Medical Loan Closet Of Wichita Inc

Charity Navigator Rating: 67%, Two-Star out of Four Star rating. The Medical Loan Closet of Wichita Inc has received a Two-Star rating primarily based on its Accountability & Finance metrics. While it shows strong financial management, particularly with a program expense ratio of 99.64%, it struggles with governance issues, as indicated by the complete absence of independent board members and several missing policies.

The lack of independent board members (0 out of 8 points) points to potential governance weaknesses, impacting the organization’s overall accountability. Additionally, critical policies such as conflict of interest, whistleblower, and document retention are missing, which may raise concerns about transparency and ethical practices.

Despite these limitations, the organization has demonstrated solid financial practices, with no material diversion of assets reported and a favorable liabilities to assets ratio of 0.05%. However, the absence of a website listed on tax forms and failure to post required documents suggest areas for improvement in public accountability and communication with stakeholders.

This AI summary has been generated from information found on Charity Navigator.

Medical Loan Closet Of Wichita Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Loan Closet Of Wichita 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