Overview
What is Walnut Cove Members Association Inc?
Walnut Cove Members Association Inc, a 501(C)(3) nonprofit, is comprised of property owners at The Cliffs at Walnut Cove who are passionate about supporting local charities. Members contribute through annual tax-deductible dues, donations, and the annual "Weekend of Giving," which includes events like a golf tournament. The association's funds are distributed to various local charities based on recommendations from their Grant Committee and Board of Directors. The WCMA is run entirely by volunteers, ensuring minimal overhead and administrative expenses, with over 98% of net fundraising revenue directly aiding charities. Since its inception in 2007, the WCMA has granted over 2.9 million dollars to numerous nonprofits in Western North Carolina. With a growing membership of over 450 individuals, many of whom actively volunteer, the WCMA has become a respected and valued part of the community, providing both support to those in need and a platform for volunteers.
Official website here: www.walnutcovemembers.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Walnut Cove Members Association Inc has achieved a Three-Star rating from Charity Navigator, reflecting a solid performance in terms of accountability and finance. The overall score is derived entirely from their accountability measures, where they excelled with an 81% score. This rating indicates a well-managed organization that prioritizes transparency and fiscal responsibility.
The organization showcases strong governance practices, with 100% of its board members being independent. Additionally, they have a comprehensive conflict of interest policy and maintain thorough records of board meeting minutes, further demonstrating their commitment to accountability. The absence of any material diversion of assets and an excellent liabilities to assets ratio highlight their financial stability.
One of the notable strengths of Walnut Cove Members Association Inc is their impressive program expense ratio of 99.16%, suggesting that nearly all of their funds are directed towards their programs and mission. This high percentage is a positive indicator of the organization's effectiveness and dedication to serving its community. Overall, while their rating is commendable, ongoing efforts to maintain and improve transparency and governance will be key to their future success.
This AI summary has been generated from information found on Charity Navigator.
Is Walnut Cove Members Association Inc legitimate?
Walnut Cove Members Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walnut Cove Members Association 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
For more financial information, click here
Official website here: www.walnutcovemembers.com
What is the mission statement of Walnut Cove Members Association Inc?
The Walnut Cove Members Association Inc is an organization dedicated to supporting local nonprofit charities. Comprised primarily of property owners from The Cliffs at Walnut Cove, the association raises funds through membership dues, donations, and annual events like the 'Weekend of Giving'. The primary goal is to distribute these funds to various charities, following recommendations from a grant committee. Members actively involved in charities that meet the stated guidelines are encouraged to submit grant requests. The association operates with minimal overhead and administrative expenses, ensuring that a significant portion of the net fundraising revenue goes directly to charity. Since its inception in 2007, Walnut Cove Members Association Inc has awarded more than 410 grants, amounting to over 2.9 million dollars, to a diverse range of nonprofits. The association's mission serves a dual purpose, supporting those in need within the community while also honoring its members' commitment to volunteering for worthy causes.
Official website here: www.walnutcovemembers.com
Who is the CEO of Walnut Cove Members Association Inc?
Joseph Tanner is the Chairman of Walnut Cove Members Association Inc.
Official website here: www.walnutcovemembers.com
What is the revenue of Walnut Cove Members Association Inc?
Walnut Cove Members Association Inc's revenue in 2022 was $535,790.
Official website here: www.walnutcovemembers.com
Who are the executives of Walnut Cove Members Association Inc and what are their salaries?
There 40 volunteers at Walnut Cove Members Association Inc.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.walnutcovemembers.com
Where can I find the form 990 for Walnut Cove Members Association Inc?
Walnut Cove Members Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.walnutcovemembers.com
Learn more at the official website: www.walnutcovemembers.com
Mission Statement of Walnut Cove Members Association Inc
Walnut Cove Members Association, a 501(c)(3) nonprofit organization, is comprised of property owners from The Cliffs at Walnut Cove who are passionate about supporting local charities. Their mission is to strengthen and bolster nonprofit agencies within their community by raising funds through annual membership dues, donations, and events such as their annual "Weekend of Giving," which often includes a golf tournament and other fundraising activities.
The association's objectives are twofold: firstly, to contribute to the welfare of those in need within their community; and secondly, to support fellow residents who are actively involved in volunteering for worthy causes. Walnut Cove Members Association operates on a volunteer-based model, ensuring that the majority of the funds raised go directly to reputable local charities, with minimal overhead and administrative expenses. Historically, over 98% of the net fundraising revenue has been allocated to charity.
Since its inception in 2007, Walnut Cove Members Association has awarded grants totalling over 2.9 million dollars to a diverse range of nonprofit organizations in Western North Carolina. The association has grown significantly in recent years, boasting over 450 members, many of whom actively participate in volunteering for various worthy causes. As a result of its generosity and community service, Walnut Cove Members Association has become a respected and valued member of the Western North Carolina region.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Walnut Cove Members Association Inc's impact is significant in the local community. Through their fundraising efforts and charitable contributions, they support a wide range of local charitable organizations in Western North Carolina. Since their inception in 2007, WCMA has awarded over $2,900,000 in grants to various nonprofits in the region. Their commitment to donating a substantial portion of their revenue directly to charity, with minimal overhead costs, demonstrates their dedication to making a positive difference in the community. Additionally, the growth of WCMA from 56 members to over 450 members showcases the increasing support and involvement in their philanthropic endeavors. Their contributions have helped make Walnut Cove a valued and respected part of the Western North Carolina region.
This information is meant to be a general summary of Walnut Cove Members Association 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: $1,087
- Gross Receipts: $591,290
Assets and Liabilities:
- Total Assets: $7,987
- Total Liabilities: $0
- Net Assets: $7,987
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2012
Phone
(828) 676-0271Principal Officer
Joseph Tanner
Main Address
PO BOX 374, SKYLAND, NC, 28776
Website
www.walnutcovemembers.comNTEE Category
Code: T31 - Philanthropy
If you are a representative of Walnut Cove Members Association Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.