Overview
What is Gripp Memorial Youth Foundation Inc?
Gripp Memorial Youth Foundation Inc is a nonprofit organization that primarily focuses on raising funds for the higher education of students pursuing agricultural programs. They accomplish this through an annual roping event held during the first weekend of August. The proceeds from this event are then distributed as scholarships, honoring the foundation's name. The foundation's mission is to support and invest in the future of agriculture by providing financial assistance to dedicated students.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
Gripp Memorial Youth Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score is derived solely from its Accountability & Finance metrics, which scored 50%. The lack of independent board members and missing financial statements are key factors contributing to the low rating.
The foundation's program expense ratio is relatively high at 85.90%, suggesting that the majority of its funds are directed towards programs rather than administrative costs. However, critical components like independent oversight, conflict of interest policies, and transparency measures are notably absent, which raises questions about governance and operational integrity.
Additionally, the absence of key documents such as financial statements and board meeting minutes further highlights a lack of accountability. This limited transparency may hinder potential donors and stakeholders from assessing the nonprofit's effectiveness and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Gripp Memorial Youth Foundation Inc legitimate?
Gripp Memorial Youth Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gripp Memorial Youth 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Gripp Memorial Youth Foundation Inc?
The Gripp Memorial Youth Foundation Inc's mission is centered around raising funds through an annual roping event. The primary goal is to support students pursuing higher education in agricultural programs. This support is materialized through scholarships, funded in the name of the foundation. The scholarship funds are intended to alleviate the financial burden associated with education, thereby enabling these students to further their studies in the agricultural field. The foundation's activities are primarily focused on this educational support initiative.
Who is the CEO of Gripp Memorial Youth Foundation Inc?
Chris Cabbiness is the Treasurer of Gripp Memorial Youth Foundation Inc. The CEO's salary of Gripp Memorial Youth Foundation Inc is $0 and their total compensation is $0.
What is the revenue of Gripp Memorial Youth Foundation Inc?
Gripp Memorial Youth Foundation Inc's revenue in 2022 was $1,221,116.
Who are the executives of Gripp Memorial Youth Foundation Inc and what are their salaries?
Here are 5 key members and their salaries (Gripp Memorial Youth Foundation Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Gripp Memorial Youth Foundation Inc?
Gripp Memorial Youth Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gripp Memorial Youth Foundation Inc
Gripp Memorial Youth Foundation Inc, a nonprofit organization, is primarily dedicated to raising funds through an annual roping event held in August. The primary objective of this event is to accumulate proceeds, which are then utilized to provide financial aid for the higher education expenses of students pursuing agricultural programs. This assistance comes in the form of scholarships, awarded in the name of the Foundation, thereby enabling deserving students to further their academic journey in the agricultural field.
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Impact
July, 2024
The Gripp Memorial Youth Foundation Inc's impact is significant in providing funding for higher education expenses of students in agricultural programs. Through their annual roping event held in August, the foundation raises money to award scholarships in the name of the Foundation. This direct support helps students pursue their educational goals in the field of agriculture, contributing to the development of future professionals in this important industry.
This information is meant to be a general summary of Gripp Memorial Youth 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: $21,959
- Program Service Revenue: $921,709
- Gross Receipts: $1,252,532
Assets and Liabilities:
- Total Assets: $1,159,804
- Total Liabilities: $0
- Net Assets: $1,159,804
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROPING EVENT INCOME
Revenue
$921,709
Organization Details
Principal Officer
Chris Cabbiness
Main Address
PO BOX 2237, HEREFORD, TX, 79045
NTEE Category
Code: B82 - Education
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