Overview
What is Ko Erickson Charity Trust Fund?
The Ko Erickson Charity Trust Fund is a philanthropic organization located in Port Angeles, Washington. Its primary mission is to distribute funds to local nonprofit organizations for their use and benefit. The beneficiaries of these funds include the Salvation Army, the American Red Cross, the Boy Scouts of America, the Girl Scouts of America, and the Port Angeles YMCA. The charity's net profits from its investment activities are allocated to these organizations to support their various initiatives and services in the Port Angeles community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
The Ko Erickson Charity Trust Fund has received a One-Star rating from Charity Navigator, indicating a low performance score of 54%. This rating reflects significant concerns within the organization, particularly in its financial accountability and overall effectiveness in utilizing its resources for its intended charitable purposes.
Despite its low overall score, the organization does demonstrate strengths in governance, with a fully independent board consisting of five members and no indications of material diversion of assets. It has also documented board meeting minutes, which adds to its transparency. However, the charity's program expense ratio is concerning at only 55%, suggesting that a substantial portion of its funds may not be directed towards its programs, which raises questions about its operational efficiency.
Overall, while the Ko Erickson Charity Trust Fund shows some positive governance features, its low score indicates that there are significant areas needing improvement, particularly in ensuring that a greater proportion of its expenses are allocated to its charitable mission. Potential donors may want to consider these factors when evaluating the organization's impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Ko Erickson Charity Trust Fund legitimate?
Ko Erickson Charity Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ko Erickson Charity Trust 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: $12,795
For more financial information, click here
What is the mission statement of Ko Erickson Charity Trust Fund?
The Ko Erickson Charity Trust Fund's mission is centered around utilizing the profits from its investment activities to support and benefit various organizations. Specifically, it focuses on providing aid to five Port Angeles-based organizations: The Salvation Army, The American Red Cross, The Boy Scouts of America, The Girl Scouts of America, and The Port Angles YMCA. This charitable fund demonstrates its commitment to these organizations by making grants available to them.
What is the revenue of Ko Erickson Charity Trust Fund?
Ko Erickson Charity Trust Fund's revenue in 2024 was $419,712.
Who are the executives of Ko Erickson Charity Trust Fund and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $4,800
- Related: $0
- Other: $0
- Compensation: $3,700
- Related: $0
- Other: $0
- Compensation: $2,125
- Related: $0
- Other: $0
- Compensation: $630
- Related: $0
- Other: $0
- Compensation: $770
- Related: $0
- Other: $0
- Compensation: $770
- Related: $0
- Other: $0
Where can I find the form 990 for Ko Erickson Charity Trust Fund?
Ko Erickson Charity Trust Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Ko Erickson Charity Trust Fund
The Ko Erickson Charity Trust Fund, in essence, directs its investment earnings towards supporting various charitable organizations based in Port Angeles. The primary beneficiaries of these funds are esteemed organizations such as The Salvation Army, The American Red Cross, The Boy Scouts of America, The Girl Scouts of America, and The Port Angeles YMCA. By channeling its profits in this manner, the Ko Erickson Charity Trust Fund seeks to contribute positively to these organizations, thereby aiding in their respective missions and operations. The trust's financial assistance has been extended to these nonprofits through grant distributions.
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Impact
October, 2024
The Ko Erickson Charity Trust Fund significantly impacts the Port Angeles community by channeling its net profits from investment activities into local organizations that serve vital social and youth development roles. Grants donated to The Salvation Army, American Red Cross, Boy Scouts of America, Girl Scouts of America, and the Port Angeles YMCA enhance their capabilities to provide essential services, support, and programs for individuals and families in need.
This financial support allows these organizations to tackle community challenges, promote youth engagement, and foster social well-being. For instance, The Salvation Army and American Red Cross provide crucial assistance during emergencies, while the YMCA and scouting organizations contribute to the healthy development of young people through educational and character-building programs. Overall, the trust fund plays a crucial role in strengthening community bonds and uplifting those who may be facing hardships.
This information is meant to be a general summary of Ko Erickson Charity Trust 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 2024.
- Investment Income: $66,600
- Gross Receipts: $995,071
Assets and Liabilities:
- Total Assets: $1,459,859
- Total Liabilities: $0
- Net Assets: $1,459,859
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Organization Details
Founding Year
1953
Principal Officer
Dan Mckeen
NTEE Category
Code: T00 - Philanthropy
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