Overview
What is Community Foundation Of The Verdugos?
The Community Foundation of the Verdugos is a nonprofit organization situated in Glendale, California, with a postal address of 111 EAST BROADWAY 200, CA 91205. Its primary mission involves distributing grants to qualified charitable institutions, as per the wishes and advice of donors. These grants are sourced from both passthrough funds and endowment funds, ensuring that the recipient charitable institutions are in good standing and the grants are designated for a charitable purpose or need. The foundation ensures that the grants do not serve as event ticket benefits or represent any legally binding pledge or financial obligation for the donors or related parties. The Community Foundation of the Verdugos boasts a lean workforce of just two employees, who meticulously manage and record transactions and activities from different funds each month, employing fund accounting best practices for individual fund tracking. By combining donor contributions with the efforts of charitable organizations, this nonprofit enhances the reliability and impact of nonprofits, establishing endowed funds that support self-reliant organizations through grants.
Official website here: www.communityfoundationoftheverdugos.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Community Foundation of the Verdugos has received a commendable Four-Star rating from Charity Navigator, reflecting its high accountability and financial health. This rating is significant as it indicates the foundation's commitment to transparency and responsible management of its resources, which is crucial for fostering trust among donors and stakeholders.
The organization excels in various metrics, including board independence, financial oversight, and effective use of funds, with 75.39% of its expenses directed towards programs. Additionally, it has demonstrated impressive financial stability, with a low liability-to-assets ratio and a robust working capital position, indicating its ability to sustain operations long-term.
While the overall ratings are very strong, it is vital for potential donors to consider the specific services and impact areas of the foundation to ensure alignment with their philanthropic goals. Overall, the Community Foundation of the Verdugos presents itself as a reliable and well-managed nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Community Foundation Of The Verdugos legitimate?
Community Foundation Of The Verdugos is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Foundation Of The Verdugos 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: $107,560
Professional Fundraising Fees: $0
Other Salaries and Wages: $34,820
For more financial information, click here
Official website here: www.communityfoundationoftheverdugos.org
What is the mission statement of Community Foundation Of The Verdugos?
The Community Foundation of the Verdugos aims to enhance the effectiveness and impact of non-profit organizations by establishing endowed funds. These funds provide grants to qualified charitable institutions, following the donors' wishes and guidelines set by the foundation. The organization ensures that the grants are used for charitable purposes or needs, do not provide any benefits to the donors or related parties, and do not represent any legal obligations. The foundation's activities are meticulously managed and recorded using fund accounting best practices, with two staff members dedicating significant time to tracking transactions and activities from different funds each month.
Official website here: www.communityfoundationoftheverdugos.org
Who is the CEO of Community Foundation Of The Verdugos?
Edna Karinski is the Ceo of Community Foundation Of The Verdugos. The CEO's salary of Community Foundation Of The Verdugos is $107,560 and their total compensation is $118,060.
Official website here: www.communityfoundationoftheverdugos.org
What is the revenue of Community Foundation Of The Verdugos?
Community Foundation Of The Verdugos's revenue in 2022 was $2,024,256.
Official website here: www.communityfoundationoftheverdugos.org
Who are the executives of Community Foundation Of The Verdugos and what are their salaries?
The average compensation at Community Foundation Of The Verdugos during 2022 was $71,190. There are 2 employees at Community Foundation Of The Verdugos.
Here are 13 key members and their salaries (Community Foundation Of The Verdugos's CEO's salary is $107,560 and their total compensation is $118,060):
- Compensation: $107,560
- Related: $0
- Other: $10,500
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- Other: $0
Official website here: www.communityfoundationoftheverdugos.org
Where can I find the form 990 for Community Foundation Of The Verdugos?
Community Foundation Of The Verdugos's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.communityfoundationoftheverdugos.org
Learn more at the official website: www.communityfoundationoftheverdugos.org
Mission Statement of Community Foundation Of The Verdugos
The Community Foundation of the Verdugos is an organization that plays a significant role in supporting non-profit organizations by increasing their reliability and impact. They achieve this goal by establishing endowed funds that provide grants to qualified charitable institutions, in accordance with the wishes and advice of their donors. The foundation's mission is to combine the power of donors and charitable organizations, thereby enhancing the effectiveness of non-profits.
The Community Foundation of the Verdugos operates with a focus on self-reliant organizations, providing grants from both donor-restricted pass-through funds and endowment funds. Each grant opportunity must adhere to guidelines set by the foundation, ensuring that the recipient charitable institution is in good standing and that the grant is intended for a charitable purpose or need. Moreover, the foundation ensures that the grant does not serve as a benefit to the donors, advisors, or any related parties, and it does not represent a legally binding pledge or financial obligation.
The foundation meticulously tracks each fund using fund accounting best practices, with two staff members dedicating considerable time to managing and recording transactions and activities from different funds each month. In essence, the Community Foundation of the Verdugos serves as a bridge between generous donors and impactful non-profit organizations, ensuring that grants are efficiently distributed to support charitable goals and bolster the sustainability of these organizations.
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Impact
July, 2024
The Community Foundation Of The Verdugos's impact lies in its ability to bring together donors and charitable organizations to establish endowed funds that support self-reliant organizations through impactful grants. These grants are provided to qualified charitable institutions in accordance with the wishes and advice of donors. By ensuring that these grants are used for charitable purposes and do not provide any benefit to the donors or related parties, the foundation plays a crucial role in increasing the reliability and impact of nonprofits in the community. Through its philanthropic efforts, the foundation contributes to building a stronger and more sustainable charitable sector in Glendale, CA, and beyond.
This information is meant to be a general summary of Community Foundation Of The Verdugos. 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: $251,374
- Gross Receipts: $4,963,806
Assets and Liabilities:
- Total Assets: $12,922,942
- Total Liabilities: $847,680
- Net Assets: $12,075,262
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Organization Details
Founding Year
1956
Phone
(818) 241-8040Principal Officer
Edna Karinski
Main Address
111 EAST BROADWAY 200, GLENDALE, CA, 91205
NTEE Category
Code: T31 - Philanthropy
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