Overview
What is Wp Support Corporation?
Wp Support Corporation is a nonprofit organization situated in Providence, Rhode Island, with an address at 475 Valley Street, 02908. Their primary mission is to exclusively fundraise and support the operations of Waterfire Providence, a Rhode Island-based nonprofit organization operating under section 501(C)3 of the U.S. tax code. To achieve this, Wp Support Corporation purchased necessary equipment and subsequently leased it back to Waterfire Providence. This partnership allows Waterfire Providence to continue its mission of providing exempt functions and carrying out its purpose of enriching the community through art and cultural events.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 70%, earning it a Two-Star out of Four Star rating. This rating indicates that while Wp Support Corporation demonstrates some strengths, there are significant areas for improvement in their transparency and governance practices.
The organization scored well on several accountability metrics, including maintaining a fully independent board and demonstrating no material diversion of assets. It also reported a solid program expense ratio, indicating that all its expenses are directed towards programs. However, the charity scored poorly on various disclosure policies, including a lack of a conflict of interest policy and failure to post necessary tax forms on their website, which raises concerns about transparency and adherence to best practices.
Overall, Wp Support Corporation shows strong financial health but needs to enhance its governance and transparency measures to improve stakeholder trust and accountability. Addressing these weaknesses could lead to a higher rating in the future and better alignment with best practices for nonprofit management.
This AI summary has been generated from information found on Charity Navigator.
Is Wp Support Corporation legitimate?
Wp Support Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wp Support Corporation 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 Wp Support Corporation?
Wp Support Corporation is dedicated to exclusively raising funds and supporting the functions of Waterfire Providence, a Rhode Island nonprofit operating under Section 501(C)3 of the U.S. tax code. Their primary goal is to aid in carrying out the purposes of Waterfire Providence, with a focus on exempt activities. To accomplish this, Wp Support Corporation has purchased necessary equipment and entered into a lease agreement with Waterfire Providence. In essence, Wp Support Corporation serves as a financial backbone for Waterfire Providence, enabling it to fulfill its mission and objectives.
Who is the CEO of Wp Support Corporation?
Peter Mello is the President of Wp Support Corporation.
What is the revenue of Wp Support Corporation?
Wp Support Corporation's revenue in 2022 was $21,000.
Who are the executives of Wp Support Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $115,360
- Other: $16,986
- Compensation: $0
- Related: $115,359
- Other: $870
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Wp Support Corporation?
Wp Support Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wp Support Corporation
Wp Support Corporation, as a nonprofit organization, is dedicated to exclusively raising funds and supporting the functions of Waterfire Providence, a Rhode Island corporation operating for exempt purposes under Section 501(C)3 of the U.S. tax code. The primary mission of Wp Support Corporation is to aid Waterfire Providence in carrying out its purposes, which encompass the creation and presentation of Waterfire events, a renowned public art installation that attracts visitors from around the world. To accomplish this, Wp Support Corporation procures necessary equipment and leases it back to Waterfire Providence, thereby providing the necessary resources for the organization to thrive and continue its mission of enriching the community through artistic expression and cultural events.
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Impact
August, 2024
Wp Support Corporation's impact is significant in providing crucial support to WaterFire Providence. By exclusively raising funds and supporting the functions of WaterFire Providence, Wp Support Corporation plays a vital role in ensuring the continuation of this renowned cultural event. Through activities such as purchasing equipment and leasing it back to WaterFire Providence, Wp Support Corporation contributes to the sustainability and success of this organization. This support enables WaterFire Providence to fulfill its mission of enriching the community through art and culture, making a positive impact on the city of Providence and beyond.
This information is meant to be a general summary of Wp Support Corporation. 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.
- Gross Receipts: $21,000
Assets and Liabilities:
- Total Assets: $21,782
- Total Liabilities: $4,698
- Net Assets: $17,084
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Organization Details
Founding Year
2016
Phone
(401) 273-1155Principal Officer
Peter Mello
Main Address
475 VALLEY STREET, PROVIDENCE, RI, 02908
NTEE Category
Code: T11 - Philanthropy
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