Overview
What is Owensboro Family Ymca Trust Inc?
Owensboro Family YMCA Trust Inc is a nonprofit organization situated in Owensboro, Kentucky, with an address at 900 Kentucky Parkway. Its primary purpose is to support the charitable mission of the Family YMCA of Owensboro-Davie County, Inc., a 501(c)(3) organization. The trust receives and manages donations, bequests, and their investment proceeds, subsequently disbursing the funds to the Family YMCA for its operational needs. The trust's mission is to ensure the financial well-being of the Family YMCA, thereby aiding in the fulfillment of its mission to promote health, wellness, and community engagement.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Owensboro Family YMCA Trust Inc has received a solid rating of 87%, reflecting strong accountability and financial management practices. The organization boasts a fully independent board with seven members, and there is no indication of material diversion of assets. This commitment to governance is further supported by a well-documented conflict of interest policy and comprehensive record-keeping measures.
In addition to its governance strengths, the YMCA Trust demonstrates exceptional financial health, as evidenced by a 0.00% liabilities-to-assets ratio and a program expense ratio of 100%. This indicates that the organization is fully allocating its resources to its programs without incurring debt, showcasing a strong focus on its mission and effective use of donations.
However, while the organization demonstrates strong accountability and financial practices, the Three-Star rating suggests that there may be areas for improvement. Continued transparency and enhanced programming could further elevate their standing within the nonprofit community. Overall, the Owensboro Family YMCA Trust Inc appears to be a reliable organization committed to serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Owensboro Family Ymca Trust Inc legitimate?
Owensboro Family Ymca Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Owensboro Family Ymca Trust 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: $0
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What is the mission statement of Owensboro Family Ymca Trust Inc?
The mission of Owensboro Family YMCA Trust Inc is to support financially the operations of the Owensboro Family YMCA, a 501(C)(3) organization, in fulfilling its chartered mission. This is achieved by providing consistent annual financial assistance to meet the current operating needs of the YMCA. The trust manages and invests donations and bequests received, with the investment proceeds disbursed to the Owensboro Family YMCA to aid in its charitable mission. This financial support enables the YMCA to carry out its mission of promoting community development and fostering healthy living.
Who is the CEO of Owensboro Family Ymca Trust Inc?
Fred May is the Vice Chair of Owensboro Family Ymca Trust Inc.
What is the revenue of Owensboro Family Ymca Trust Inc?
Owensboro Family Ymca Trust Inc's revenue in 2022 was $56,551.
Who are the executives of Owensboro Family Ymca Trust Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Owensboro Family Ymca Trust Inc?
Owensboro Family Ymca Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Owensboro Family Ymca Trust Inc
Owensboro Family YMCA Trust Inc is a charitable organization with a mission to provide consistent annual financial support to the operational needs of the Owensboro Family YMCA. This mission is aimed at aiding and promoting the objectives of the Owensboro Family YMCA, another 501(c)(3) organization, by managing and investing donations and bequests received. The trust disburses the investment proceeds to the Owensboro Family YMCA, thereby contributing to its charitable mission. In essence, Owensboro Family YMCA Trust Inc serves as a financial backbone, ensuring the Owensboro Family YMCA can continue its work in the community.
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Impact
August, 2024
Owensboro Family YMCA Trust Inc plays a crucial role in securing the financial support necessary for the Family YMCA of Owensboro-Daviess County, enabling it to fulfill its chartered mission. The trust maintains and invests donations and bequests received, with the investment proceeds disbursed to the Owensboro Family YMCA to support its charitable mission. By providing consistent annual financial support to the YMCA's current operating needs, the trust aids and promotes the fulfillment of the YMCA's mission and purpose as a 501(c)(3) organization. This philanthropic effort ensures the YMCA can continue to serve the community with its vital programs and services.
This information is meant to be a general summary of Owensboro Family Ymca Trust 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: $56,551
- Gross Receipts: $458,578
Assets and Liabilities:
- Total Assets: $1,283,037
- Total Liabilities: $0
- Net Assets: $1,283,037
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Organization Details
Founding Year
1995
Phone
(270) 926-9622Principal Officer
Fred May
Main Address
900 KENTUCKY PARKWAY, OWENSBORO, KY, 42301
NTEE Category
Code: T99J - Philanthropy
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