Overview
What is Covantage Cares Foundation Inc?
Covantage Cares Foundation Inc is a charitable organization, based in Antigo, Wisconsin, with a mission to enhance the quality of life for residents in the communities served by Covantage Credit Union (CCU). They achieve this by providing financial assistance to individuals facing significant financial challenges and supporting organizations that work towards the same goal. The foundation's activities are centered on offering financial aid, helping to alleviate hardships and improve living conditions for people in these communities.
Official website here: www.covantagecu.org/cares
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
The Covantage Cares Foundation Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its overall operations. The charity's accountability and finance score of 73% reflects a mix of strengths and weaknesses in its governance practices. While it has a solid audit and oversight committee, the organization lacks independent board members and has not documented key policies such as whistleblower protections and document retention protocols.
Financially, the foundation demonstrates a commendable program expense ratio of 100%, indicating that it allocates all of its resources towards its mission-related activities. However, the absence of transparency in board governance and the low scores in critical areas like tax form availability on its website suggest potential areas for growth. The compensation for key personnel is notably high, with the president earning over $600,000, which may raise concerns among stakeholders regarding the allocation of funds.
Overall, while Covantage Cares Foundation shows a commitment to its programs, enhancing governance practices and increasing transparency could significantly improve its standing and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Covantage Cares Foundation Inc legitimate?
Covantage Cares Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covantage Cares 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
Official website here: www.covantagecu.org/cares
What is the mission statement of Covantage Cares Foundation Inc?
Covantage Cares Foundation Inc is established for charitable and educational purposes, primarily focusing on providing financial assistance to individuals facing significant financial challenges and supporting organizations that enhance the quality of life in the communities served by Covantage Credit Union. The foundation's mission is to offer financial aid to those in need and to strengthen the community by backing organizations that share this goal. Throughout the year, the foundation grants funds to various organizations, aiming to uplift the living standards of residents in these communities.
Official website here: www.covantagecu.org/cares
Who is the CEO of Covantage Cares Foundation Inc?
Charles Zanayed is the President of Covantage Cares Foundation Inc.
Official website here: www.covantagecu.org/cares
What is the revenue of Covantage Cares Foundation Inc?
Covantage Cares Foundation Inc's revenue in 2022 was $503,456.
Official website here: www.covantagecu.org/cares
Who are the executives of Covantage Cares Foundation Inc and what are their salaries?
There 5 volunteers at Covantage Cares Foundation Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $621,952
- Other: $58,269
- Compensation: $0
- Related: $307,378
- Other: $65,924
- Compensation: $0
- Related: $267,410
- Other: $31,657
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $137,010
- Other: $30,446
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.covantagecu.org/cares
Where can I find the form 990 for Covantage Cares Foundation Inc?
Covantage Cares Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.covantagecu.org/cares
Learn more at the official website: www.covantagecu.org/cares
Mission Statement of Covantage Cares Foundation Inc
Covantage Cares Foundation Inc is an organization dedicated to charitable and educational purposes. Its mission is to extend financial assistance to individuals, particularly those grappling with significant financial challenges, and to organizations striving to improve the quality of life of residents living in the communities served by Covantage Credit Union. The foundation operates with the goal of providing aid to those in need and supporting organizations that share its vision of enhancing the well-being of the community. Throughout the year, Covantage Cares Foundation Inc grants funds to various organizations that align with its mission, aiming to positively impact the lives of residents in the respective communities.
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Impact
July, 2024
Covantage Cares Foundation Inc's impact can be seen in the financial assistance provided to individuals facing significant financial challenges and to organizations dedicated to improving the quality of life for residents in the communities served by Covantage Credit Union. Through several grants awarded to organizations aligned with its mission, the foundation actively contributes to enhancing community well-being and supporting those in need. Its philanthropic efforts reflect a commitment to charitable and educational purposes, making a tangible difference in the lives of individuals and communities within its reach.
This information is meant to be a general summary of Covantage Cares 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: $1,368
- Gross Receipts: $503,456
Assets and Liabilities:
- Total Assets: $370,940
- Total Liabilities: $0
- Net Assets: $370,940
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Organization Details
Founding Year
2016
Phone
(715) 627-4336Principal Officer
Charles Zanayed
Main Address
723 6TH AVE PO BOX 107, ANTIGO, WI, 54409
Website
www.covantagecu.org/caresNTEE Category
Code: T30 - Philanthropy
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