Overview
What is Weatherford Foundation Inc?
Weatherford Foundation Inc, based in Houston, Texas, is a charitable organization that plays a significant role in providing relief and support. Primarily, they assist Weatherford's employees and affiliates impacted by presidentially declared disasters. Beyond this, they also extend their fundraising efforts to support various select 501(c)(3) public charities. During a recent event, Weatherford Walk, the foundation raised a substantial sum of $571,803, which was distributed among Save the Children Ukraine, Camp Hope of Veteran PTSD, Houston Area Women's Center, Small Steps Nurturing Center, and Spindletop. This nonprofit organization demonstrates a commendable commitment to helping those in need, both within and outside their immediate community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating.
The Weatherford Foundation Inc has received a solid score of 79%, reflecting a strong emphasis on accountability and finance. This rating is derived fully from their performance in the Accountability & Finance beacon, indicating effective fiscal management and transparency. The foundation boasts a fully independent board, which contributes positively to its governance structure.
Key strengths of the organization include a high program expense ratio of 91.23%, demonstrating a commitment to channeling funds towards its mission rather than administrative costs. Additionally, the foundation has no material diversion of assets and implements thorough policies for conflict of interest, whistleblower protection, and document retention, ensuring robust governance practices are in place.
However, while the foundation shows strong financial accountability and transparency, the single beacon score indicates that there may be limited information on other aspects of the organization, such as its impact or service delivery. Further insights into the foundation's operational effectiveness beyond financial metrics could provide a more comprehensive view of its overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Weatherford Foundation Inc legitimate?
Weatherford Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Weatherford 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 Weatherford Foundation Inc?
Weatherford Foundation Inc's primary mission is to offer relief to employees of Weatherford U.S. LP and its affiliates who have been affected by a presidentially declared disaster. Additionally, the foundation supports selected 501(c)(3) public charities by providing funding. Recently, Weatherford Foundation Inc. collected donations worth $571,803 during the Weatherford Walk event and fundraiser, which was held for Save the Children Ukraine. A portion of these funds was distributed to Save the Children Ukraine, as well as to Camp Hope of Veteran PTSD, Houston Area Women's Center, Small Steps Nurturing Center, and Spindletop, all of which are 501(c)(3) charitable organizations.
Who is the CEO of Weatherford Foundation Inc?
Steven Carvalho is the President & Director of Weatherford Foundation Inc.
What is the revenue of Weatherford Foundation Inc?
Weatherford Foundation Inc's revenue in 2022 was $571,803.
Who are the executives of Weatherford Foundation Inc and what are their salaries?
There 20 volunteers at Weatherford Foundation Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Weatherford Foundation Inc?
Weatherford Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Weatherford Foundation Inc
Weatherford Foundation Inc, a charitable organization, is dedicated to offering aid to the employees of Weatherford U.S. LP and its affiliates who have been affected by presidentially declared disasters. Moreover, the foundation supports the funding of selected 501(c)(3) public charities. In response to the Weatherford Walk event and fundraiser for Save the Children Ukraine, Weatherford Foundation Inc received donations totaling $571,803 from the company's customers, vendors, employees, and members of the board of directors. The organization then distributed a portion of these funds to various charities, with Save the Children Ukraine receiving $100,000 and four other 501(c)(3) organizations each receiving $71,000, namely Camp Hope of Veteran PTSD, Houston Area Women's Center, Small Steps Nurturing Center, and Spindletop. In this manner, Weatherford Foundation Inc demonstrates its commitment to providing relief and financial assistance to those in need during challenging times and supporting worthy charitable causes.
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Impact
July, 2024
The Weatherford Foundation Inc has made a significant impact by providing relief to employees of Weatherford and its affiliates who are affected by presidentially declared disasters. Additionally, they support selected 501(c)(3) public charities through fundraising and donations. Notably, the foundation collected over $570,000 through the Weatherford Walk event, distributing substantial amounts to organizations such as Save the Children Ukraine, Camp Hope of Veteran PTSD, Houston Area Women's Center, Small Steps Nurturing Center, and Spindletop. This support demonstrates the foundation's commitment to public safety and assisting individuals in need during times of crisis.
This information is meant to be a general summary of Weatherford 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.
- Gross Receipts: $571,803
Assets and Liabilities:
- Total Assets: $439,972
- Total Liabilities: $0
- Net Assets: $439,972
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Organization Details
Founding Year
2017
Phone
(713) 836-4000Principal Officer
Steven Carvalho
Main Address
2000 ST JAMES PLACE, HOUSTON, TX, 77056
NTEE Category
Code: M20 - Public safety
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