Overview
What is Olympia Tumwater Foundation?
The Olympia Tumwater Foundation, established in 1962 as a gift to the community, is a nonprofit organization situated in Tumwater, Washington. Its primary focus lies in honoring the heritage and fostering the future of Thurston County. The Foundation is renowned for its diverse community projects, including providing student scholarships, preserving historical sites, and maintaining Brewery Park at Tumwater Falls, one of the largest privately owned parks in Washington State. Visitors and schoolchildren flock to the park annually to witness the awe-inspiring salmon migration. Through these initiatives, the Foundation upholds the tradition of philanthropy and civic responsibility initiated by the Schmidt family and Olympia Brewing Company.
Official website here: www.olytumfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Olympia Tumwater Foundation has received a commendable rating of 96%, indicating a strong level of accountability and finance management. This rating is significant as it reflects the foundation's commitment to transparency and effective use of resources, particularly through its perfect scores in various governance and financial metrics. The organization boasts an entirely independent board, which is key for unbiased oversight.
One of the strengths highlighted in the rating is the foundation’s high program expense ratio of 69.83%, meaning a significant portion of its funds goes directly towards its programs, rather than administrative costs. Additionally, the absence of any material diversion of assets and the presence of robust policies for conflict of interest and whistleblowing further enhance the foundation's credibility and operational integrity.
While the rating is overwhelmingly positive, there may be areas for improvement, particularly in engagement with the community or visibility of programs, as these aspects are not detailed in the financial metrics. However, the foundation's solid governance structure and financial health make it a trustworthy option for potential donors looking to support a nonprofit that prioritizes accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Olympia Tumwater Foundation legitimate?
Olympia Tumwater Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olympia Tumwater 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $126,089
Professional Fundraising Fees: $0
Other Salaries and Wages: $169,195
For more financial information, click here
Official website here: www.olytumfoundation.org
What is the mission statement of Olympia Tumwater Foundation?
The Olympia Tumwater Foundation is dedicated to honoring the history and fostering the future of its community in Thurston County. It achieves this by engaging in various civic projects, such as providing scholarships for students, preserving historical sites, and maintaining Brewery Park at Tumwater Falls. The foundation upholds the legacy of philanthropy and responsible citizenship initiated by the Schmidt family and the Olympia Brewing Company, continuing to make substantial contributions to its community.
Official website here: www.olytumfoundation.org
Who is the CEO of Olympia Tumwater Foundation?
John Freedman is the Trustee of Olympia Tumwater Foundation.
Official website here: www.olytumfoundation.org
What is the revenue of Olympia Tumwater Foundation?
Olympia Tumwater Foundation's revenue in 2022 was $616,884.
Official website here: www.olytumfoundation.org
Who are the executives of Olympia Tumwater Foundation and what are their salaries?
The average compensation at Olympia Tumwater Foundation during 2022 was $49,214. There are 6 employees and 4 volunteers at Olympia Tumwater Foundation.
Here are 16 key members and their salaries:
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- Compensation: $126,089
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- Other: $3,618
Official website here: www.olytumfoundation.org
Where can I find the form 990 for Olympia Tumwater Foundation?
Olympia Tumwater Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.olytumfoundation.org
Learn more at the official website: www.olytumfoundation.org
Mission Statement of Olympia Tumwater Foundation
The Olympia Tumwater Foundation is dedicated to upholding the heritage and progress of Thurston County. This commitment is demonstrated through their involvement in various community projects, such as offering scholarships to students, preserving historical sites, and maintaining Brewery Park at Tumwater Falls. By engaging in these initiatives, the Foundation carries on the legacy of philanthropy and responsible citizenship that was established by the Schmidt family and the Olympia Brewing Company.
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Impact
July, 2024
The Olympia Tumwater Foundation's impact is seen through its dedication to honoring the history and future of Thurston County. By supporting community projects such as student scholarships, historic preservation efforts, and the stewardship of Brewery Park at Tumwater Falls, the Foundation continues the tradition of philanthropy and responsible citizenship established by the Schmidt family and the Olympia Brewing Company. Brewery Park at Tumwater Falls, a gift to the South Sound community, serves as a significant cultural and natural landmark, attracting over 250,000 visitors annually. The park's role in preserving history and providing educational opportunities, such as observing the annual salmon migration, contributes to the Foundation's mission of enriching the community through its civic involvement.
This information is meant to be a general summary of Olympia Tumwater 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: $396,324
- Gross Receipts: $3,037,868
Assets and Liabilities:
- Total Assets: $10,839,310
- Total Liabilities: $95,165
- Net Assets: $10,744,145
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Organization Details
Founding Year
1950
Phone
(360) 943-2550Principal Officer
John Freedman
Main Address
PO Box 4098, Tumwater, WA, 98501
Website
www.olytumfoundation.orgNTEE Category
Code: A80 - Arts
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