Overview
What is Bonfare Markets Charitable Foundation?
Bonfare Markets Charitable Foundation is a nonprofit organization based in Milpitas, California. Their primary mission is to aid the general public by collecting charitable donations. They accomplish this through annual golf tournaments, encouraging participants to contribute to their cause. The funds raised during these events are not only used to support their own organization but also extended to assist needy organizations. By participating in these events, Bonfare Markets Charitable Foundation contributes to the betterment of the community at large.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Overall score: 63%, earning a Two-Star out of Four Star rating.
The Bonfare Markets Charitable Foundation has received a Two-Star rating from Charity Navigator, indicating that it has a "Needs Improvement" status. Its overall score of 63% reflects significant strengths in areas such as having a majority independent board and a favorable liabilities to assets ratio, which are crucial for financial stability. However, the foundation falls short in critical governance practices, such as board size and the establishment of essential policies regarding conflicts of interest and whistleblower protections.
The foundation demonstrates commendable program expense ratios, ensuring that a substantial portion of its funds is directed toward its charitable programs. However, the lack of transparency is a notable concern, as it did not list its website on its tax form or post its tax form on its website. Additionally, it failed to implement key governance policies, which raises questions regarding its operational integrity and accountability to stakeholders.
Overall, while Bonfare Markets Charitable Foundation shows promise through its financial ratios and independent board, there are significant gaps in its governance and transparency practices that need to be addressed for it to enhance its accountability and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Bonfare Markets Charitable Foundation legitimate?
Bonfare Markets Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bonfare Markets Charitable 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Bonfare Markets Charitable Foundation?
The Bonfare Markets Charitable Foundation's mission is centered around aiding the general public. They achieve this by organizing annual charity golf tournaments, soliciting donations as a means to provide assistance. The primary objective of these events is to raise funds for their organization, while also making contributions to various needy organizations. This philanthropic endeavor aims to support and uplift the broader community.
Who is the CEO of Bonfare Markets Charitable Foundation?
Unavailable
What is the revenue of Bonfare Markets Charitable Foundation?
Bonfare Markets Charitable Foundation's revenue in 2022 was $463,974.
Who are the executives of Bonfare Markets Charitable Foundation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bonfare Markets Charitable Foundation?
Bonfare Markets Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bonfare Markets Charitable Foundation
Bonfare Markets Charitable Foundation is a non-profit organization committed to assisting the general public. Their mission is to provide charitable donations and support to those in need. To accomplish this, Bonfare Markets Charitable Foundation organizes an annual golf tournament and fundraiser. During this event, they solicit donations for their own cause as well as contribute to various charitable organizations. By conducting this annual event, Bonfare Markets Charitable Foundation aims to make a positive impact on the lives of numerous individuals within the community.
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Impact
July, 2024
Bonfare Markets Charitable Foundation has had a positive impact by aiding general members of the public through charitable donations. The organization hosts an annual golf tournament as a fundraiser to support their mission of providing contributions to needy organizations and individuals. Their efforts in raising funds and distributing charitable donations help make a difference in the lives of those in need.
This information is meant to be a general summary of Bonfare Markets Charitable 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.
- Gross Receipts: $463,974
Assets and Liabilities:
- Total Assets: $398,166
- Total Liabilities: $0
- Net Assets: $398,166
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Organization Details
Founding Year
2003
Main Address
691 SOUTH MILPITAS BLVD SUITE 208, MILPITAS, CA, 95035
NTEE Category
Code: T30 - Philanthropy
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