Overview
What is Liederkranz Foundation Inc?
Liederkranz Foundation Inc, located at 6 East 87th Street, New York, NY 10128, is a nonprofit organization committed to fostering German-American relationships. Their primary focus is on cultural and social exchange, as well as sponsoring musical events. Their activities are geared towards supporting, developing, and preserving culture within New York City. Specifically, they oversee a scholarship competition, musical programs, chorus conductor, music director, and piano care and repair. The foundation employs a team of four individuals dedicated to fulfilling its mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 42% (Zero-Star out of Four Stars)
The Liederkranz Foundation Inc has received a low rating of 42%, indicating significant concerns regarding its accountability and financial practices. The score is derived solely from its Accountability & Finance metrics, where it excels in areas such as having a fully independent board and proper auditing procedures. However, the charity struggles with transparency, as indicated by several missing policies and documentation that are essential for proper governance and accountability.
While the organization has managed to maintain a low liability-to-assets ratio, the program expense ratio is notably low at 10.80%. This suggests that a very small portion of its resources is being allocated towards its programs, raising questions about the effectiveness and impact of its operations. Furthermore, the absence of critical policies such as conflict of interest and whistleblower protections highlights a lack of comprehensive governance practices.
Overall, while Liederkranz Foundation Inc has some strengths in its board independence and financial oversight, the significant gaps in transparency and operational effectiveness present serious limitations. These factors contribute to a concerning evaluation by Charity Navigator, urging potential donors to consider these issues carefully.
This AI summary has been generated from information found on Charity Navigator.
Is Liederkranz Foundation Inc legitimate?
Liederkranz Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Liederkranz 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: $141,160
For more financial information, click here
What is the mission statement of Liederkranz Foundation Inc?
The Liederkranz Foundation Inc is committed to fostering German-American relations and promoting cultural and social exchange. Their primary focus is on organizing musical events and sponsoring related activities. The foundation is also dedicated to supporting, developing, and preserving culture in New York City. Their activities include hosting a scholarship competition, organizing musical programs, and providing services for chorus conductors, music directors, and piano care and repair.
In essence, the Liederkranz Foundation Inc serves as a platform for cultivating cultural exchange between German and American communities, while also nurturing the artistic landscape in New York City. Their commitment to musical events and cultural preservation makes them a significant contributor to the cultural landscape of the city.
Who is the CEO of Liederkranz Foundation Inc?
Lya Pfeifer is the Secretary of Liederkranz Foundation Inc.
What is the revenue of Liederkranz Foundation Inc?
Liederkranz Foundation Inc's revenue in 2023 was $1,120,757.
Who are the executives of Liederkranz Foundation Inc and what are their salaries?
The average compensation at Liederkranz Foundation Inc during 2023 was $35,290. There are 4 employees at Liederkranz Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Liederkranz Foundation Inc?
Liederkranz Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Liederkranz Foundation Inc
Liederkranz Foundation Inc, a nonprofit organization, is committed to fostering German-American relations and promoting cultural and social exchange. Its primary focus is on sponsoring musical events and supporting the development and preservation of culture in New York City. Through its activities, the foundation seeks to advance these objectives, dedicating its efforts towards cultivating a rich cultural landscape in the city. The organization's mission encompasses various initiatives, including scholarship competitions, musical programs, and the support of chorus conductors, music directors, and piano care and repair services.
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Impact
October, 2024
Liederkranz Foundation Inc significantly enhances German-American relations through a dynamic blend of cultural and social exchange. By sponsoring musical events and programs, it plays a crucial role in promoting the rich heritage of German arts within the vibrant cultural landscape of New York City.
The foundation hosts scholarship competitions that nurture talent and support aspiring musicians, ensuring that the next generation of artists can thrive. Through its musical programs and activities, including the involvement of skilled chorus conductors and music directors, Liederkranz fosters a deeper appreciation for music and cultural traditions among the community.
Additionally, Liederkranz's commitment to music education and support services, such as piano care and repair, ensures that the tools of creativity are accessible, contributing to the overall development and preservation of cultural richness in the city. Its efforts not only celebrate German culture but also promote diversity and inclusivity in the arts, making a lasting impact on New York's cultural scene.
This information is meant to be a general summary of Liederkranz 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: $98,940
- Program Service Revenue: $502,988
- Gross Receipts: $1,120,757
Assets and Liabilities:
- Total Assets: $10,184,179
- Total Liabilities: $20,073
- Net Assets: $10,164,106
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DONATIONS
Membership Dues & Assessments
Revenue
$9,400
MUSICAL CULTURAL EVENTS
Revenue
$7,332
REIMBURSED EXPENSES
USE OF FACILITY
Revenue
$486,256
Organization Details
Founding Year
1948
Phone
(212) 534-0880Principal Officer
Lya Pfeifer
Main Address
6 EAST 87TH STREET, NEW YORK, NY, 10128
NTEE Category
Code: A68Z - Arts
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