Overview
What is New York Yankees Foundation Inc?
New York Yankees Foundation Inc is a charitable organization, headquartered in the Bronx, New York, with a strong commitment to fostering harmonious relationships with local communities and partners. The Foundation regularly grants funds to various community-based organizations, offering beneficial educational, recreational, and social opportunities. By providing assistance in the form of financial aid, including gifts, contributions, grants, donations, scholarships, and other forms of support, the Foundation aids both for-profit and non-profit organizations, not only in the Bronx but also in the wider New York metropolitan area, various states, commonwealths, and territories within the United States, and beyond, adhering to the applicable laws of New York and federal regulations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
The New York Yankees Foundation Inc has received an 84% rating from Charity Navigator, reflecting solid accountability and financial health. This rating is particularly significant as it is derived entirely from the organization's performance in the Accountability and Finance metric, indicating a strong commitment to responsible management of funds.
Strengths of the foundation include a fully independent board and a high program expense ratio, with 92.93% of its budget allocated directly to programs. The organization also demonstrates excellent fundraising efficiency, with only $0.07 spent to raise each dollar, showcasing its effectiveness in resource management. Additionally, the foundation has no material diversions of assets or loans to/from officers, indicating strong governance practices.
However, while the overall score is commendable, there is always room for improvement. Stakeholders may benefit from more detailed insights into program impact and community engagement, which are not captured in the current financial metrics. This could enhance the foundation's transparency and further bolster donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is New York Yankees Foundation Inc legitimate?
New York Yankees Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New York Yankees 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: $95,000
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of New York Yankees Foundation Inc?
The New York Yankees Foundation Inc's mission is centered around providing assistance. They offer financial aid in various forms, such as grants, donations, scholarships, and other forms of financial assistance, to both for-profit and non-profit organizations. The foundation extends its support to organizations nationwide, abiding by the laws of New York and applicable federal laws. Their primary goal is to provide aid to organizations across the United States, aiming to contribute positively to various communities.
Who is the CEO of New York Yankees Foundation Inc?
Derrick Baio is the President/ Director of New York Yankees Foundation Inc.
What is the revenue of New York Yankees Foundation Inc?
New York Yankees Foundation Inc's revenue in 2022 was $1,313,523.
Who are the executives of New York Yankees Foundation Inc and what are their salaries?
There 12 volunteers at New York Yankees Foundation Inc.
Here are 11 key members and their salaries:
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Where can I find the form 990 for New York Yankees Foundation Inc?
New York Yankees Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New York Yankees Foundation Inc
The New York Yankees Foundation Inc is committed to offering assistance to both for-profit and non-profit organizations, within the bounds of New York state and federal laws. This assistance takes various forms, including financial aid in the form of gifts, contributions, grants, donations, scholarships, and other forms of financial assistance. The foundation's primary goal is to provide support to organizations that align with its mission, aiming to extend its reach beyond the New York metropolitan area and across various states, commonwealths, and possessions of the United States. By offering this assistance, the New York Yankees Foundation Inc seeks to contribute to the betterment of these organizations and the communities they serve.
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Impact
October, 2024
The New York Yankees Foundation Inc has a significant impact on communities by promoting positive relationships and enhancing the quality of life within the Bronx and surrounding areas. Through its commitment to providing assistance, the foundation allocates grants to various community-based organizations monthly. These organizations focus on delivering educational, recreational, and social opportunities, thereby fostering a supportive environment for local residents.
By offering gifts, contributions, and scholarships, the foundation ensures that both for-profit and not-for-profit organizations can thrive, addressing diverse community needs. Its efforts exemplify a dedicated approach to philanthropy, creating pathways for personal and professional development while nurturing community ties. The foundation's influence can be seen in its ongoing support for initiatives that promote well-being and opportunities for individuals and families in the metropolitan area, solidifying its role as a vital community partner.
This information is meant to be a general summary of New York Yankees 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.
- Program Service Revenue: $201,918
- Gross Receipts: $1,415,323
Assets and Liabilities:
- Total Assets: $662,617
- Total Liabilities: $163,540
- Net Assets: $499,077
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STADIUM GUIDED TOURS
Revenue
$134,138
SCOREBOARD-FAN MARQUEE
Revenue
$67,470
YANKEE UNIVERSE
Revenue
$310
Organization Details
Founding Year
1961
Phone
(718) 293-4300Principal Officer
Derrick Baio
Main Address
ONE EAST 161ST STREET, BRONX, NY, 10451
NTEE Category
Code: T30 - Philanthropy
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