Overview
What is Lighthouse Financial Foundation?
Lighthouse Financial Foundation is a nonprofit organization situated in Vancouver, Washington. Their primary objective is to empower individuals with low to moderate incomes financially, offering education and counseling services. This encompasses understanding credit reports, credit restoration, and budgeting. The foundation's mission extends beyond this, aiming to inspire financial well-being within the community. They also support affordable housing initiatives for other qualified charities, working to enhance the financial stability of their community members.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
Lighthouse Financial Foundation has received a Two-Star rating from Charity Navigator, indicating moderate performance in accountability and finance. The organization has shown strong governance, with 100% of its board members being independent, and it maintains a low liabilities to assets ratio of 8.02%. Additionally, the foundation demonstrates transparency by documenting board meeting minutes, which contributes positively to its accountability score.
One of the standout strengths of this nonprofit is its program expense ratio, which is an impressive 96.73%. This suggests that a significant portion of its funds is directed towards its programs rather than administrative costs, aligning with good practices for nonprofits. Such focus on programmatic spending reflects a commitment to fulfilling its mission effectively.
However, the overall score of 67% suggests there may be areas for improvement in the foundation's operations. While the organization has strengths in governance and expense allocation, the moderate rating may indicate potential concerns or limitations in other areas of financial performance or transparency that warrant closer inspection.
This AI summary has been generated from information found on Charity Navigator.
Is Lighthouse Financial Foundation legitimate?
Lighthouse Financial Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lighthouse Financial Foundation 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.
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What is the mission statement of Lighthouse Financial Foundation?
The Lighthouse Financial Foundation's mission is focused on inspiring and empowering individuals within their community to financially thrive. They achieve this by providing financial education, counseling, and credit restoration services. Furthermore, they offer support for affordable housing to other eligible charities. This organization's mission extends to providing financial education to low and moderate income individuals, helping them understand credit reports, credit restoration, and budgeting.
Who is the CEO of Lighthouse Financial Foundation?
Steven Bernhoft is the Treasurer And Board Member of Lighthouse Financial Foundation.
What is the revenue of Lighthouse Financial Foundation?
Lighthouse Financial Foundation's revenue in 2022 was $1,034,740.
Who are the executives of Lighthouse Financial Foundation and what are their salaries?
There 12 volunteers at Lighthouse Financial Foundation.
Here are 10 key members and their salaries:
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Where can I find the form 990 for Lighthouse Financial Foundation?
Lighthouse Financial Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lighthouse Financial Foundation
Lighthouse Financial Foundation, a nonprofit organization, is committed to inspiring and enabling financial well-being within its community. Their mission is to provide financial education and counseling, credit restoration, and support for affordable housing to other qualified charities. The foundation aims to empower low and moderate-income individuals by helping them understand credit reports, engage in credit restoration processes, and establish effective budgeting strategies. By offering these services, Lighthouse Financial Foundation seeks to enhance the financial stability of its community, enabling everyone to thrive financially.
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Impact
July, 2024
Lighthouse Financial Foundation's impact can be seen in its efforts to inspire and enable individuals in the community to thrive financially. Through providing financial education and counseling services, credit restoration assistance, and support for affordable housing initiatives, the foundation is making a tangible difference in the lives of low and moderate-income individuals. By focusing on areas such as understanding credit reports, credit restoration, and budgeting, Lighthouse Financial Foundation is empowering individuals to take control of their financial futures and pursue economic stability.
This information is meant to be a general summary of Lighthouse Financial Foundation. 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: -$115
- Gross Receipts: $1,050,853
Assets and Liabilities:
- Total Assets: $1,003,872
- Total Liabilities: $80,659
- Net Assets: $923,213
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Organization Details
Founding Year
2018
Phone
(360) 601-6168Principal Officer
Steven Bernhoft
Main Address
PO BOX 1829, VANCOUVER, WA, 98668
NTEE Category
Code: P51 - Human services
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