Overview
What is E Virginia Scripps Memorial Trust?
The E Virginia Scripps Memorial Trust is a nonprofit organization that manages its assets for the purpose of generating income. According to the trust document, the income is allocated to specific organizations. The primary activity of this trust involves investing its assets to generate a steady income stream for the designated beneficiaries, in this case, the mentioned organizations. The trust's activities, as per the information provided, are focused on financial management and income distribution to the named organizations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Star Rating)
The E Virginia Scripps Memorial Trust received a Two-Star rating from Charity Navigator, primarily due to its Accountability & Finance score of 60%. This rating indicates that while the organization performs adequately in some areas, there are significant concerns regarding its governance practices, particularly related to board independence and transparency.
One of the notable strengths of the trust is its high program expense ratio of 78.14%, suggesting that a substantial portion of its expenditures is directed towards its programs rather than administrative costs. Additionally, the organization has a solid score in material diversion of assets, indicating no issues in this area. However, the lack of independent board members and missing policies on whistleblower protection and document retention raise concerns about governance and accountability.
The trust's website is not listed on its tax form, and it fails to post critical documents such as its tax form and conflict of interest policies on its website. These omissions further contribute to the low score in Accountability & Finance and suggest the need for improved transparency and governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is E Virginia Scripps Memorial Trust legitimate?
E Virginia Scripps Memorial Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. E Virginia Scripps Memorial Trust 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: $20,575
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of E Virginia Scripps Memorial Trust?
The E Virginia Scripps Memorial Trust's primary objective is to generate income by investing its assets. This income is then distributed to the organizations specified in the trust document. The trust's activities, as per its mission, are focused on financially supporting these named organizations. While the trust itself does not directly provide services or conduct research, its financial contributions play a significant role in supporting the operations of these organizations. Among its programs, the City of Rushville is one of the beneficiaries of the trust's income.
Who is the CEO of E Virginia Scripps Memorial Trust?
Fifth Third Bank N A is the Trustee of E Virginia Scripps Memorial Trust.
What is the revenue of E Virginia Scripps Memorial Trust?
E Virginia Scripps Memorial Trust's revenue in 2022 was $54,832.
Who are the executives of E Virginia Scripps Memorial Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $20,575
- Related: $0
- Other: $0
Where can I find the form 990 for E Virginia Scripps Memorial Trust?
E Virginia Scripps Memorial Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of E Virginia Scripps Memorial Trust
The E Virginia Scripps Memorial Trust is an organization that manages its assets to generate income. This income is then distributed to the organizations specified in the trust document. The trust's mission is centered around financial management, with the primary goal of providing a steady income stream to the named beneficiaries. The activities of the trust are focused on investing its assets to achieve this objective. While the trust itself does not engage in direct programs or services, its mission plays a crucial role in supporting the organizations that it financially sustains.
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Impact
October, 2024
E Virginia Scripps Memorial Trust has a significant impact by strategically investing its assets to generate income for designated organizations. This income supports various initiatives, enhancing the capacity of entities such as the City of Rushville. By effectively managing its investments, the Trust contributes to the sustainability and growth of these organizations, fostering community development and philanthropy. Its financial support aids in the execution of programs and services that benefit the broader community, ensuring that the intended charitable goals are met and that vital resources are allocated where they are needed most.
This information is meant to be a general summary of E Virginia Scripps Memorial Trust. 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: $54,832
- Gross Receipts: $888,819
Assets and Liabilities:
- Total Assets: $1,263,522
- Total Liabilities: $0
- Net Assets: $1,263,522
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Organization Details
Founding Year
1993
Phone
(513) 534-5310Principal Officer
Fifth Third Bank N A
Main Address
PO BOX 630858, CINCINNATI, OH, 452630858
NTEE Category
Code: T11 - Philanthropy
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