Overview
What is Walter F & Avis Jacobs Foundation Inc?
The Walter F & Avis Jacobs Foundation Inc is a nonprofit organization that is dedicated to supporting five specific organizations, as outlined in its exempt purpose. The foundation's primary role is to provide financial and other forms of assistance to these organizations, contributing to their overall missions and goals. While the exact nature of the five organizations is not specified in the provided information, the foundation's purpose is to bolster their activities and initiatives. The foundation operates with the aim of making a positive impact through its support, contributing to the continued success and growth of these organizations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
The Walter F & Avis Jacobs Foundation Inc has received a low rating of 53%, which indicates significant concerns regarding its accountability and financial transparency. The foundation scores particularly poorly in areas such as board independence and governance policies, receiving no points for having independent board members or for establishing essential governance policies such as a conflict of interest policy and a whistleblower policy. However, it does report no material diversion of assets, showing a strong commitment to financial integrity in that specific area.
Despite the low score in governance, the foundation demonstrates some strengths in its financial management, with a program expense ratio of 72.73%. This indicates that a significant portion of its expenses is allocated towards its programs rather than administrative costs, which can be seen as a positive aspect by donors. Nonetheless, the lack of transparency with its website and missing documentation further detracts from its overall accountability.
Overall, while the Walter F & Avis Jacobs Foundation Inc shows a dedication to its programmatic mission through its expense allocation, the absence of independent oversight and crucial governance policies raises red flags for potential supporters and stakeholders. It is essential for the foundation to address these shortcomings to enhance its credibility and ensure greater donor trust moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Walter F & Avis Jacobs Foundation Inc legitimate?
Walter F & Avis Jacobs Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walter F & Avis Jacobs 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: $20,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Walter F & Avis Jacobs Foundation Inc?
The wallet F & Avis Jacobs Foundation Inc's mission is centered around supporting the five organizations listed in a specific section. This support is in line with the foundation's exempt purpose, as stated in its charter. The foundation's primary goal is to contribute to the activities and missions of these organizations, without specifying the nature or focus of these organizations' work. The foundation does not have a publicly declared mission statement beyond this support of the listed organizations.
Who is the CEO of Walter F & Avis Jacobs Foundation Inc?
Bruce J Roth is the President of Walter F & Avis Jacobs Foundation Inc.
What is the revenue of Walter F & Avis Jacobs Foundation Inc?
Walter F & Avis Jacobs Foundation Inc's revenue in 2023 was $36,753.
Who are the executives of Walter F & Avis Jacobs Foundation Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $10,000
- Related: $0
- Other: $0
- Compensation: $10,000
- Related: $0
- Other: $0
Where can I find the form 990 for Walter F & Avis Jacobs Foundation Inc?
Walter F & Avis Jacobs Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Walter F & Avis Jacobs Foundation Inc
Walter F & Avis Jacobs Foundation Inc, as per its mission, is committed to supporting the five organizations listed in its respective parts. The primary objective of this foundation is to provide financial and other necessary resources to these five organizations, thereby contributing to their overall operations and objectives. The foundation's purpose is deeply rooted in its dedication to these organizations, and it strives to facilitate their growth and success in their respective fields. However, the foundation does not disclose any information about the nature or focus of these five organizations or the specific ways in which it supports them.
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Impact
October, 2024
Walter F & Avis Jacobs Foundation Inc plays a significant role in advancing the missions of five key organizations within its community. Located in Louisville, KY, it actively supports initiatives that align with its commitment to philanthropy, fostering positive outcomes across various sectors. By providing financial support and resources, the foundation enhances the capacity of these organizations to serve their purposes effectively. Its focused approach amplifies their collective impact, contributing to the overall well-being and development of the community. Through strategic partnerships and targeted funding, the foundation facilitates meaningful change and drives progress in areas that are critical to the community's needs.
This information is meant to be a general summary of Walter F & Avis Jacobs 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 2023.
- Investment Income: $36,753
- Gross Receipts: $123,855
Assets and Liabilities:
- Total Assets: $1,131,449
- Total Liabilities: $0
- Net Assets: $1,131,449
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Organization Details
Founding Year
1980
Phone
(502) 459-8100Principal Officer
Bruce J Roth
Main Address
2100 GARDINER LANE, LOUISVILLE, KY, 40205
NTEE Category
Code: T22Z - Philanthropy
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