Overview
What is Smeco Charitable Foundation Inc?
Smeco Charitable Foundation Inc, based in Hughesville, Maryland, serves as a conduit for SMECO's charitable activities. It generates funds through various events such as golf tournaments, walkathons, bike rides, and community events. These events raise funds, which the foundation then contributes directly or awards as grants to other charitable organizations, many of which are exempt from income tax under Section 501(C)(3) of the Internal Revenue Code. The foundation's primary purpose is to contribute to causes in the realms of charity, science, literature, and education, aiming to make a positive impact in these areas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
The Smeco Charitable Foundation Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 80%. This score is entirely based on the charity's Accountability & Finance metrics, which indicate a strong commitment to transparency and responsible financial management. The foundation has shown excellence in various areas, including having a fully independent board and a notable program expense ratio.
The foundation's governance structure is commendable, with all board members being independent and an effective size of nine members. They have also demonstrated a commitment to ethical practices, as evidenced by the absence of material asset diversions and having a conflict of interest policy in place. Their liabilities are low relative to assets, further showcasing their financial stability.
However, while the financial health indicators are encouraging, there is no additional information provided about the charity's programmatic impact or outcomes. This lack of detail may leave potential donors wanting more insight into how their contributions are making a difference. Overall, the Smeco Charitable Foundation Inc appears to be a responsibly managed organization with strong financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Smeco Charitable Foundation Inc legitimate?
Smeco Charitable Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Smeco Charitable 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
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What is the mission statement of Smeco Charitable Foundation Inc?
The Smeco Charitable Foundation Inc serves as a platform for channeling charitable activities initiated by SMECO. They utilize the earnings from various events such as golf tournaments, walkathons, bike rides, and other community events, as well as their principal assets. This organization's primary purpose is to contribute directly to charitable, scientific, literary, and educational causes. Furthermore, they grant funds to other organizations that fall under Section 501(C)(3) of the Internal Revenue Code, which exempts them from income tax. In summary, the Smeco Charitable Foundation Inc acts as a conduit for SMECO's charitable activities, fostering growth in areas like education, science, and literature through grants and contributions.
Who is the CEO of Smeco Charitable Foundation Inc?
Sonja M Cox is the Vice Preside of Smeco Charitable Foundation Inc.
What is the revenue of Smeco Charitable Foundation Inc?
Smeco Charitable Foundation Inc's revenue in 2022 was $66,429.
Who are the executives of Smeco Charitable Foundation Inc and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $697,696
- Other: $290,883
- Compensation: $0
- Related: $586,736
- Other: $265,128
- Compensation: $0
- Related: $304,029
- Other: $99,242
- Compensation: $0
- Related: $36,900
- Other: $0
- Compensation: $0
- Related: $34,200
- Other: $0
- Compensation: $0
- Related: $33,400
- Other: $0
- Compensation: $0
- Related: $28,000
- Other: $0
- Compensation: $0
- Related: $24,800
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
Where can I find the form 990 for Smeco Charitable Foundation Inc?
Smeco Charitable Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Smeco Charitable Foundation Inc
Smeco Charitable Foundation Inc serves as a channel for the charitable endeavors of SMECO, utilizing earnings from events such as golf tournaments, walkathons, bike rides, and other community activities, as well as its principal assets. The foundation's primary purpose is to contribute directly and grant funds to various organizations, with a focus on those that fall under the 501(c)(3) exemption of the Internal Revenue Code. This includes charitable, scientific, literary, and educational institutions. In essence, Smeco Charitable Foundation Inc functions as a charitable intermediary, using its resources to support and uplift other organizations that share similar objectives.
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Impact
August, 2024
Smeco Charitable Foundation Inc's impact is felt through its active involvement in hosting and participating in various events such as golf tournaments, walkathons, bike rides, and other community activities. These events generate proceeds that are then utilized to benefit other organizations, particularly those exempt from income under section 501(c)(3) of the Internal Revenue Code. By applying its income and principal assets exclusively for charitable, scientific, literary, and educational purposes, the foundation serves as a conduit for Smeco's philanthropic endeavors. Through direct contributions and the awarding of grants, Smeco Charitable Foundation Inc plays a vital role in supporting and enriching the community.
This information is meant to be a general summary of Smeco Charitable 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: $4
- Gross Receipts: $87,671
Assets and Liabilities:
- Total Assets: $290,314
- Total Liabilities: $48,568
- Net Assets: $241,746
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Organization Details
Founding Year
2016
Phone
(301) 274-3111Principal Officer
Sonja M Cox
Main Address
PO BOX 74, HUGHESVILLE, MD, 20637
NTEE Category
Code: T21 - Philanthropy
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