Overview
What is The Schenectady Foundation?
The Schenectady Foundation is a philanthropic trust established to enhance the well-being of residents in Schenectady County, New York. Acting as a benefactor, the foundation conducts a competitive grant program, awarding funds based on community needs, organizational capacity, and program effectiveness. By doing so, it directly contributes to addressing the needs and issues within the local community. Moreover, The Schenectady Foundation extends its support to deserving students from Schenectady County by offering college scholarships. During 2022, approximately 155,000 individuals in the county were served by the organization's initiatives.
Official website here: www.schenectadyfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star Rating)
The Schenectady Foundation has achieved a commendable Four-Star rating from Charity Navigator, indicating strong performance in both accountability and finance. With an impressive accountability score of 83%, the organization demonstrates a commitment to transparency, featuring a fully independent board and excellent financial oversight, which is critical for donor trust and operational integrity.
In terms of financial health, the foundation excels with a program expense ratio of nearly 90%, ensuring that a significant portion of its resources is directed toward its mission-driven initiatives. Additionally, it maintains a low liabilities-to-assets ratio, reflecting sound financial management and stability. These factors are crucial for sustaining its programs and making a meaningful impact in the community.
While the organization scores well overall, it has identified areas for growth, particularly in its equity strategies. However, the positive feedback from constituents suggests strong community engagement and responsiveness. The foundation's robust practices for collecting and utilizing feedback further enhance its effectiveness, ensuring that it remains aligned with the needs of those it serves.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Schenectady Foundation?
88% of 10 reviewers on Facebook recommend The Schenectady Foundation. Here’s a look at what they have to say:
Supporters appreciate the foundation's focus on improving the community, particularly in initiatives aimed at helping children. Many feel that the programs endorsed by the foundation significantly contribute to making Schenectady a better place for its residents.
Overall, the sentiment reflects a strong approval for the foundation's efforts and commitment to community development. People value the positive impact of the foundation's work and express confidence in its mission.
This AI summary has been generated from reviews found on Facebook.
Is The Schenectady Foundation legitimate?
The Schenectady Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Schenectady 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.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.schenectadyfoundation.org
What is the mission statement of The Schenectady Foundation?
The Schenectady Foundation's mission is centered around promoting sustainable improvement in the health and welfare of people, organizations, and neighborhoods. This philanthropic trust achieves this goal by investing philanthropic resources in the community. It focuses on addressing the needs and issues of the community by providing grants to tax-exempt charities that demonstrate effectiveness. The foundation's grant program is competitive, and funds are awarded based on community need, organizational capacity, and program effectiveness. In addition to its grant program, The Schenectady Foundation also awards college scholarships to deserving students. In 2022, the foundation served approximately 155,000 individuals in the community.
Official website here: www.schenectadyfoundation.org
Who is the CEO of The Schenectady Foundation?
Robert Carreau is the Executive Director And Sec of The Schenectady Foundation.
Official website here: www.schenectadyfoundation.org
What is the revenue of The Schenectady Foundation?
The Schenectady Foundation's revenue in 2022 was $1,792,002.
Official website here: www.schenectadyfoundation.org
Who are the executives of The Schenectady Foundation and what are their salaries?
There 15 volunteers at The Schenectady Foundation.
Here are 14 key members and their salaries:
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Official website here: www.schenectadyfoundation.org
Where can I find the form 990 for The Schenectady Foundation?
The Schenectady Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.schenectadyfoundation.org
Learn more at the official website: www.schenectadyfoundation.org
Mission Statement of The Schenectady Foundation
The Schenectady Foundation, a philanthropic trust, is dedicated to enhancing the well-being of residents in its community. Its mission is to bring about sustainable improvement in the health and welfare of people, organizations, and neighborhoods. To achieve this, the foundation invests philanthropic resources in addressing the needs and issues of the community. By doing so, The Schenectady Foundation aims to contribute positively to the lives of individuals, ensuring a better future for all. The foundation's approach is strategic, focusing on community needs, the capacity of organizations, and the effectiveness of their programs. Additionally, The Schenectady Foundation awards college scholarships to deserving students from the community, furthering education and opportunities for the next generation. In total, during 2022, approximately 155,000 individuals in the community benefited from the foundation's efforts.
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Impact
October, 2024
The Schenectady Foundation significantly enhances the welfare of residents in Schenectady County, New York, by distributing funds to support tax-exempt charities that address pressing community needs. Through a competitive grant program, the foundation evaluates applications based on community needs, organizational capacity, and the effectiveness of proposed programs, ensuring that resources are allocated to initiatives with the greatest potential for positive impact.
In 2022 alone, approximately 155,000 individuals benefited from the foundation’s efforts, highlighting its role in fostering sustainable improvements in health and welfare across the area. Additionally, the foundation awards college scholarships to deserving students, further contributing to the educational advancement of the region's youth. By investing in both immediate community challenges and long-term educational opportunities, the Schenectady Foundation plays a crucial role in strengthening neighborhoods and supporting the overall well-being of the population it serves.
This information is meant to be a general summary of The Schenectady 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: $1,353,803
- Gross Receipts: $2,461,365
Assets and Liabilities:
- Total Assets: $45,821,219
- Total Liabilities: $1,875,375
- Net Assets: $43,945,844
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Organization Details
Founding Year
1962
Phone
(518) 393-9500Principal Officer
Robert Carreau
Main Address
P O BOX 710, SCHENECTADY, NY, 12301
NTEE Category
Code: T11 - Philanthropy
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