CEO of John H Wellons Foundation Inc?
Unavailable
What is the revenue of John H Wellons Foundation Inc?
John H Wellons Foundation Inc's revenue in 2022 was $1,699,013.
Who are the executives of John H Wellons Foundation Inc and what are their salaries?
The average compensation at John H Wellons Foundation Inc during 2022 was $7,784. There are 76 employees at John H Wellons Foundation Inc.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for John H Wellons Foundation Inc?
John H Wellons Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of John H Wellons Foundation Inc
The John H. Wellons Foundation is dedicated to three primary areas of service: charitable giving, student loans, and elderly housing. In line with its mission, the foundation provides and backs reduced rental housing for elderly individuals. It does this by operating 40 units and sponsoring 21 operating projects with several more in development. Beyond housing, the foundation also supports other programs through the operation of a thrift store. This store receives donations that are then sold, with the proceeds utilized to finance additional initiatives. The John H. Wellons Foundation's efforts in these areas aim to make a tangible difference in the lives of various communities, particularly the elderly population.
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Impact
July, 2024
The John H Wellons Foundation Inc impacts communities by supporting charitable giving, providing student loans, and focusing on elderly housing. The foundation operates reduced rental housing for elderly persons, sponsors multiple operating projects, and runs a thrift store to generate funds for various programs.
This information is meant to be a general summary of John H Wellons 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: $184,127
- Program Service Revenue: $1,246,105
- Gross Receipts: $1,815,633
Assets and Liabilities:
- Total Assets: $21,542,491
- Total Liabilities: $124,483
- Net Assets: $21,418,008
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Organization Details
Founding Year
1970
Phone
(910) 892-0436Main Address
PO Box 1254, Dunn, NC, 28335
NTEE Category
Code: Z99 - Unknown
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