Overview
What is Wealthnet Charitable Gift Fund?
Wealthnet Charitable Gift Fund is a donor-advised fund based in San Rafael, California. This nonprofit organization serves as a platform for individuals to donate funds, which are then scrutinized and, if suitable, granted to eligible 501c3 charities as per the donors' requests. The primary function of Wealthnet Charitable Gift Fund is to act as an intermediary, facilitating charitable contributions and fulfilling the philanthropic wishes of its donors.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (29% Score)
Wealthnet Charitable Gift Fund has received a low score of 29% from Charity Navigator, resulting in a Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the organization’s accountability and financial practices. The overall score is solely based on the Accountability & Finance beacon, highlighting a lack of transparency and reliability in financial reporting, with no financial statements available for review.
The charity demonstrates some strengths, such as having an entirely independent board and no material diversion of assets. However, serious weaknesses are noted, including the absence of key policies such as conflict of interest, whistleblower, and document retention and destruction policies. Additionally, the program expense ratio is very low at 7.71%, signaling that a minimal portion of funds is being directed towards its programs.
Overall, the lack of transparency and essential governance policies raises red flags about Wealthnet Charitable Gift Fund's operations. Potential donors should exercise caution and consider these limitations when evaluating the organization's credibility and effectiveness in fulfilling its charitable mission.
This AI summary has been generated from information found on Charity Navigator.
Is Wealthnet Charitable Gift Fund legitimate?
Wealthnet Charitable Gift Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wealthnet Charitable Gift Fund 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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Official website here: www.none
What is the mission statement of Wealthnet Charitable Gift Fund?
The Wealthnet Charitable Gift Fund serves as a donor-advised fund, collecting contributions from individuals. The primary mission of this organization is to facilitate grants, upon request, to eligible 501c3 charities. The fund acts as a bridge between donors and worthy charitable organizations, ensuring that the donors' intentions are carried out by making permissible grants to qualified charities following a review process. This philanthropic organization plays a crucial role in channeling resources to support various causes and organizations that align with its donors' values.
Official website here: www.none
Who is the CEO of Wealthnet Charitable Gift Fund?
Robert Margetic is the President of Wealthnet Charitable Gift Fund.
Official website here: www.none
What is the revenue of Wealthnet Charitable Gift Fund?
Wealthnet Charitable Gift Fund's revenue in 2022 was $854,290.
Official website here: www.none
Who are the executives of Wealthnet Charitable Gift Fund and what are their salaries?
There 2 volunteers at Wealthnet Charitable Gift Fund.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Wealthnet Charitable Gift Fund
Wealthnet Charitable Gift Fund, as a donor-advised fund, plays a crucial role in facilitating charitable giving. Its primary mission is to collect donations from individuals and then grant these funds to eligible 501c3 charities, as per the wishes of the donors. This organization serves as a bridge between philanthropists and deserving nonprofits, ensuring that the donations are utilized effectively and in accordance with the donor's intentions. The grant-making process at Wealthnet Charitable Gift Fund involves a thorough review of the donor's requests to ensure that the grants are permissible and align with the qualifications of the intended charities. In essence, Wealthnet Charitable Gift Fund empowers individuals to make a significant impact in the charitable sector by channeling their donations to worthy causes.
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Impact
July, 2024
Wealthnet Charitable Gift Fund enables individuals to have an impact on philanthropy by collecting donations and making grants to qualified 501(c)(3) charities. Through its donor advised fund model, Wealthnet Charitable Gift Fund empowers donors to support causes they are passionate about and make a difference in their communities and beyond. This approach allows for targeted and personalized giving that can address a wide range of social issues and make a positive impact on society.
This information is meant to be a general summary of Wealthnet Charitable Gift Fund. 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: $349,364
- Gross Receipts: $1,196,281
Assets and Liabilities:
- Total Assets: $4,714,850
- Total Liabilities: $0
- Net Assets: $4,714,850
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Organization Details
Founding Year
2001
Phone
(415) 699-2982Principal Officer
Robert Margetic
Main Address
165 N REDWOOD DR STE 170, SAN RAFAEL, CA, 949034302
Website
www.noneNTEE Category
Code: T30 - Philanthropy
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