Overview
What is Farr Foundation Inc?
Farr Foundation Inc is a nonprofit organization that extends financial aid to James F. Farr Academy Inc., a 501(c)(3) entity, and its associated entities. These organizations offer educational and residential services to children and young adults who struggle with emotional, behavioral, and learning disabilities. The Farr Foundation's mission is to support these institutions, ensuring they can continue providing vital resources and care to their beneficiaries. The Foundation's contributions help enhance the academic and living experiences of these children and young adults, enabling them to overcome their challenges and lead fulfilling lives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Stars
The Farr Foundation Inc has received a low rating of 54% from Charity Navigator, which translates to a One-Star designation. This score is primarily influenced by its Accountability & Finance metrics, where the foundation scored well in several governance areas, such as having a majority of independent board members and effective conflict of interest and whistleblower policies.
However, the foundation struggles significantly in its financial performance, particularly in program expenses, where only 8.18% of its expenses are directed towards programs. This low percentage raises concerns about the organization's overall impact and efficiency in utilizing its funds for its intended charitable purposes. Additionally, the foundation holds no liabilities, which is a positive sign, but the minimal program spending indicates room for improvement in delivering its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Farr Foundation Inc legitimate?
Farr Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Farr Foundation Inc 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
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What is the mission statement of Farr Foundation Inc?
The Farr Foundation Inc. supports an organization named James F. Farr Academy, which is a 501(C)(3) entity. This academy provides educational and residential services to children and young adults dealing with emotional, behavioral, and learning disabilities. The primary mission of the Farr Foundation is to financially aid this academy and its affiliates in delivering these essential services. The goal is to help these individuals overcome their challenges and lead fulfilling lives. The foundation's contributions contribute to the academy's efforts in offering a conducive learning environment and long-term care for these children and young adults.
Who is the CEO of Farr Foundation Inc?
Michael Culhane is the Trustee of Farr Foundation Inc.
What is the revenue of Farr Foundation Inc?
Farr Foundation Inc's revenue in 2022 was $34,557.
Who are the executives of Farr Foundation Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Farr Foundation Inc?
Farr Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Farr Foundation Inc
Farr Foundation Inc, a philanthropic entity, is committed to supporting James F. Farr Academy, a 501(c)(3) organization. This nonprofit organization and its affiliates offer educational and residential services to children and young adults who struggle with emotional, behavioral, and learning disabilities. By providing financial backing, Farr Foundation Inc plays a crucial role in enabling James F. Farr Academy to fulfill its mission of offering a nurturing environment and tailored programs to help these individuals overcome their challenges and reach their full potential. The foundation's mission is deeply rooted in the belief that every child deserves an opportunity to thrive, regardless of their unique abilities and needs. By supporting James F. Farr Academy, Farr Foundation Inc is contributing to a more inclusive and supportive society, where every individual has the chance to succeed.
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Impact
August, 2024
Farr Foundation Inc's impact lies in providing vital financial support to James F. Farr Academy, a 501(c)(3) organization offering essential educational and residential services to children and young adults struggling with emotional, behavioral, and learning disabilities. By bolstering the operations of this institution and its affiliates, Farr Foundation Inc plays a crucial role in improving the lives of individuals who often face significant challenges in accessing appropriate care and education. Through its mission of providing financial assistance, Farr Foundation Inc contributes directly to the empowerment and development of these vulnerable populations, offering them opportunities for growth, support, and success.
This information is meant to be a general summary of Farr Foundation Inc. 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: $28,557
- Gross Receipts: $84,987
Assets and Liabilities:
- Total Assets: $2,078,336
- Total Liabilities: $0
- Net Assets: $2,078,336
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Organization Details
Founding Year
1997
Phone
(617) 497-2620Principal Officer
Michael Culhane
Main Address
71 PEARL STREET, CAMBRIDGE, MA, 02139
NTEE Category
Code: Z99 - Unknown
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