Overview
What is Friends Of Mexican Development Foundation Inc?
Friends of Mexican Development Foundation Inc is a nonprofit organization situated in New York, specifically at 31 West 34th Street 7th FL 7010. Their primary mission is to offer support to development initiatives in Mexico, spearheaded by local Mexican communities. This encompasses various sectors such as health, humanities, education, tourism, rural development, disaster relief, and sustainable development. The organization has shown a particular interest in funding projects related to environmental exploration, such as the Ox Bel Ha cave system, Sian Ka'an Biosphere Reserve, Kantenah, Kantunulkin, and the Hoyo Negro Paleoindian site. By supporting these projects, Friends of Mexican Development Foundation Inc aims to contribute positively to Mexico's development and growth.
Official website here: www.fomdf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 88% (Three-Star out of Four Star rating)
Friends Of Mexican Development Foundation Inc has earned a commendable Three-Star rating with a score of 88%, primarily based on its accountability and financial practices. The organization's strong performance in this category is highlighted by a perfect score in several key areas, such as having an entirely independent board and an impressive program expense ratio of 96.85%, indicating effective allocation of funds towards its mission.
Despite these strengths, there are areas for improvement noted in the evaluation. The charity is missing important policies, such as a whistleblower policy and document retention and destruction policy, which are essential for maintaining transparency and accountability. Additionally, the absence of the nonprofit's tax form on its website is a minor limitation that could impact public trust.
Overall, while Friends Of Mexican Development Foundation Inc demonstrates a solid commitment to financial accountability, addressing the noted gaps in policy documentation could enhance their governance and accountability framework, fostering greater trust with stakeholders and the public.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Mexican Development Foundation Inc legitimate?
Friends Of Mexican Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Mexican Development 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
For more financial information, click here
Official website here: www.fomdf.org
What is the mission statement of Friends Of Mexican Development Foundation Inc?
The Friends of Mexican Development Foundation Inc's mission is centered around providing support for development programs initiated by Mexicans, specifically in the sectors of health, humanities, education, tourism, rural development, disaster relief, and sustainable development. The organization's primary goal is to aid these initiatives in Mexico. In practice, they offer financial assistance through grants to projects, as exemplified by their support for explorations in the Ox Bel Ha cave system, Sian Ka'an Biosphere Reserve, Kantenah, Kantunulkin, and Hoyo Negro Paleoindian site, all led by El Centro Investigador de Sistema Acuífero de Quintana Roo (CINDAQ) in Mexico.
Official website here: www.fomdf.org
Who is the CEO of Friends Of Mexican Development Foundation Inc?
Miguel Aleman Velasco is the Chairman & President of Friends Of Mexican Development Foundation Inc.
Official website here: www.fomdf.org
What is the revenue of Friends Of Mexican Development Foundation Inc?
Friends Of Mexican Development Foundation Inc's revenue in 2022 was $774,829.
Official website here: www.fomdf.org
Who are the executives of Friends Of Mexican Development Foundation Inc and what are their salaries?
There 6 volunteers at Friends Of Mexican Development Foundation Inc.
Here are 6 key members and their salaries:
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Official website here: www.fomdf.org
Where can I find the form 990 for Friends Of Mexican Development Foundation Inc?
Friends Of Mexican Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fomdf.org
Learn more at the official website: www.fomdf.org
Mission Statement of Friends Of Mexican Development Foundation Inc
The Friends of Mexican Development Foundation Inc is committed to providing support for development programs initiated by Mexicans in various fields. These fields include health, the humanities, education, tourism, rural development, disaster relief, and sustainable development. By offering grants, the foundation aims to contribute to these initiatives and foster growth in Mexico.
Specifically, the foundation has supported projects in Mexico related to caves and biosphere reserves. For instance, they have contributed to the exploration of the Ox Bel Ha cave system, the Sian Ka'an Biosphere Reserve, the Kantenah exploration project, the Kantunulkin exploration project, and the Hoyo Negro Paleoindian site. These projects not only promote scientific discovery but also contribute to the preservation of Mexico's natural and cultural heritage.
In essence, the Friends of Mexican Development Foundation Inc serves as a catalyst for development in Mexico, backing initiatives led by locals in various sectors. By doing so, they aim to enhance the well-being of Mexicans and preserve their rich cultural heritage.
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Impact
August, 2024
Friends Of Mexican Development Foundation Inc's impact is felt through their support of development programs initiated by Mexicans in various crucial fields. By providing grants to projects like the El Centro Investigador de Sistema Acuífero de Quintana Roo (CINDAQ) in Mexico, including exploration projects in significant areas like the Ox Bel Ha cave system, Sian Ka'an Biosphere Reserve, Kantenah, Kantunulkin, and the Hoyo Negro Paleoindian site, the foundation contributes to advancements in health, education, tourism, rural development, disaster relief, and sustainable development in Mexico. This support helps empower local initiatives and promote positive change in diverse communities, making a tangible difference in the lives of many.
This information is meant to be a general summary of Friends Of Mexican Development 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.
- Gross Receipts: $774,829
Assets and Liabilities:
- Total Assets: $185,801
- Total Liabilities: $0
- Net Assets: $185,801
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Organization Details
Founding Year
1984
Phone
(212) 812-4362Principal Officer
Miguel Aleman Velasco
Main Address
31 WEST 34TH STREET 7TH FL 7010, NEW YORK, NY, 10001
Website
www.fomdf.orgNTEE Category
Code: Q123 - International
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