Overview
What is Olm Strong Foundation Inc?
Olm Strong Foundation Inc, located at 3 Matthew CT, Madison, CT 06443, is a charitable organization with a mission to financially support Our Lady of Mercy School of Madison, Inc. Established to operate exclusively for charitable purposes, the foundation engages in activities to support its cause and makes contributions through its facilities to organizations, including Our Lady of Mercy School, that qualify under Section 501(C)(3) of the Internal Revenue Code. The foundation's primary aim is to solicit charitable contributions and other funds to provide financial assistance and scholarships to students of Our Lady of Mercy School of Madison, Inc., thereby enhancing their educational opportunities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Olm Strong Foundation Inc has received a Three-Star rating from Charity Navigator, indicating a decent level of accountability and financial health. With a score of 77%, the organization shows strengths particularly in its governance structure, as it has a fully independent board and effectively documents its board meeting minutes. Additionally, it maintains a good liabilities to assets ratio and a strong program expense ratio, suggesting that it is managing its resources effectively to fulfill its mission.
However, the foundation's fundraising efficiency ratio presents a significant area of concern, scoring only 0.0025 out of the possible 25 points. This low score suggests challenges in its fundraising strategies, which may impact its overall financial sustainability and ability to grow its initiatives. Stakeholders may wish to examine how the organization plans to address this issue moving forward.
In summary, while the Olm Strong Foundation Inc demonstrates a solid commitment to governance and financial management, improvements in its fundraising efficiency could enhance its operational effectiveness and long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Olm Strong Foundation Inc legitimate?
Olm Strong Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olm Strong 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
What is the mission statement of Olm Strong Foundation Inc?
The Olm Strong Foundation Inc is established with the primary purpose of operating for charitable causes. It achieves this by engaging in activities that support its objectives and making financial contributions to organizations, such as Our Lady of Mercy School of Madison Inc, which qualify under Section 501(C)(3) of the Internal Revenue Code. The foundation's main mission is to solicit charitable contributions and other funds to provide financial aid and student scholarships for the students of Our Lady of Mercy School of Madison Inc. In essence, the Olm Strong Foundation Inc raises funds to financially support this educational institution.
Who is the CEO of Olm Strong Foundation Inc?
Joseph Piagentini is the President of Olm Strong Foundation Inc.
What is the revenue of Olm Strong Foundation Inc?
Olm Strong Foundation Inc's revenue in 2022 was $2,825,053.
Who are the executives of Olm Strong Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Olm Strong Foundation Inc?
Olm Strong Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Olm Strong Foundation Inc
The Olm Strong Foundation Inc, with a mission rooted in charitable purposes, actively engages in activities that support its objectives and makes financial and in-kind contributions to organizations, including Our Lady of Mercy School of Madison Inc. The primary aim of the foundation is to solicit charitable contributions and other funds to provide financial assistance and scholarships to the students of Our Lady of Mercy School of Madison Inc. This support includes offering financial aid, which is a vital resource for many students, enabling them to pursue their education without financial constraints. The Olm Strong Foundation Inc's mission is instrumental in empowering the students of Our Lady of Mercy School of Madison Inc, contributing to their academic success and overall development.
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Impact
July, 2024
Olm Strong Foundation Inc's impact lies in its commitment to providing financial support and other benefits to the students of Our Lady of Mercy School of Madison, Inc. Through fundraising efforts and charitable contributions, the foundation ensures that students have access to necessary resources such as financial aid and scholarships. By supporting the educational pursuits of these students, Olm Strong Foundation Inc plays a vital role in promoting academic success and opportunity within the community.
This information is meant to be a general summary of Olm Strong 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: $20
- Gross Receipts: $2,825,053
Assets and Liabilities:
- Total Assets: $2,323,346
- Total Liabilities: $0
- Net Assets: $2,323,346
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Organization Details
Founding Year
2018
Phone
(203) 689-5101Principal Officer
Joseph Piagentini
Main Address
3 MATTHEW CT, MADISON, CT, 06443
NTEE Category
Code: T30 - Philanthropy
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