Overview
What is Albert W Loftin Charitable Trust?
The Albert W Loftin Charitable Trust is a nonprofit organization with a mission centered around medical research and scholarships. By engaging in scientific and educational activities, the trust aims to contribute to the advancement of knowledge and support in these fields. The trust distributes funds to various organizations that align with its purpose, furthering its commitment to medical research and academic pursuits.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (51%)
The Albert W Loftin Charitable Trust has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The charity's overall score of 51% reflects a lack of independent governance, with no independent board members and several missing policies that are critical for transparency and ethical management.
Despite the low rating, the organization does exhibit some positive financial indicators, such as a program expense ratio of 68.06%, which suggests that a majority of its expenses are directed towards its charitable programs. However, the absence of essential governance documents, such as a conflict of interest policy and whistleblower policy, raises red flags about the charity's commitment to ethical operations.
Overall, potential donors and supporters may want to exercise caution and seek more information about the Albert W Loftin Charitable Trust's governance practices before contributing. Transparency and accountability are crucial for trust in charitable organizations, and this nonprofit has substantial room for improvement in these areas.
This AI summary has been generated from information found on Charity Navigator.
Is Albert W Loftin Charitable Trust legitimate?
Albert W Loftin Charitable Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albert W Loftin Charitable Trust 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: $10,205
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Albert W Loftin Charitable Trust?
The Albert W Loftin Charitable Trust is committed to pursuing scientific and educational objectives. Its mission is primarily focused on making contributions to organizations for the advancement of medical research and scholarships. By doing so, the trust aims to contribute to the broader scientific community and support the development of new knowledge and insights.
Who is the CEO of Albert W Loftin Charitable Trust?
Bancorpsouth Asset Management is the Principal Officer of Albert W Loftin Charitable Trust.
What is the revenue of Albert W Loftin Charitable Trust?
Albert W Loftin Charitable Trust's revenue in 2022 was $64,583.
Who are the executives of Albert W Loftin Charitable Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $10,205
- Related: $0
- Other: $0
Where can I find the form 990 for Albert W Loftin Charitable Trust?
Albert W Loftin Charitable Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Albert W Loftin Charitable Trust
The Albert W Loftin Charitable Trust is a nonprofit organization dedicated to serving a scientific and educational purpose. Its mission revolves around making distributions to various organizations with the primary goal of supporting medical research and providing scholarships. By doing so, the Trust aims to contribute to the advancement of medical knowledge and the education of individuals in this field.
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Impact
October, 2024
The Albert W Loftin Charitable Trust significantly impacts the fields of medical research and education. By providing financial support to various organizations, it fosters advancements in scientific knowledge and innovation. The trust particularly focuses on distributing funds for medical research initiatives, which can lead to breakthroughs in healthcare and improve patient outcomes. Additionally, it awards scholarships, thereby supporting students in their educational pursuits. This commitment not only enhances individual learning experiences but also contributes to a well-informed future generation, ultimately benefiting the broader community in Tupelo, MS, and beyond. Through its philanthropic efforts, the trust plays a vital role in driving research and education forward.
This information is meant to be a general summary of Albert W Loftin Charitable Trust. 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: $64,583
- Gross Receipts: $181,345
Assets and Liabilities:
- Total Assets: $1,287,588
- Total Liabilities: $0
- Net Assets: $1,287,588
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Organization Details
Founding Year
1990
Phone
(903) 334-7502Principal Officer
Bancorpsouth Asset Management
Main Address
2910 WEST JACKSON ST BLDG A, TUPELO, MS, 38801
NTEE Category
Code: T00 - Philanthropy
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