Overview
What is Slemco Electric Foundation?
The Slemco Electric Foundation is a compassionate nonprofit organization situated in Southwest Louisiana. Established by contributions from SLEMCO's membership and other suitable resources, as determined by the board, its primary mission is to offer financial aid to disadvantaged individuals and families residing in the area. The foundation's charitable activities primarily involve distributing donations to those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
The Slemco Electric Foundation has earned a Four-Star out of Four Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization achieved an impressive score of 94% in this category, indicating that it effectively utilizes its resources and maintains transparency in its financial operations. Key strengths include a majority of independent board members, a comprehensive conflict of interest policy, and robust financial oversight mechanisms.
The foundation shows solid financial health with a low liabilities to assets ratio of 9.59%, suggesting a stable financial position. Additionally, it allocates a significant portion of its expenses, approximately 73.86%, towards its programs, which is a strong indicator of its commitment to fulfilling its mission. The presence of well-defined governance policies further enhances the foundation’s credibility.
While the foundation's performance is commendable, it is important for potential donors to consider these metrics as part of their overall assessment of impact and effectiveness. The foundation's strong accountability practices and sound financial management make it a reliable choice for those looking to support nonprofit initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Slemco Electric Foundation legitimate?
Slemco Electric Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Slemco Electric Foundation 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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What is the mission statement of Slemco Electric Foundation?
The Slemco Electric Foundation, as a non-profit organization, is committed to providing financial aid to underprivileged individuals and families residing in Southwest Louisiana. Their mission is primarily funded through charitable donations from the membership of Southwest Louisiana Electric Membership Corporation (SLEMCO) and other appropriate sources, as decided by the organization's board of directors. The primary goal of the foundation is to offer financial support to those in need, thereby contributing to their wellbeing and improving their living conditions.
Who is the CEO of Slemco Electric Foundation?
Glenn Tamporello is the President of Slemco Electric Foundation.
What is the revenue of Slemco Electric Foundation?
Slemco Electric Foundation's revenue in 2022 was $481,756.
Who are the executives of Slemco Electric Foundation and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Slemco Electric Foundation?
Slemco Electric Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Slemco Electric Foundation
The Slemco Electric Foundation, a non-profit organization, is dedicated to extending charitable contributions to individuals and families in need within Southwest Louisiana. Funded primarily by the generosity of its members from the Southwest Louisiana Electric Membership Corporation (SLEMCO) and additional sources, as approved by its board of directors, this organization serves as a beacon of hope for those facing financial hardships. The Slemco Electric Foundation's mission is to provide essential financial aid, striving to improve the well-being of its community members.
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Impact
July, 2024
The Slemco Electric Foundation's impact is centered on providing vital financial assistance to individuals and families in need within Southwest Louisiana. By distributing charitable donations received from various sources, including the membership of Southwest Louisiana Electric Membership Corporation (SLEMCO), the foundation plays a crucial role in supporting those facing economic challenges in the region. Through its activities, the foundation contributes to improving the well-being and quality of life of vulnerable members of the community, embodying its mission to provide critical human services to those in need.
This information is meant to be a general summary of Slemco Electric Foundation. 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: $706
- Gross Receipts: $481,756
Assets and Liabilities:
- Total Assets: $134,568
- Total Liabilities: $28,072
- Net Assets: $106,496
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Organization Details
Founding Year
1994
Phone
(337) 896-5384Principal Officer
Glenn Tamporello
Main Address
PO BOX 90866, LAFAYETTE, LA, 705090866
NTEE Category
Code: P20 - Human services
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