Overview
What is The Ayco Charitable Foundation?
The Ayco Charitable Foundation, based in Cohoes, New York (100 Coliseum Drive), is a charitable organization dedicated to making a difference through philanthropy. With a focus on religious, charitable, scientific, literary, or educational causes, the foundation receives donations and distributes grants to organizations as outlined in Section 170(B)(1)(A) of the Internal Revenue Code. In the year 2022, they made approximately 31,400 grants amounting to over $229 million. The Ayco Charitable Foundation operates as a sponsoring organization and maintains donor-advised funds, promoting and encouraging charitable giving as its primary mission.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 83%, Three-Star out of Four Star rating.
The Ayco Charitable Foundation has received a solid Three-Star rating from Charity Navigator, indicating a commendable level of accountability and financial health. The overall score reflects a high level of transparency and responsible management, particularly evident in its perfect score for independent board membership and key governance policies. These factors suggest that the organization operates with integrity and is well-structured in its oversight.
One of the notable strengths of the foundation is its impressive program expense ratio, standing at 98.66%, which indicates that nearly all of its resources are directed towards its mission-related activities. Additionally, the organization maintains a very low liabilities to assets ratio of 0.27%, demonstrating strong financial stability and minimal debt. The overall financial oversight, with robust audit practices and no reported conflicts of interest, further underscores its reliability.
However, the foundation's fundraising efficiency is notably low with a ratio of $0.002, which indicates that the costs associated with raising funds may be considerably high relative to the amounts raised. While this may not be an immediate concern given the high program expense ratio, it may warrant future attention to ensure sustainable fundraising practices. Overall, The Ayco Charitable Foundation appears to be well-managed and committed to its mission, although improvements in fundraising efficiency could enhance its financial sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is The Ayco Charitable Foundation legitimate?
The Ayco Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ayco Charitable 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.
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What is the mission statement of The Ayco Charitable Foundation?
The Ayco Charitable Foundation focuses on encouraging and promoting philanthropy and charitable giving. The organization achieves this by collecting donations and granting funds primarily to charities described under Section 170(B)(1)(A) of the Internal Revenue Code, mainly for religious, charitable, scientific, literary, or educational purposes. In the fiscal year ending on December 31, 2022, The Ayco Charitable Foundation made approximately 31,400 grants, totaling around $229 million, to various charitable organizations. The foundation operates as a sponsoring organization under Section 4966 of the Code and manages donor-advised funds.
Who is the CEO of The Ayco Charitable Foundation?
Karey Dye is the President of The Ayco Charitable Foundation.
What is the revenue of The Ayco Charitable Foundation?
The Ayco Charitable Foundation's revenue in 2022 was $272,944,349.
Who are the executives of The Ayco Charitable Foundation and what are their salaries?
There 18 volunteers at The Ayco Charitable Foundation.
Here are 18 key members and their salaries:
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Where can I find the form 990 for The Ayco Charitable Foundation?
The Ayco Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Ayco Charitable Foundation
The Ayco Charitable Foundation, or ACF, is a philanthropic organization dedicated to encouraging and promoting charitable giving. It achieves its charitable purpose by accepting donations and granting funds, primarily to organizations described in Section 170(B)(1)(A) of the Internal Revenue Code of 1986, for religious, charitable, scientific, literary, or educational purposes. In the fiscal year ending December 31, 2022, ACF made approximately 31,400 grants, totaling approximately $229,388,000, to various charitable organizations. The organization functions as a "sponsoring organization" under Code Section 4966 and manages donor-advised funds.
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Impact
October, 2024
The Ayco Charitable Foundation significantly impacts communities by encouraging and promoting philanthropy and charitable giving. In 2022 alone, the foundation made approximately 31,400 grants, totaling around $229.4 million, to various organizations that serve religious, charitable, scientific, literary, and educational purposes. By operating as a sponsoring organization and maintaining donor advised funds, The Ayco Charitable Foundation effectively channels resources to support causes that create meaningful change. Its commitment to philanthropic endeavors amplifies the influence of charitable contributions, fostering a culture of giving that benefits numerous communities and initiatives.
This information is meant to be a general summary of The Ayco Charitable 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 2022.
- Investment Income: $21,270,544
- Gross Receipts: $1,107,966,749
Assets and Liabilities:
- Total Assets: $931,399,000
- Total Liabilities: $2,541,000
- Net Assets: $928,858,000
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Organization Details
Founding Year
1995
Phone
(800) 335-5353Principal Officer
Karey Dye
Main Address
100 COLISEUM DRIVE, COHOES, NY, 12047
NTEE Category
Code: T300 - Philanthropy
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