The Joe And Kay Calvanese Foundation Inc

Charity Navigator Rating: 76% (Three-Star out of Four Star Rating)

The Joe And Kay Calvanese Foundation Inc has received a score of 76%, which translates to a Three-Star rating from Charity Navigator. This rating reflects the foundation's strong accountability and finance practices, primarily based on their fiscal year 2022 performance. The organization boasts a fully independent board of directors, with all nine members being independent, and has no material diversion of assets, indicating a high level of transparency and governance.

The foundation's financial efficiency is commendable, as evidenced by a program expense ratio of 93.63%, meaning that the vast majority of its resources are directed towards its mission. However, there are noted limitations in terms of governance policies, as the foundation lacks a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. These missing elements may raise questions about the organization's internal controls and risk management.

Overall, while the Joe And Kay Calvanese Foundation Inc demonstrates solid financial health and governance through its independent board and high program expense ratio, the absence of critical policies could be areas for future improvement.

This AI summary has been generated from information found on Charity Navigator.

The Joe And Kay Calvanese Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Joe And Kay Calvanese 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.

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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

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Official website here: www.calvanesefoundation.com