Overview
What is Salem Art Association Endowment Foundation?
The Salem Art Association Endowment Foundation, situated in Salem, Oregon, serves as a supporting entity for the Salem Art Association. Established with a charitable, scientific, and educational mission, the foundation's primary goal is to promote and advance the Salem Art Association's objectives. It receives and manages funds for various initiatives, including lectures, seminars, conferences, research, and educational programs. The foundation's activities aim to benefit both the Salem Art Association and the general public. Its objective is to preserve, protect, and enhance its assets to foster the arts within the community, ultimately supporting the Salem Art Association.
Official website here: www.salemart.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Star rating)
The Salem Art Association Endowment Foundation has received a commendable rating of 91% from Charity Navigator, indicating a strong performance in accountability and finance. The foundation demonstrates effective governance with a fully independent board of directors, ensuring that there are no conflicts of interest. Additionally, it maintains transparency and adheres to best practices, such as having documented policies for whistleblower protection and document retention.
Financially, the foundation shows a solid commitment to its programs, with a program expense ratio of 65.37%, reflecting that a significant portion of its resources is dedicated to mission-related activities. Furthermore, the organization's liabilities to assets ratio is exceptionally low at 3.38%, which suggests sound financial health and minimal debt relative to its assets.
Despite these strengths, the program expense ratio could be improved to enhance overall financial efficiency. Nevertheless, the foundation's strong governance practices and commitment to transparency position it as a responsible nonprofit organization in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Salem Art Association Endowment Foundation legitimate?
Salem Art Association Endowment Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Salem Art Association Endowment 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.salemart.org
What is the mission statement of Salem Art Association Endowment Foundation?
The mission of the Salem Art Association Endowment Foundation, often referred to as SAAEF, is centered around preserving, protecting, and enhancing its assets. This is done with the primary goal of promoting and advancing the arts within the community. SAAEF achieves this by providing support to the Salem Art Association (SAA), a non-profit organization. The foundation supports various educational activities, including lectures, seminars, conferences, research, and education programs, aimed at benefiting both the Salem Art Association and the general public. Through these initiatives, SAAEF aims to contribute to the enjoyment and enrichment of the arts in the broader community.
Official website here: www.salemart.org
Who is the CEO of Salem Art Association Endowment Foundation?
Matthew Boulay is the President of Salem Art Association Endowment Foundation.
Official website here: www.salemart.org
What is the revenue of Salem Art Association Endowment Foundation?
Salem Art Association Endowment Foundation's revenue in 2022 was $40,728.
Official website here: www.salemart.org
Who are the executives of Salem Art Association Endowment Foundation and what are their salaries?
There 5 volunteers at Salem Art Association Endowment Foundation.
Here are 7 key members and their salaries:
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- Related: $49,366
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Official website here: www.salemart.org
Where can I find the form 990 for Salem Art Association Endowment Foundation?
Salem Art Association Endowment Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.salemart.org
Learn more at the official website: www.salemart.org
Mission Statement of Salem Art Association Endowment Foundation
The Salem Art Association Endowment Foundation's mission is centered around preserving, protecting, and enhancing its assets to promote and advance the arts in their community. This nonprofit organization strives to accomplish this objective by providing support to the Salem Art Association, a 501(c)(3) organization, in accordance with its bylaws. The primary goal of the Salem Art Association Endowment Foundation is to foster the growth and development of the arts through various educational programs, lectures, seminars, conferences, and research. By doing so, the foundation aims to bring enjoyment and benefits to both the Salem Art Association and the general public. The Salem Art Association Endowment Foundation's mission is committed to empowering the arts in their community, ensuring a rich cultural landscape for generations to come.
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Impact
October, 2024
The Salem Art Association Endowment Foundation significantly impacts the community by enhancing cultural engagement and education through the arts. By providing essential funding for a variety of initiatives—including lectures, seminars, and educational programs—the foundation fosters a deeper appreciation for the arts among the public and supports the ongoing development of the Salem Art Association.
Through its mission to preserve and enhance its assets, the foundation plays a pivotal role in sustaining the arts in Salem. This commitment not only enriches the local cultural landscape but also encourages community involvement and participation in artistic endeavors. By investing in the arts, the foundation empowers artists, educators, and the general public, ultimately stimulating creativity and collaboration within the community. The foundation's efforts ensure that the arts continue to thrive in Salem, making a lasting impact on both individuals and the community as a whole.
This information is meant to be a general summary of Salem Art Association Endowment 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: $31,028
- Gross Receipts: $270,428
Assets and Liabilities:
- Total Assets: $842,356
- Total Liabilities: $28,500
- Net Assets: $813,856
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Organization Details
Founding Year
1977
Phone
(503) 581-2228Principal Officer
Matthew Boulay
Main Address
600 MISSION ST SE, SALEM, OR, 97302
Website
www.salemart.orgNTEE Category
Code: A11 - Arts
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