Overview
What is Ocoee Foundation Inc?
The Ocoee Foundation Inc is a nonprofit organization based in Cleveland, Tennessee. They focus on establishing, developing, and operating nursing homes, residential assisted living facilities, related healthcare facilities, and other residential facilities for the elderly, disabled, poor, and other special populations. These facilities aim to address the housing, health, personal needs, and financial security requirements for these communities. The organization also provides healthcare services through these facilities, all of which are owned and operated on a non-profit basis. As funds permit and upon approval from the Board of Directors, the Ocoee Foundation contributes to other tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code.
Official website here: www.ocoeefoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Ocoee Foundation Inc has received a Two-Star out of Four Star rating from Charity Navigator with an overall score of 73%. This rating indicates that while the organization performs reasonably well in certain areas, there are notable weaknesses in its governance and financial practices that need attention. The foundation has a solid program expense ratio of 92.95%, demonstrating a commitment to its mission-driven activities.
However, the foundation's accountability and finance score of 73 reflects significant concerns, particularly in governance. Only 37% of its board members are independent, and the organization has not submitted financial statements for review, which detracts from its transparency and accountability. Additionally, the nonprofit has failed to post its tax form on its website, which is an important aspect of public accountability.
Despite these challenges, the foundation has positive attributes, such as a strong conflict of interest policy and documented board meeting minutes. The organization has maintained a low liabilities to assets ratio of 41.91%, indicating a relatively stable financial position. Nonetheless, improving board independence and financial transparency will be crucial for enhancing the foundation's overall rating and trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Ocoee Foundation Inc legitimate?
Ocoee Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocoee 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: $559,642
Professional Fundraising Fees: $0
Other Salaries and Wages: $26,157,532
For more financial information, click here
Official website here: www.ocoeefoundation.org
What is the mission statement of Ocoee Foundation Inc?
The Ocoee Foundation Inc is dedicated to establishing, developing, owning, maintaining, and operating various facilities to cater to the housing, health, personal needs, and financial security requirements of elderly, disabled, poor, and other special populations. These facilities include hospitals, nursing homes, adult day care centers, residential assisted living facilities, related healthcare facilities, and other residential buildings. The organization provides healthcare services through these facilities on a non-profit basis. Additionally, the Foundation makes contributions to other Section 501(c)(3) organizations as funds allow and with the approval of the Board of Directors.
Official website here: www.ocoeefoundation.org
Who is the CEO of Ocoee Foundation Inc?
John Sheehan Jr is the President of Ocoee Foundation Inc.
Official website here: www.ocoeefoundation.org
What is the revenue of Ocoee Foundation Inc?
Ocoee Foundation Inc's revenue in 2022 was $65,905,921.
Official website here: www.ocoeefoundation.org
Who are the executives of Ocoee Foundation Inc and what are their salaries?
The average compensation at Ocoee Foundation Inc during 2022 was $20,631. There are 1295 employees at Ocoee Foundation Inc.
Here are 8 key members and their salaries:
- Compensation: $257,231
- Related: $0
- Other: $12,750
- Compensation: $100,929
- Related: $0
- Other: $6,542
- Compensation: $63,690
- Related: $0
- Other: $12,750
- Compensation: $31,000
- Related: $0
- Other: $0
- Compensation: $29,463
- Related: $0
- Other: $0
- Compensation: $27,402
- Related: $0
- Other: $0
- Compensation: $25,037
- Related: $0
- Other: $0
- Compensation: $24,890
- Related: $0
- Other: $0
Official website here: www.ocoeefoundation.org
Where can I find the form 990 for Ocoee Foundation Inc?
Ocoee Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ocoeefoundation.org
Learn more at the official website: www.ocoeefoundation.org
Mission Statement of Ocoee Foundation Inc
The Ocoee Foundation Inc is a non-profit organization dedicated to establishing, developing, owning, maintaining, and operating hospitals, nursing homes, adult day care facilities, residential assisted living facilities, related healthcare facilities, and other residential facilities designed to meet the housing, health, personal needs, and financial security needs of elderly, disabled, poor, and other special populations. Through these facilities, the Foundation offers essential healthcare services to those in need. All of the organization's facilities operate on a non-profit basis.
As resources permit and upon the approval of the Board of Directors, the Ocoee Foundation Inc makes contributions to other organizations exempt from income taxation under Section 501(c)(3) of the Internal Revenue Code. The Foundation's mission is to provide crucial resources and support to vulnerable populations, ensuring they have access to essential services and a safe living environment. By focusing on the needs of the elderly, disabled, and economically disadvantaged, the Ocoee Foundation Inc strives to enhance the quality of life for these individuals and contribute to their overall well-being.
In essence, the Ocoee Foundation Inc serves as a beacon of hope for those who require assistance in meeting their most basic needs. By providing a range of facilities and services tailored to the unique requirements of various populations, the organization fosters an environment of care, compassion, and inclusion. Through its ongoing efforts, the Ocoee Foundation Inc continues to make a significant impact on the lives of countless individuals, offering them the opportunity to live with dignity and security.
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Impact
October, 2024
Ocoee Foundation Inc significantly impacts the community by establishing and operating a range of facilities, including hospitals, nursing homes, and residential assisted living spaces. These facilities are designed to meet the diverse needs of vulnerable populations such as the elderly, disabled, and economically disadvantaged individuals.
By providing essential health care services and personal support in a nurturing environment, the Foundation ensures that residents have access to quality care tailored to their unique needs. The focus on maintaining these facilities on a non-profit basis emphasizes a commitment to the welfare of residents rather than profit generation, enhancing financial security for those served.
Additionally, the Foundation fosters community well-being by potentially contributing to other organizations that meet similar charitable objectives. Through these efforts, Ocoee Foundation Inc plays a critical role in promoting health, dignity, and quality of life for those who might otherwise be underserved.
This information is meant to be a general summary of Ocoee 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.
- Investment Income: -$1,719,996
- Program Service Revenue: $61,772,591
- Gross Receipts: $68,012,700
Assets and Liabilities:
- Total Assets: $61,804,087
- Total Liabilities: $25,905,333
- Net Assets: $35,898,754
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEDICARE/MEDICAID INCOME
Revenue
$42,158,051
NURSING FACILITY INCOME
Revenue
$17,380,786
ASSISTED LIVING INCOME
Revenue
$2,233,754
Organization Details
Founding Year
2000
Principal Officer
John Sheehan Jr
Main Address
3555 KEITH ST NW SUITE 101, CLEVELAND, TN, 37312
Website
www.ocoeefoundation.orgNTEE Category
Code: E91 - Health
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