Overview
What is French Businessmens Association Inc?
The French Businessmens Association Inc, situated in Bristol, Connecticut, is a nonprofit organization committing to offering financial aid to students of French lineage. They annually grant five $2,000 scholarships to deserving individuals, aiming to alleviate college tuition expenses. Their mission revolves around supporting and recognizing these talented students, showcasing their dedication to the French community. The association hosts an annual banquet to honor these scholarship recipients, celebrating their academic achievements and cultural heritage.
Official website here: www.fba-ct.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
The French Businessmens Association Inc has received a low rating of 50% from Charity Navigator, indicating concerns regarding its overall accountability and financial practices. While the organization has a fully independent board and effective policies on conflict of interest and document retention, it lacks critical components such as a whistleblower policy and fails to post its tax form on its website, which negatively impacts transparency.
The organization's financial health is a point of concern as it reported a program expense ratio of only 18.55%. This suggests that a minimal portion of its funds is directed towards its programs, raising questions about the effectiveness and impact of its initiatives. Additionally, the liabilities to assets ratio at 0.00% could indicate potential financial management issues that need addressing.
While the French Businessmens Association Inc demonstrates some strengths in governance, the lack of transparency and low program spending are significant drawbacks. These factors contribute to its low star rating, highlighting the need for improvements in its financial accountability and operational transparency to enhance donor trust and public confidence.
This AI summary has been generated from information found on Charity Navigator.
Is French Businessmens Association Inc legitimate?
French Businessmens Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. French Businessmens Association 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: $43,133
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.fba-ct.org
What is the mission statement of French Businessmens Association Inc?
The French Businessmens Association Inc., as part of its mission, annually awards five scholarships worth $2000 each to deserving students of French lineage. This initiative aiming to assist these students in covering their college tuition fees. The association also organizes a banquet to honor these scholarship recipients. In essence, the French Businessmens Association Inc. seeks to provide financial aid and recognition to talented French descent students pursuing higher education.
Official website here: www.fba-ct.org
What is the revenue of French Businessmens Association Inc?
French Businessmens Association Inc's revenue in 2024 was $146,365.
Official website here: www.fba-ct.org
Who are the executives of French Businessmens Association Inc and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fba-ct.org
Where can I find the form 990 for French Businessmens Association Inc?
French Businessmens Association Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.fba-ct.org
Learn more at the official website: www.fba-ct.org
Mission Statement of French Businessmens Association Inc
The French Businessmens Association Inc, a notable organization, is committed to providing scholarships for deserving students of French descent. Their mission is centered around financially supporting these students by offering five annual scholarships worth $2,000 each. These scholarships aim to alleviate some of the financial burden associated with college tuition costs for these students, thereby enabling them to pursue their education. The Association holds a banquet to honor these scholarship recipients, recognizing their achievements and celebrating their academic journey.
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Impact
August, 2024
The French Businessmens Association Inc's impact lies in its dedication to providing scholarships to deserving students of French descent. Annually, they award five $2,000 scholarships to help defray college tuition costs for these students. Additionally, they host a banquet to honor the recipients of these scholarships, recognizing their achievements and support in pursuing higher education. This initiative supports and encourages students with French lineage to continue their academic pursuits, making a tangible difference in their lives and fostering the growth of future leaders within the community.
This information is meant to be a general summary of French Businessmens Association 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 2024.
- Investment Income: $1
- Gross Receipts: $146,365
Assets and Liabilities:
- Total Assets: $288,423
- Total Liabilities: $0
- Net Assets: $288,423
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Organization Details
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