Overview
What is Weston Memorial Fund?
The Weston Memorial Fund is a charitable organization, specifically established to support the Sandwich Public Library in Sandwich, Massachusetts. This nonprofit manages and invests assets for the library's benefit, ensuring that the income generated is exclusively utilized for maintaining and enhancing the library's operations. Contributions totalling $21,980 were received to further the fund's charitable purpose, while investment income amounting to $70,069 was also received. A portion of the income, $49,527, was transferred to the library for its general support, with office expenses of $1,610 being the only significant expenditure.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
The Weston Memorial Fund has achieved a strong 80% rating, indicating a solid performance in accountability and finance. With a perfect score in independent board composition, the charity features 100% independent members, demonstrating a commitment to governance and oversight. Additionally, they maintain a 0.00% liabilities to assets ratio, reflecting a robust financial health and effective management of resources.
The organization has also excelled in transparency and conflict of interest policies, scoring full points for documenting board meeting minutes and having a clear conflict of interest policy in place. Their program expense ratio is also noteworthy, at 100%, which suggests that all funds raised are directed toward their mission-driven activities.
While the organization shows strong fiscal responsibility and governance practices, continual monitoring of their operations and impact will be important to ensure that they maintain their positive trajectory. Overall, the Weston Memorial Fund appears to be a reliable nonprofit that efficiently utilizes its resources to fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Weston Memorial Fund legitimate?
Weston Memorial Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Weston Memorial Fund 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 Weston Memorial Fund?
The Weston Memorial Fund's primary objective is to support and maintain a public library through the management and investment of its assets. The income generated from these investments is exclusively utilized for the library's upkeep and maintenance. Recently, contributions amounting to $21,980 have been received, furthering the fund's charitable purpose. Additionally, investment income of $70,069 was received, a portion of which, $49,527, was allocated to the library for general support. The fund also covers office expenses, amounting to $1,610.
What is the revenue of Weston Memorial Fund?
Weston Memorial Fund's revenue in 2023 was $106,667.
Who are the executives of Weston Memorial Fund and what are their salaries?
There 3 volunteers at Weston Memorial Fund.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Weston Memorial Fund?
Weston Memorial Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Weston Memorial Fund
The Weston Memorial Fund is an organization dedicated to supporting a public library. Specifically, it manages and invests assets for this purpose, ensuring that the income generated is solely utilized for maintaining and enhancing the library's operations. The fund's primary objective is to contribute to the library's general support, ensuring its continued growth and service to the community.
In practice, the Weston Memorial Fund receives contributions towards its charitable purpose of supporting the local library. Additionally, it generates investment income, a portion of which is then transferred to the library for its maintenance and upkeep. The fund also covers certain operational expenses, such as office costs, demonstrating its commitment to the library's overall well-being. By managing its assets and income in this way, the Weston Memorial Fund plays a crucial role in sustaining and improving the public library's services and resources for the benefit of its community.
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Impact
October, 2024
The Weston Memorial Fund directly enhances the operations and sustainability of the Sandwich Public Library in Sandwich, MA, through strategic asset management and investment. With contributions totaling $21,980 and investment income reaching $70,069, the Fund plays a crucial role in supporting the library's financial health.
In the most recent period, $49,527 was allocated to the library for general support, underpinning essential services and resources. Additionally, a portion of the funds went toward operational expenses, ensuring that the library can continue to function effectively. By providing stable financial support, the Weston Memorial Fund not only aids in maintaining the library's facilities and services but also ensures that the community has access to educational resources and programs. This impact fosters a well-rounded educational environment for residents and visitors alike.
This information is meant to be a general summary of Weston Memorial Fund. 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 2023.
- Investment Income: $72,828
- Gross Receipts: $157,255
Assets and Liabilities:
- Total Assets: $2,283,351
- Total Liabilities: $0
- Net Assets: $2,283,351
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Organization Details
Founding Year
1906
Principal Officer
Joseph Maruca
NTEE Category
Code: B70 - Education
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