Overview
What is The Staten Island Chamber Of Commerce Foundation Inc?
The Staten Island Chamber of Commerce Foundation Inc, located in Staten Island, New York, is a charitable organization with a mission to foster small business development and promote business technology advancement within the local community. By leveraging educational programs and commercial revitalization projects, the foundation aims to alleviate governmental burdens, ultimately revitalizing local streets, businesses, and community-based organizations that serve as Staten Island's cornerstones. With a dedicated team of five individuals, the Foundation works in partnership with local stakeholders to identify and launch projects that strengthen and revitalize the community.
Official website here: www.sichamber.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Staten Island Chamber Of Commerce Foundation Inc has achieved a high rating of 96%, reflecting its strong performance in accountability and finance. This score, derived from a single beacon score, indicates that the organization operates with a high level of transparency and fiscal responsibility. The foundation showcases an impressive commitment to governance, with a fully independent board and a robust framework for auditing and oversight.
The organization excels in managing its resources, as evidenced by a program expense ratio of 83.30%, suggesting that a significant portion of its budget is directed towards its programs rather than administrative costs. Additionally, the foundation has no material diversion of assets, indicating sound financial practices. Their policies on conflict of interest and whistleblower protections are also in place, further demonstrating a commitment to ethical operations.
While the foundation's financial health appears strong, the high accountability and finance score does not provide insight into the specific impact of its programs or outreach efforts. Therefore, while the operational aspects are commendable, further information on the effectiveness of its initiatives would provide a more complete picture of its overall impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is The Staten Island Chamber Of Commerce Foundation Inc legitimate?
The Staten Island Chamber Of Commerce Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Staten Island Chamber Of Commerce 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: $471,628
For more financial information, click here
Official website here: www.sichamber.com
What is the mission statement of The Staten Island Chamber Of Commerce Foundation Inc?
The Staten Island Chamber of Commerce Foundation has been established with a mission to support and enhance small business development and business technology advancement within their community. This is achieved through charitable educational programs and commercial revitalization initiatives that aim to alleviate the burdens of government. The foundation's activities are geared towards fostering a thriving business environment, ultimately contributing to the community's growth and prosperity. The New York City Department of Small Business Services, in collaboration with local stakeholders, has launched the Neighborhood 360 program in partnership with the foundation. This program identifies, develops, and executes commercial revitalization projects, focusing on strengthening and revitalizing small businesses and community-based organizations that play a significant role in neighborhoods.
Official website here: www.sichamber.com
What is the revenue of The Staten Island Chamber Of Commerce Foundation Inc?
The Staten Island Chamber Of Commerce Foundation Inc's revenue in 2023 was $800,037.
Official website here: www.sichamber.com
Who are the executives of The Staten Island Chamber Of Commerce Foundation Inc and what are their salaries?
The average compensation at The Staten Island Chamber Of Commerce Foundation Inc during 2023 was $157,209. There are 3 employees and 100 volunteers at The Staten Island Chamber Of Commerce Foundation Inc.
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Official website here: www.sichamber.com
Where can I find the form 990 for The Staten Island Chamber Of Commerce Foundation Inc?
The Staten Island Chamber Of Commerce Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sichamber.com
Learn more at the official website: www.sichamber.com
Mission Statement of The Staten Island Chamber Of Commerce Foundation Inc
The Staten Island Chamber of Commerce Foundation, also known as the Foundation, was established with a mission to support and advance small business development and business technology development within the Staten Island community. Through charitable educational programs and commercial revitalization projects, the Foundation aims to lessen the burdens of government in this endeavor. The Foundation's activities are geared towards fostering a thriving business environment, thereby contributing to the overall growth and prosperity of the community.
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Impact
October, 2024
The Staten Island Chamber of Commerce Foundation Inc plays a crucial role in fostering economic growth and revitalization within the Staten Island community. By supporting small business development and enhancing business technology, the Foundation focuses on creating a more robust local economy.
Through charitable educational programs, it equips local entrepreneurs with essential skills and knowledge, empowering them to thrive in a competitive market. The Foundation's initiatives also align with the Neighborhood 360 Program, collaborating with local stakeholders to identify and implement commercial revitalization projects. These efforts target improvements in public spaces, streetscapes, and community functionality, ultimately enhancing the overall livability and vibrancy of Downtown Staten Island.
By lessening the burdens of government through proactive planning and targeted investments, the Foundation not only strengthens small businesses but also revitalizes neighborhoods, contributing to a dynamic and thriving community that benefits all its residents.
This information is meant to be a general summary of The Staten Island Chamber Of Commerce 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 2023.
- Investment Income: $58,768
- Gross Receipts: $1,027,641
Assets and Liabilities:
- Total Assets: $3,623,782
- Total Liabilities: $544,581
- Net Assets: $3,079,201
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Organization Details
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