Overview
What is The Philatelic Foundation?
The Philatelic Foundation is a nonprofit entity based in New York, specifically at 353 Lexington Avenue Suite 804, NY 10016. Their primary mission is to promote and advance the field of philately, which encompasses the study and collection of stamps and covers. They achieve this objective through various means, such as publications, their website, and DVDs. Additionally, they offer expert advice on stamps and covers, providing a valuable service to collectors and enthusiasts. The organization is staffed by a team of five dedicated individuals.
Official website here: www.philatelicfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
The Philatelic Foundation has earned an 88% rating, primarily based on its accountability and finance practices. The foundation stands out with a fully independent board and a strong financial management structure, with a significant portion of its expenses directed toward its programs, achieving a program expense ratio of 72.93%. This reflects a commitment to utilizing funds effectively for its mission.
However, there are some areas where the foundation could improve. Notably, it lacks a whistleblower policy and a document retention and destruction policy, which could enhance its governance practices. Despite these gaps, the organization demonstrates strong transparency with its financial statements and has successfully avoided any material diversion of assets, indicating sound operational integrity.
Overall, while The Philatelic Foundation shows commendable strengths in its governance and financial accountability, addressing the identified shortcomings could further bolster its credibility and effectiveness as a nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is The Philatelic Foundation legitimate?
The Philatelic Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Philatelic 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: $105,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $156,360
For more financial information, click here
Official website here: www.philatelicfoundation.org
What is the mission statement of The Philatelic Foundation?
The Philatelic Foundation's mission is focused on promoting and advancing philately in its various aspects. They achieve this through various means such as publications, their website, and DVDs. Furthermore, they offer expert advice on stamps and covers. Additionally, the organization has an expert committee that provides the service of authenticating stamps and covers. In essence, their mission is to support and contribute to the growth and understanding of philately.
Official website here: www.philatelicfoundation.org
What is the revenue of The Philatelic Foundation?
The Philatelic Foundation's revenue in 2023 was $672,367.
Official website here: www.philatelicfoundation.org
Who are the executives of The Philatelic Foundation and what are their salaries?
The average compensation at The Philatelic Foundation during 2023 was $52,272. There are 5 employees and 13 volunteers at The Philatelic Foundation.
Here are 14 key members and their salaries:
- Compensation: $105,000
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.philatelicfoundation.org
Where can I find the form 990 for The Philatelic Foundation?
The Philatelic Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.philatelicfoundation.org
Learn more at the official website: www.philatelicfoundation.org
Mission Statement of The Philatelic Foundation
The Philatelic Foundation, a renowned organization, is committed to fostering and promoting philately in its various aspects. They achieve this goal through a multifaceted approach that includes publishing informative materials, maintaining an informative website, and producing educational DVDs. Moreover, the foundation offers expert advice on stamps and covers, providing valuable insights to collectors and enthusiasts alike. By offering these services, The Philatelic Foundation aims to advance the hobby of philately and contribute to its growth and development in all its branches.
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Impact
July, 2024
The Philatelic Foundation provides a crucial service in the world of stamp collecting by offering expert advice and authenticating stamps and covers. Stamp collectors rely on the Foundation's expert committee to ensure the credibility and value of their collections. By promoting philately through publications, a website, and other mediums, The Philatelic Foundation has a significant impact on advancing the hobby and preserving the integrity of stamp collecting.
This information is meant to be a general summary of The Philatelic 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 2023.
- Investment Income: $70,045
- Program Service Revenue: $453,524
- Gross Receipts: $947,528
Assets and Liabilities:
- Total Assets: $4,064,052
- Total Liabilities: $323,458
- Net Assets: $3,740,594
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEALER FEES
Revenue
$6,000
EXPERT COMMITTEE FEES
Revenue
$447,524
Organization Details
Founding Year
1945
Principal Officer
Larry Lyons
Website
www.philatelicfoundation.orgNTEE Category
Code: A03 - Arts
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