Overview
What is Coleman Foundation?
The Coleman Foundation is a supporting organization, situated in San Diego, California, with a postal address at 8515 Costa Verde Boulevard 1404. This nonprofit organization is dedicated to making a significant impact in various sectors. Primarily, it focuses on providing opportunities for post-secondary education or vocational training to individuals. Moreover, the foundation is passionate about promoting sports and related recreational activities for children and adults. Furthermore, Coleman Foundation shows strong support for the performing and visual arts. Essentially, the organization functions as a benefactor to other nonprofit organizations, contributing to their causes and missions. It currently employs a team of two individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 39% (Zero-Star out of Four Star rating)
The Coleman Foundation has received a low score of 39%, which reflects significant concerns regarding its accountability and financial practices. The foundation's lack of independent board members, scoring 0% in that category, raises questions about governance and oversight. While it does have an Audit and Oversight Committee in place, the overall metrics suggest a need for greater transparency and independence in its operations.
On a positive note, the foundation maintains several key policies, including those for conflict of interest, whistleblowing, and document retention, all of which received full marks. This indicates that the organization has some measures to promote ethical practices and accountability. However, the absence of critical documentation on its website, such as the Tax Form and board meeting minutes, detracts from its overall credibility and accessibility for potential donors and stakeholders.
The financial ratios related to program expenses and liabilities show concerning trends, with a program expense ratio of only 5.52%, indicating that a minimal portion of the funds raised goes toward its programs. This reinforces the need for improvement in financial stewardship, as a low allocation to program expenses could suggest inefficiencies or inadequate focus on the foundation's mission. Overall, while there are some strengths, the Coleman Foundation faces significant challenges that may hinder its effectiveness and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Coleman Foundation legitimate?
Coleman Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coleman 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: $421,607
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Coleman Foundation?
The Coleman Foundation serves as a supporting organization, primarily benefiting nonprofit entities. Its mission is centered around providing three main areas of assistance: post-secondary education or vocational training for individuals, recreational activities in the realm of sports for both children and adults, and opportunities in the performing or visual arts. The foundation aims to contribute to these sectors, ultimately empowering and enriching various communities.
Who is the CEO of Coleman Foundation?
Pritpal Panesar is the President of Coleman Foundation.
What is the revenue of Coleman Foundation?
Coleman Foundation's revenue in 2021 was $1,187,885.
Who are the executives of Coleman Foundation and what are their salaries?
The average compensation at Coleman Foundation during 2021 was $210,804. There are 2 employees at Coleman Foundation.
Here are 5 key members and their salaries:
- Compensation: $336,500
- Related: $0
- Other: $0
- Compensation: $25,300
- Related: $0
- Other: $59,807
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Coleman Foundation?
Coleman Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Coleman Foundation
The Coleman Foundation is dedicated to serving as a supporting organization, exclusively benefiting various nonprofit organizations. Its mission is centered around providing three primary areas of aid: firstly, post-secondary education or vocational training for individuals, secondly, sports and associated recreational activities for both children and adults, and thirdly, performing or visual arts. This mission is geared towards contributing to the broader community by fostering personal growth, skill development, and cultural engagement through these various initiatives.
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Impact
July, 2024
Coleman Foundation's impact can be seen through its support in providing post-secondary education and vocational training to individuals, offering sports and recreational activities for children and adults, as well as promoting performing or visual arts. Through these initiatives, the foundation contributes to the enrichment and development of individuals in the community, helping to create opportunities for growth and self-improvement.
This information is meant to be a general summary of Coleman 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 2021.
- Investment Income: $1,187,885
- Gross Receipts: $1,187,885
Assets and Liabilities:
- Total Assets: $9,516,558
- Total Liabilities: $1,485,327
- Net Assets: $8,031,231
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Organization Details
Founding Year
1963
Phone
(858) 499-0202Principal Officer
Pritpal Panesar
Main Address
8515 Costa Verde Boulevard 1404, San Diego, CA, 92122
NTEE Category
Code: B20 - Education
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