Overview
What is Austin Area Foundation?
The Austin Area Foundation is a well-established nonprofit organization based in Austin, Minnesota. With a single dedicated employee, their primary mission revolves around managing and distributing charitable gifts to support qualified nonprofit organizations. By maintaining and enhancing resources within the Austin area, the foundation aims to make a significant impact on local communities and promote the growth of various nonprofit organizations.
Official website here: www.austinareafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Austin Area Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The overall score is derived solely from its exceptional performance in the Accountability & Finance beacon, with a perfect score in several critical areas such as independent board membership and financial oversight. This high rating underscores the foundation's dedication to maintaining high standards and ethical governance.
Notably, the foundation boasts a fully independent board, which is crucial for ensuring unbiased decision-making. Its financial practices are robust, evidenced by a program expense ratio of 95.83%, indicating that the majority of its funds are directed towards its programs rather than administrative costs. Additionally, there are no material diversions of assets reported, which reinforces the organization’s integrity in financial management.
While the Austin Area Foundation's financial health is commendable, it is important for potential donors to continue monitoring the organization's ongoing performance and program outcomes. Overall, the foundation stands out as a well-managed organization dedicated to making a positive impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Austin Area Foundation legitimate?
Austin Area Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Austin Area 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: $51,935
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.austinareafoundation.org
What is the mission statement of Austin Area Foundation?
The Austin Area Foundation's mission, as stated, is focused on supporting nonprofit organizations. Specifically, they manage and distribute charitable gifts to enhance resources within the community. By doing so, they aim to bolster the capabilities of qualified nonprofit organizations, contributing to the betterment of the community as a whole. The foundation serves as a crucial link between donors and the organizations that require their support, fostering a culture of philanthropy and community development.
Official website here: www.austinareafoundation.org
What is the revenue of Austin Area Foundation?
Austin Area Foundation's revenue in 2023 was $459,905.
Official website here: www.austinareafoundation.org
Who are the executives of Austin Area Foundation and what are their salaries?
The average compensation at Austin Area Foundation during 2023 was $51,935. There is 1 employee and 18 volunteers at Austin Area Foundation.
Here are 19 key members and their salaries:
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Official website here: www.austinareafoundation.org
Where can I find the form 990 for Austin Area Foundation?
Austin Area Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.austinareafoundation.org
Learn more at the official website: www.austinareafoundation.org
Mission Statement of Austin Area Foundation
Austin Area Foundation, as a nonprofit organization, is committed to supporting its mission by managing and distributing charitable gifts. Its primary objective is to maintain and enhance the resources of the area it serves, primarily by providing financial aid to qualified nonprofit organizations. By doing so, Austin Area Foundation plays a crucial role in strengthening the local community and addressing various societal needs. The foundation serves as a crucial link between donors and the nonprofits that require financial assistance, ensuring that the charitable gifts are used effectively and efficiently to bring about positive change in the community.
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Impact
July, 2024
Austin Area Foundation has a significant impact on the community of Austin, Minnesota by supporting and enhancing the resources of qualified organizations in the area. Through managing and distributing charitable gifts, the foundation plays a crucial role in bolstering various initiatives and programs that contribute to the betterment of the local community. This focus on philanthropy helps to strengthen the social fabric of Austin and ensures that vital services and support are available to those in need.
This information is meant to be a general summary of Austin Area 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: $85,643
- Gross Receipts: $473,729
Assets and Liabilities:
- Total Assets: $2,959,445
- Total Liabilities: $0
- Net Assets: $2,959,445
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Organization Details
Principal Officer
Taggert Medgaarden
Website
www.austinareafoundation.orgNTEE Category
Code: T31 - Philanthropy
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