Overview
What is Clay Electric Foundation Inc?
Clay Electric Foundation Inc is a nonprofit organization situated in Keystone Heights, Florida. With a focus on charitable, educational, and worthwhile causes, the foundation accumulates and disburses funds within a 14-county service area that is served by Clay Electric Cooperative, Inc. Their mission is to contribute to the betterment of the community by supporting various initiatives and projects within this geographical region. The foundation's activities are aimed at fostering positive change and improvement in the lives of the people they serve.
Official website here: www.clayelectric.com/foundationboard
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Clay Electric Foundation Inc has received an 88% score, reflecting a strong commitment to accountability and finance. This rating is based solely on the Accountability & Finance beacon, demonstrating the organization's solid fiscal management and transparency practices. The foundation has scored particularly well in areas such as independent board membership and program expense ratio, indicating that it effectively directs its resources towards its charitable programs.
Strengths of the organization include having a fully independent board and a robust audit and oversight committee. The foundation has also demonstrated responsible asset management, with no material diversion of assets reported. Additionally, the presence of a conflict of interest policy and the listing of their website on their tax form further enhance their accountability measures.
However, there are some limitations noted in the data, specifically the absence of a whistleblower policy and document retention and destruction procedures. These gaps could be improved to strengthen governance and transparency. Overall, Clay Electric Foundation Inc shows a commendable commitment to responsible financial practices but has room for enhancement in its policy framework.
This AI summary has been generated from information found on Charity Navigator.
Is Clay Electric Foundation Inc legitimate?
Clay Electric Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Clay Electric 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.
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Official website here: www.clayelectric.com/foundationboard
What is the mission statement of Clay Electric Foundation Inc?
The Clay Electric Foundation Inc's primary purpose is to gather and distribute funds for charitable, educational, and other noble causes within its 14-county service area. The organization's mission is geared towards supporting various worthy projects, contributing to the betterment of the community it serves. By accumulating funds, the foundation aims to make a significant impact in areas that require assistance. The disbursement of these funds is intended to contribute to the overall improvement of the communities within its jurisdiction, thereby promoting societal development and growth.
Official website here: www.clayelectric.com/foundationboard
Who is the CEO of Clay Electric Foundation Inc?
Stephen Bailey is the President/Board Member of Clay Electric Foundation Inc.
Official website here: www.clayelectric.com/foundationboard
What is the revenue of Clay Electric Foundation Inc?
Clay Electric Foundation Inc's revenue in 2022 was $888,411.
Official website here: www.clayelectric.com/foundationboard
Who are the executives of Clay Electric Foundation Inc and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.clayelectric.com/foundationboard
Where can I find the form 990 for Clay Electric Foundation Inc?
Clay Electric Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clayelectric.com/foundationboard
Learn more at the official website: www.clayelectric.com/foundationboard
Mission Statement of Clay Electric Foundation Inc
Clay Electric Foundation Inc is a charitable organization with a mission to accumulate and disburse funds for various worthy purposes. Its scope of operation extends to the 14 county service area of Clay Electric Cooperative, Inc. This nonprofit's primary objective is to contribute to charitable and educational causes, as well as other noble endeavors. By managing and distributing funds, Clay Electric Foundation Inc aims to make a positive impact in its designated service area. Its activities are geared towards promoting the betterment of the community and fostering growth in various sectors.
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Impact
July, 2024
Clay Electric Foundation Inc has a significant impact on the 14 county service area of Clay Electric Cooperative, Inc. By accumulating and disbursing funds for charitable, educational, and other worthy purposes, the foundation plays a vital role in supporting the community. Through their philanthropic efforts, they contribute to the betterment of society, help those in need, and promote educational opportunities. Their impact can be seen in the positive outcomes and benefits experienced by individuals and organizations within their service area.
This information is meant to be a general summary of Clay Electric 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 2022.
- Gross Receipts: $888,411
Assets and Liabilities:
- Total Assets: $282,594
- Total Liabilities: $15,000
- Net Assets: $267,594
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Organization Details
Founding Year
2015
Phone
(352) 473-8000Principal Officer
Stephen Bailey
Main Address
PO BOX 308, KEYSTONE HEIGHTS, FL, 32656
NTEE Category
Code: T31 - Philanthropy
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