Overview
What is Big Spring Area Community Foundation?
The Big Spring Area Community Foundation is a nonprofit organization that serves the Big Spring and Howard County areas. Its primary function involves receiving gifts, bequests, and donations, which are then held as endowments. These endowments are intended to provide charitable, cultural, and educational benefits to the community. The foundation supports various educational institutions by offering scholarships and grants to places like Angelo State University, Harding University, Howard College, Lubbock Christian University, McMurry University, and Penn State University. In addition to these activities, the foundation provides general and administrative services, as well as accepts general donations, to further its mission.
Official website here: www.bsacf.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Star Rating
The Big Spring Area Community Foundation has earned a solid Four-Star rating from Charity Navigator, reflecting its strong performance in Accountability & Finance. The foundation scored a commendable 90%, indicating a high level of financial transparency and responsible management practices. Such a rating signifies that the organization effectively utilizes its resources, ensuring that a significant portion of its funds is directed toward its programs.
Strengths highlighted in the assessment include a fully independent board and exemplary financial practices, such as a 92.21% program expense ratio and no material diversions of assets. The organization also exhibits a robust financial structure, evidenced by a low liabilities-to-assets ratio of 16.88% and an impressive working capital ratio of 21.08 years. These factors contribute to the foundation's reputation for sound fiscal management.
However, there are notable limitations in governance policies, as the foundation lacks a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. While these omissions do not seem to affect financial accountability significantly, they could impact the organization’s overall governance framework. Despite these gaps, the foundation's strengths in financial management and transparency mark it as a reliable entity in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Big Spring Area Community Foundation legitimate?
Big Spring Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Big Spring Area 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: $127,107
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.bsacf.org/
What is the mission statement of Big Spring Area Community Foundation?
The Big Spring Area Community Foundation's mission is centered around receiving charitable contributions, bequests, and donations. These funds are held as endowments, intended to provide benefits in the realms of charity, culture, and education for the communities of Big Spring and Howard County. The foundation actively supports various educational institutions by providing scholarships and grants. In addition to this, they offer general donation services and administrative support, contributing to the betterment of the communities they serve.
Official website here: www.bsacf.org/
Who is the CEO of Big Spring Area Community Foundation?
Drew Mouton is the President of Big Spring Area Community Foundation.
Official website here: www.bsacf.org/
What is the revenue of Big Spring Area Community Foundation?
Big Spring Area Community Foundation's revenue in 2022 was $2,326,957.
Official website here: www.bsacf.org/
Who are the executives of Big Spring Area Community Foundation and what are their salaries?
The average compensation at Big Spring Area Community Foundation during 2022 was $127,107. There is 1 employee and 1 volunteer at Big Spring Area Community Foundation.
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Official website here: www.bsacf.org/
Where can I find the form 990 for Big Spring Area Community Foundation?
Big Spring Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bsacf.org/
Learn more at the official website: www.bsacf.org/
Mission Statement of Big Spring Area Community Foundation
The Big Spring Area Community Foundation is an organization that serves to accumulate charitable, cultural, and educational contributions in the form of gifts, bequests, and donations. These endowments are held by the foundation, with the intention of providing benefits to the residents of Big Spring and Howard County areas. In essence, the mission of the Big Spring Area Community Foundation is to act as a steward of these funds, ensuring they are utilized for the betterment of the community, primarily through the provision of scholarships and grants to various educational institutions.
By receiving and managing these endowments, the foundation plays a crucial role in supporting the local educational landscape. Institutions such as Angelo State University, Harding University, Howard College, Lubbock Christian University, McMurry University, and Penn State University are among the beneficiaries of the Big Spring Area Community Foundation's charitable initiatives. Beyond scholarships and grants, the foundation also offers general and administrative services, and accepts general donations, thereby contributing to the community's overall well-being.
In summary, the mission of the Big Spring Area Community Foundation is to serve as a conduit for charitable contributions, transforming these funds into opportunities for education and community enhancement. By managing endowments and allocating resources to deserving institutions and causes, the foundation upholds its commitment to enriching the lives of those residing in Big Spring and Howard County areas.
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Impact
July, 2024
Big Spring Area Community Foundation has made a significant impact in the Big Spring and Howard County areas by receiving gifts, bequests, and donations to be held as endowments. These endowments provide charitable, cultural, and educational benefits to the community. The foundation's support extends to various educational institutions, offering scholarships and grants to students in need. By providing these resources, the foundation helps students pursue their academic goals and contributes to the overall development of the Big Spring and Howard County areas.
This information is meant to be a general summary of Big Spring Area 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: $389,323
- Gross Receipts: $2,326,957
Assets and Liabilities:
- Total Assets: $16,257,242
- Total Liabilities: $2,745,645
- Net Assets: $13,511,597
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Organization Details
Founding Year
2001
Principal Officer
Drew Mouton
Main Address
PO BOX 2007, Big Spring, TX, 79721
Website
www.bsacf.org/NTEE Category
Code: T31 - Philanthropy
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