Overview
What is Flanagan Park District Trust 130 C/O Flanagan State Bank?
Flanagan Park District Trust 130, managed by Flanagan State Bank, is a nonprofit entity primarily focused on supporting the maintenance of a community swimming pool in Flanagan, Illinois. This trust receives income from a property donation, which it then distributes towards this purpose. The income generated by the trust serves as a supplement to the park district's revenues, ensuring the pool's continued operation. The trust's mission aligns with the local park district, contributing to the well-being and recreational activities of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (53%)
Flanagan Park District Trust has received a score of 53%, resulting in a One-Star rating from Charity Navigator. This indicates significant concerns regarding its accountability and financial practices. The charity lacks independent board members, which raises questions about governance and oversight. However, it scores well in terms of asset management, showing no material diversion of assets.
Despite high program expense ratios, with 86.83% of its spending directed toward programs, the organization has several critical policy deficiencies. Missing policies include conflict of interest, whistleblower, and document retention; these omissions are vital for transparency and ethical governance. Furthermore, the charity's website is not listed on its tax form, which is a significant oversight in terms of accessibility and communication with stakeholders.
Overall, while Flanagan Park District Trust demonstrates a commitment to programmatic spending, the lack of independent oversight and missing policies highlight areas that need immediate improvement to boost accountability and trust among donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Flanagan Park District Trust 130 C/O Flanagan State Bank legitimate?
Flanagan Park District Trust #130 C/O Flanagan State Bank is a legitimate nonprofit organization registered as a 501(c)(3) entity. Flanagan Park District Trust #130 C/O Flanagan State Bank 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 Flanagan Park District Trust 130 C/O Flanagan State Bank?
The Flanagan Park District Trust 130 C/O Flanagan State Bank's mission is centered around investing funds received from donors and distributing the income to support a public swimming pool operated by the Flanagan Park District. Their primary objective is to utilize these funds to enhance the maintenance and operation of the community swimming pool. Previously, income from the trust was utilized to supplement the local park district's revenues in maintaining the swimming pool.
Who is the CEO of Flanagan Park District Trust 130 C/O Flanagan State Bank?
Kent Schwerin is the Trustee of Flanagan Park District Trust #130 C/O Flanagan State Bank.
What is the revenue of Flanagan Park District Trust 130 C/O Flanagan State Bank?
Flanagan Park District Trust 130 C/O Flanagan State Bank's revenue in 2022 was $95,957.
Who are the executives of Flanagan Park District Trust 130 C/O Flanagan State Bank and what are their salaries?
There is 1 key member and their salary:
- Compensation: $22,905
- Related: $0
- Other: $0
Where can I find the form 990 for Flanagan Park District Trust 130 C/O Flanagan State Bank?
Flanagan Park District Trust 130 C/O Flanagan State Bank's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Flanagan Park District Trust 130 C/O Flanagan State Bank
Flanagan Park District Trust 130 C/O Flanagan State Bank is a nonprofit entity with a specific mission. It primarily functions by investing property that has been donated to it. The main objective of this investment is to generate income, which is then utilized to support a public swimming pool operated by the Flanagan Park District, a government body. In simpler terms, the trust's income is directed towards maintaining the community swimming pool in Flanagan, Illinois.
To elaborate, the income generated from the trust has been instrumental in supporting the local park district's maintenance of the swimming pool. This financial assistance has helped to supplement the park district's revenues, ensuring the pool remains accessible to the community. The trust's mission is a testament to its commitment to contributing to the community's recreational facilities, specifically the swimming pool, thereby enriching the lives of its residents.
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Impact
October, 2024
Flanagan Park District Trust 130 C/O Flanagan State Bank plays a vital role in enhancing community recreational opportunities through its stewardship of trust funds. The income generated from the investments is crucial in supporting the maintenance and operation of the public swimming pool managed by the Flanagan Park District. This facility not only provides residents with a space for leisure and exercise but also fosters community engagement and social interaction. By supplementing the park district's revenues, the trust ensures that the swimming pool remains accessible and well-maintained, contributing to the overall well-being and quality of life for the residents of Flanagan, Illinois. This impact extends to promoting physical health, encouraging outdoor activities, and enhancing the attractiveness of the community as a whole.
This information is meant to be a general summary of Flanagan Park District Trust 130 C/O Flanagan State Bank. 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: $95,957
- Gross Receipts: $95,957
Assets and Liabilities:
- Total Assets: $3,565,481
- Total Liabilities: $0
- Net Assets: $3,565,481
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Organization Details
Founding Year
1982
Phone
(815) 796-2264Principal Officer
Kent Schwerin
Main Address
PO BOX 368, FLANAGAN, IL, 61740
NTEE Category
Code: S20 - Community improvement
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