Moles Charitable Fund Inc.

Overview

Moles Charitable Fund Inc. is a nonprofit organization registered as a 501(c)(3) entity, with an Employer Identification Number (EIN) of 83-0549296. It was established to further the vision and purposes of The Moles, focusing on charitable activities that support education in the heavy construction industry.

Mission

The mission of Moles Charitable Fund Inc. is to collect, manage, and administer a charitable fund aimed at supporting and fostering the broader vision and objectives of The Moles. This includes maintaining and funding scholarships, internships, and educational outreach programs. The fund also extends its support to other charitable initiatives aligned with its vision.

Activities

Moles Charitable Fund Inc. primarily provides scholarships to academically qualified junior-year students at participating colleges and universities. The selection process is conducted by the respective engineering school deans, without any requirement for the students to have connections to Moles members or associated companies.

Over the past decade, The Moles have distributed over $2 million in scholarships through Moles Charitable Fund Inc. and other programs. Recent efforts have focused on increasing the total amount of annual scholarships, expanding the number of participating schools, and implementing new educational initiatives to promote the heavy construction industry.

Financial Management

The organization is financially managed by a prominent financial services firm, which provides support for annual or structured giving programs. This allows donors to leverage corporate matching programs to amplify their contributions. Moles Charitable Fund Inc. reports its financial activities through annual Form 990 filings with the IRS, ensuring transparency in its operations.

Governance and Ratings

As of the latest reports, Moles Charitable Fund Inc. has received a rating from Charity Navigator that indicates room for improvement in its governance and transparency practices. While the organization scores well on financial practices and board structure, it lacks certain governance policies, such as whistleblower and document retention policies. Despite these challenges, Moles Charitable Fund Inc. remains a legitimate and tax-deductible nonprofit organization.

Impact

The impact of Moles Charitable Fund Inc. lies in its commitment to empowering future leaders through educational support. By providing financial aid and promoting educational initiatives, the organization contributes to the advancement of education and career development in the heavy construction industry.

Conclusion

Moles Charitable Fund Inc. plays a significant role in fostering educational opportunities in the heavy construction sector while aligning with the broader objectives of The Moles. Despite areas for improvement in governance, the organization continues to work towards enhancing its charitable initiatives and securing long-term continuity for its scholarship programs.