Overview
What is Foundation For The Global Compact?
The Foundation for the Global Compact is a New York-based nonprofit organization dedicated to supporting the United Nations Global Compact, the world's largest corporate sustainability initiative. With over 12,000 businesses and 3,000 non-business signatories, based in 160 countries and spanning 69 local networks, the Global Compact encourages companies to align their strategies with ten principles on human rights, labor, environment, and anti-corruption. Through guidance, training, tools, and support, the initiative enables businesses of all sizes and sectors to achieve their sustainability objectives, ultimately contributing to the Sustainable Development Goals. The Foundation supports the Global Compact by raising funds and providing resources for its various programs and initiatives.
Official website here: www.globalcompactfoundation.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 87% (Three-Star out of Four Star rating)
The Foundation For The Global Compact has received a commendable Three-Star rating, reflecting strong performance in accountability and finance. The organization scored 87%, primarily due to its exceptional practices in managing financial responsibilities and transparency, which are crucial for fostering trust among donors and stakeholders.
One of the key strengths of this nonprofit is its governance structure, highlighted by a fully independent board and robust policies, including conflict of interest and whistleblower policies. Additionally, it demonstrates a solid financial performance with high marks in program expense ratio and fundraising efficiency, indicating effective use of funds towards its mission.
While the overall score is strong, the focus on accountability and finance suggests that there may be less emphasis on other operational aspects or programmatic outcomes. However, the current rating assures potential donors of the organization’s integrity and commitment to responsible resource management.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation For The Global Compact legitimate?
Foundation For The Global Compact is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation For The Global Compact 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: $297,221
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,376,826
For more financial information, click here
Official website here: www.globalcompactfoundation.org
What is the mission statement of Foundation For The Global Compact?
The Foundation for the Global Compact is a non-profit organization dedicated to raising funds to support the work of the UN Global Compact Office and related activities. Established to help businesses align their strategies with the UN Global Compact's principles on human rights, labor, environment, and anti-corruption, the organization enables businesses to achieve their sustainability objectives. The UN Global Compact, the world's largest corporate sustainability initiative, has a presence in over 160 countries and 69 local networks, and works alongside strategic partners like the Principles for Responsible Investment and the Principles for Responsible Management Education initiatives. Through these partnerships and action platforms, the UN Global Compact helps companies make the Global Goals local business and implement the ten principles to support sustainable development. The Foundation also supports initiatives to mainstream the SDGs among businesses worldwide and raise awareness for corporate climate action.
Official website here: www.globalcompactfoundation.org
Who is the CEO of Foundation For The Global Compact?
Alex Stein is the Chairman of Foundation For The Global Compact.
Official website here: www.globalcompactfoundation.org
What is the revenue of Foundation For The Global Compact?
Foundation For The Global Compact's revenue in 2022 was $41,502,333.
Official website here: www.globalcompactfoundation.org
Who are the executives of Foundation For The Global Compact and what are their salaries?
The average compensation at Foundation For The Global Compact during 2022 was $78,518. There are 85 employees and 7 volunteers at Foundation For The Global Compact.
Here are 14 key members and their salaries:
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- Compensation: $132,924
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- Compensation: $132,497
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- Compensation: $127,380
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- Other: $4,184
Official website here: www.globalcompactfoundation.org
Where can I find the form 990 for Foundation For The Global Compact?
Foundation For The Global Compact's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.globalcompactfoundation.org
Learn more at the official website: www.globalcompactfoundation.org
Mission Statement of Foundation For The Global Compact
The Foundation for the Global Compact is a non-profit organization established with the goal of raising funds to support the work of the UN Global Compact Office and related activities. This organization plays a crucial role in enabling businesses of all sizes and sectors to achieve their sustainability objectives by aligning their corporate strategies and operations with ten principles on human rights, labor, environment, and anti-corruption. The UN Global Compact, with over 12,000 companies and 3,000 non-business signatories from over 160 countries, is the largest corporate sustainability initiative in the world. The Foundation supports this initiative in planning and implementing its programmatic goals and helping companies make the Global Goals local business.
Through its 69 Global Compact Local Networks, the UN Global Compact spans the world, providing a platform for businesses to help solve social and environmental challenges through public-private partnerships. Local Networks are business-led, multi-stakeholder platforms that facilitate outreach, learning, policy dialogue, collective action, and partnerships. They are uniquely positioned to help companies understand what responsible business means within different national, cultural, and language contexts. The Foundation for the Global Compact also invites businesses to collaborate with like-minded peers and experts to develop innovative approaches to critical corporate sustainability issues through various action platforms. Ultimately, the Foundation's mission is to help businesses advance the ambitions of the 2030 Agenda for Sustainable Development and create a more sustainable and equitable future for all.
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Impact
October, 2024
The Foundation for the Global Compact significantly influences global corporate sustainability through its support of the UN Global Compact, the world's largest initiative focused on corporate responsibility. By raising funds and facilitating the implementation of programmatic goals, it empowers over 12,000 companies and 3,000 non-business signatories across 160 countries to commit at the CEO level to align their corporate strategies with ten essential principles concerning human rights, labor, environment, and anti-corruption.
This collaboration fosters an environment where businesses can take concrete actions towards the Sustainable Development Goals (SDGs). Through authoritative guidance, training, tools, and support, it enables companies, regardless of size, to pursue their sustainability objectives effectively. Its strategic partnerships with major initiatives like the Principles for Responsible Investment and the Principles for Responsible Management Education create a robust network aimed at transforming business practices worldwide.
Local networks play a crucial role by bridging global goals with local action, facilitating public-private partnerships that address pressing social and environmental challenges. These networks are essential for educating companies on responsible business practices tailored to diverse cultural and national contexts.
To drive impactful change at scale, the Foundation promotes various global initiatives that encourage businesses to adopt innovative and ambitious strategies in support of the 2030 Agenda for Sustainable Development. This includes actions focused on corporate climate responsibility, such as the "Target Climate 1.5C" initiative, pressing companies to align climate goals with scientific recommendations to achieve net-zero emissions by 2050.
Furthermore, the Young SDG Innovators Program activates emerging leaders within businesses, empowering them to develop solutions that both drive their companies’ sustainability objectives and contribute to broader societal goals. The emphasis on women’s empowerment within corporate structures, aligned with Sustainable Development Goal 5, underscores the Foundation’s holistic approach to creating inclusive business environments.
Through these efforts, the Foundation for the Global Compact fosters a transformative landscape in which responsible business practices become the norm, reinforcing the interconnected nature of sustainable development across the globe.
This information is meant to be a general summary of Foundation For The Global Compact. 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: $5,156
- Program Service Revenue: $126,372
- Gross Receipts: $41,502,333
Assets and Liabilities:
- Total Assets: $25,756,254
- Total Liabilities: $7,176,395
- Net Assets: $18,579,859
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT INCOME
Revenue
$126,372
Organization Details
Founding Year
2006
Phone
(212) 907-1309Principal Officer
Alex Stein
Main Address
685 THIRD AVENUE 12TH FLOOR, NEW YORK, NY, 10017
NTEE Category
Code: Q42 - International
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