Overview
What is Martin Methodist Foundation (Formerly Martin Methodist College)?
The Martin Methodist Foundation, previously known as Martin Methodist College, is a nonprofit organization situated in Nashville, Tennessee. Its primary purpose is to manage and distribute funds to charitable organizations, as per the guidelines set by sections 170(C)(1), 642(C), 2055(A), and 2533 of the Internal Revenue Code, or their corresponding provisions in future tax laws. Recently, on July 1, 2021, the institution underwent a significant transformation as it entered into an asset transfer and transition agreement with the University of Tennessee. This agreement allowed the University to absorb Martin Methodist College's institutional assets and operations, thereby establishing a new campus of the University of Tennessee at the college's site, which was named the University of Tennessee, Southern. The General Assembly of the State of Tennessee approved this new campus and related transactions on April 29, 2021. The Martin Methodist College endowment, which the existing Martin Methodist College (now Martin Methodist Foundation) nonprofit corporation retains and manages, continues to be utilized for charitable purposes acceptable to the Tennessee Conference of the United Methodist Church.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
The Martin Methodist Foundation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The overall score is based entirely on the Accountability & Finance beacon, which reflects a strong commitment to transparency and responsible stewardship of funds. The foundation excels in various metrics, with 100% of its board members being independent and a low liabilities to assets ratio of just 2.02%.
Key strengths include a high program expense ratio of 80.48%, demonstrating that the majority of its resources are directed toward its programs rather than administrative costs. Additionally, the organization has established a conflict of interest policy, a whistleblower policy, and a document retention policy, which further underscores its commitment to ethical governance.
While the foundation shows a strong performance in accountability and finance, the data does not provide insights into its programmatic impact or the effectiveness of its initiatives. This information would be valuable for potential donors and stakeholders to assess the overall effectiveness of the foundation's work in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Martin Methodist Foundation (Formerly Martin Methodist College) legitimate?
Martin Methodist Foundation (Formerly Martin Methodist College) is a legitimate nonprofit organization registered as a 501(c)(3) entity. Martin Methodist Foundation (Formerly Martin Methodist College) 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 Martin Methodist Foundation (Formerly Martin Methodist College)?
The Martin Methodist Foundation, formerly known as Martin Methodist College, is responsible for receiving, investing, and distributing funds to eligible organizations. Following an asset transfer and transition agreement made on July 1, 2021, the University of Tennessee absorbed the college's assets and operations. This led to the establishment of a new campus of the University of Tennessee, named the University of Tennessee, Southern. The Martin Methodist College endowment, now managed by the Martin Methodist Foundation nonprofit corporation, is intended for charitable purposes acceptable to the Tennessee Conference of the United Methodist Church. The foundation's activities are primarily focused on distributing funds to eligible organizations, adhering to the tax laws.
Who is the CEO of Martin Methodist Foundation (Formerly Martin Methodist College)?
Richard Warren is the Chairman of Martin Methodist Foundation (Formerly Martin Methodist College).
What is the revenue of Martin Methodist Foundation (Formerly Martin Methodist College)?
Martin Methodist Foundation (Formerly Martin Methodist College)'s revenue in 2022 was $1,628,893.
Who are the executives of Martin Methodist Foundation (Formerly Martin Methodist College) and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Martin Methodist Foundation (Formerly Martin Methodist College)?
Martin Methodist Foundation (Formerly Martin Methodist College)'s most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Martin Methodist Foundation (Formerly Martin Methodist College)
The Martin Methodist Foundation, formerly known as Martin Methodist College, is a non-profit organization with a mission to collect, invest, and distribute funds to eligible organizations. This is in accordance with sections 170(C)(1), 642(C), 2055(A), and 2533 of the Internal Revenue Code, or their corresponding provisions in future tax laws. Following a transfer and transition agreement on July 1, 2021, the University of Tennessee absorbed the college's institutional assets and operations. This move was aimed at establishing a new campus of the University of Tennessee at the former Martin Methodist College campus, named the University of Tennessee, Southern. The Martin Methodist College endowment, now managed by the existing Martin Methodist College non-profit corporation, is earmarked for charitable purposes that are acceptable to the Tennessee Conference of the United Methodist Church.
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Impact
July, 2024
Martin Methodist Foundation (Formerly Martin Methodist College) has had a significant impact through its mission of providing educational opportunities and support to students. On July 1, 2021, the institution entered into an asset transfer and transition agreement with the University of Tennessee. This agreement facilitated the absorption of the college's assets and operations by the University of Tennessee to establish a new campus called the University of Tennessee, Southern.
The successful approval of this transition by the General Assembly of the State of Tennessee on April 29, 2021, marked a milestone in the organization’s history. The Martin Methodist Foundation's endowment, now managed by the Foundation, is dedicated to charitable purposes acceptable to the Tennessee Conference of the United Methodist Church. This strategic move ensures that the Foundation's resources continue to be utilized for educational and community development initiatives. The Foundation's commitment to supporting education aligns with its tag as an organization focused on fostering learning opportunities.
The impact of Martin Methodist Foundation's evolution into a new educational entity under the University of Tennessee demonstrates its dedication to providing quality education and advancing charitable causes in Tennessee and beyond.
This information is meant to be a general summary of Martin Methodist Foundation (Formerly Martin Methodist College). 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: $943,964
- Program Service Revenue: $575,385
- Gross Receipts: $5,569,037
Assets and Liabilities:
- Total Assets: $12,674,695
- Total Liabilities: $270,457
- Net Assets: $12,404,238
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER INCOME
Revenue
$575,385
Organization Details
Founding Year
1909
Phone
(615) 969-5327Principal Officer
Richard Warren
Main Address
1600 DIVISION STREET SUITE 700, NASHVILLE, TN, 37203
NTEE Category
Code: B410 - Education
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