Overview
What is Fayette Community Foundation?
The Fayette Community Foundation is a nonprofit organization situated in La Grange, Texas. Their primary role involves managing and dispersing donated funds for the betterment of the local community and its residents. This includes funding designated for individual scholarship recipients. They strive to serve the community's evolving needs by acting as a conduit for charitable contributions, ensuring that donations are allocated according to the donor's wishes and the community's ever-changing requirements. With a small team of one dedicated individual, the Fayette Community Foundation plays a crucial role in strengthening and uplifting their community.
Official website here: www.fayettecommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, earning it a Two-Star out of Four Star rating. The Fayette Community Foundation has demonstrated solid performance in several key accountability and finance metrics, such as having a fully independent board and a favorable liabilities to assets ratio. However, their overall rating reflects some concerns, particularly due to the absence of key governance policies.
While the foundation scored well in maintaining an independent board and providing documented board meeting minutes, it has significant shortcomings. Specifically, it lacks a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which are critical for transparency and accountability. Additionally, the lack of a posted tax form on their website detracts from their accessibility.
The foundation's program expense ratio is commendable, indicating a strong allocation of resources toward its mission. However, the missing governance policies could raise questions about the organization's integrity and operational oversight. Addressing these gaps could improve their rating in the future and enhance public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Fayette Community Foundation legitimate?
Fayette Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fayette Community 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $47,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,800
For more financial information, click here
Official website here: www.fayettecommunityfoundation.org
What is the mission statement of Fayette Community Foundation?
The Fayette Community Foundation serves its local community by providing a platform to receive and distribute charitable funds. This is done in accordance with the donors' wishes and the evolving needs of the community. The foundation's mission is to channel donated funds to various local charities, thereby benefiting the community and its residents. Additionally, the foundation also sets aside funds for individual scholarship recipients.
Official website here: www.fayettecommunityfoundation.org
Who is the CEO of Fayette Community Foundation?
Cathy Horn is the Director Emeritus of Fayette Community Foundation.
Official website here: www.fayettecommunityfoundation.org
What is the revenue of Fayette Community Foundation?
Fayette Community Foundation's revenue in 2022 was $712,258.
Official website here: www.fayettecommunityfoundation.org
Who are the executives of Fayette Community Foundation and what are their salaries?
The average compensation at Fayette Community Foundation during 2022 was $52,300. There is 1 employee at Fayette Community Foundation.
Here are 11 key members and their salaries:
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- Compensation: $52,300
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Official website here: www.fayettecommunityfoundation.org
Where can I find the form 990 for Fayette Community Foundation?
Fayette Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fayettecommunityfoundation.org
Learn more at the official website: www.fayettecommunityfoundation.org
Mission Statement of Fayette Community Foundation
The Fayette Community Foundation serves its community by providing a platform for the receipt and distribution of charitable funds. This organization is guided by the wishes of its donors and the evolving needs of the community itself. Its primary mission is to channel donated funds to local charities, thereby benefiting the community and its residents. Additionally, the foundation offers scholarship opportunities to individual recipients, further supporting the community's members in their educational pursuits. By acting as a mediator between donors and the community, the Fayette Community Foundation plays a crucial role in addressing the changing needs of its locality.
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Impact
July, 2024
Fayette Community Foundation plays a vital role in supporting the local community of La Grange, Texas. By providing a channel for receiving and distributing charitable funds, the foundation directly impacts the lives of residents and organizations in the area. Through the distribution of donated funds to local charities and scholarship recipients, the foundation significantly contributes to the betterment of the community. Its commitment to philanthropy enables it to address the changing needs of the community and fulfill the wishes of donors, making a meaningful and lasting impact on La Grange and its residents.
This information is meant to be a general summary of Fayette Community 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: $24,151
- Program Service Revenue: $3,000
- Gross Receipts: $729,965
Assets and Liabilities:
- Total Assets: $1,335,336
- Total Liabilities: $2,875
- Net Assets: $1,332,461
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE DONATI
Revenue
$3,000
Organization Details
Founding Year
2002
Phone
(979) 968-9575Principal Officer
Cathy Horn
Main Address
PO BOX 664, LA GRANGE, TX, 789450430
NTEE Category
Code: T30 - Philanthropy
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