Overview
What is Fred W Hooper Endowment Fund?
The Fred W Hooper Endowment Fund is a charitable organization that started by investing a substantial sum of $1,000,000 from F.W. Hooper. Their primary mission is to sustain this investment and annually distribute a portion of its earnings, amounting to $50,000, to the West Montgomery Educational Foundation. The endowment's objective is to support this educational foundation, thereby contributing to educational advancements in the relevant region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. The Fred W Hooper Endowment Fund receives a score of 73%, which translates to a Two-Star rating, indicating that while the organization meets certain standards, there are areas that could use improvement. The overall score is derived entirely from its Accountability & Finance metrics, suggesting a focus on financial transparency and management.
Strengths of the organization include a fully independent board with 100% of its members being independent, a solid size of three members, and no indications of material diversion of assets. Notably, the fund demonstrates strong practices in documenting board meeting minutes and has a perfect liabilities to assets ratio of 0.00%, reflecting robust financial health. Additionally, it allocates 100% of its expenses to program services, indicating effective use of its resources.
However, the Two-Star rating suggests that despite the positive aspects, there may be limitations in other areas not reflected in the financial metrics alone, although specific concerns are not detailed in the available data. Overall, while the organization has solid financial practices, there may be opportunities for growth in other operational facets.
This AI summary has been generated from information found on Charity Navigator.
Is Fred W Hooper Endowment Fund legitimate?
Fred W Hooper Endowment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fred W Hooper Endowment 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 Fred W Hooper Endowment Fund?
The Fred W Hooper Endowment Fund's mission is centered around investing an initial sum of $1,000,000 and making annual contributions of $50,000 to the West Montgomery Educational Foundation. This financial support aims to contribute to the educational foundation's initiatives and projects. By doing so, the fund seeks to support educational growth and development in an unspecified but assumed capacity.
Who is the CEO of Fred W Hooper Endowment Fund?
Thomas H Campbell Jr is the Principal Officer of Fred W Hooper Endowment Fund.
What is the revenue of Fred W Hooper Endowment Fund?
Fred W Hooper Endowment Fund's revenue in 2022 was -$10,262.
Who are the executives of Fred W Hooper Endowment Fund and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Fred W Hooper Endowment Fund?
Fred W Hooper Endowment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fred W Hooper Endowment Fund
The Fred W. Hooper Endowment Fund is an organization dedicated to investing an initial endowment of $1,000,000 and making annual contributions to the West Montgomery Educational Foundation. This mission is carried out with the aim of providing ongoing support to the educational foundation, contributing a significant sum of $50,000 annually. By doing so, the endowment fund plays a crucial role in contributing to the educational sector within its scope, ultimately aiming to make a positive impact on the community.
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Impact
October, 2024
The Fred W. Hooper Endowment Fund significantly impacts educational initiatives by providing substantial financial support to the West Montgomery Educational Foundation. With an initial investment of $1,000,000, the endowment generates annual contributions of $50,000. This funding bolsters educational programs and resources in the community, enhancing opportunities for students and promoting academic success. The consistent financial backing empowers the West Montgomery Educational Foundation to implement valuable educational projects, thereby fostering a positive environment for learning and development in Hope Hull, Alabama.
This information is meant to be a general summary of Fred W Hooper Endowment 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 2022.
- Investment Income: -$10,262
- Gross Receipts: $364,448
Assets and Liabilities:
- Total Assets: $1,030,404
- Total Liabilities: $0
- Net Assets: $1,030,404
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Organization Details
Founding Year
2002
Phone
(334) 288-9025Principal Officer
Thomas H Campbell Jr
Main Address
PO Box 125, Hope Hull, AL, 360430125
NTEE Category
Code: T20 - Philanthropy
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