Overview
What is The Thomas M Brennan Memorial Foundation Inc?
The Thomas M Brennan Memorial Foundation Inc, based in Chappaqua, New York, is a nonprofit organization established to honor the memory of Thomas M. Brennan, who tragically lost his life on September 11, 2001. The Foundation's primary mission is to provide financial aid in the form of scholarships to students in need at Boston College, embodying Tom's spirit of generosity and support. During the year 2021, the Foundation funded 21 students, ensuring their scholarships covered their four years of attendance. In addition to the scholarship program, the Foundation also granted funds to purchase computers, further expanding its support. The Foundation actively accumulates the principal to sustain its future program activities.
Official website here: www.tmbmf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Thomas M Brennan Memorial Foundation Inc has achieved an 83% rating from Charity Navigator, indicating a generally favorable evaluation of its accountability and financial health. The foundation demonstrates solid governance, with a fully independent board and no material diversion of assets. The organization also excels in its program expenses, allocating nearly 95% of its resources towards its mission-related activities.
However, there are some areas for improvement. Notably, the foundation lacks a whistleblower policy and does not have a documented retention and destruction policy in place, which are critical components of organizational transparency and accountability. While the foundation has made significant strides in various governance metrics, addressing these gaps would enhance its overall rating.
In summary, The Thomas M Brennan Memorial Foundation Inc shows strong financial management and commitment to its programs, yet it could strengthen its governance framework by implementing the missing policies. This would not only improve its rating but also increase donor confidence in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is The Thomas M Brennan Memorial Foundation Inc legitimate?
The Thomas M Brennan Memorial Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Thomas M Brennan Memorial 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: $0
For more financial information, click here
Official website here: www.tmbmf.org
What is the mission statement of The Thomas M Brennan Memorial Foundation Inc?
The Thomas M Brennan Memorial Foundation's mission is centered around honoring the memory of an individual who tragically passed away on September 11, 2001. The primary objective of the Foundation is to provide financial aid in the form of scholarships to students in need, at Boston College. This initiative is established to commemorate the life of the deceased. The Foundation has been funding scholarships for 18 consecutive years, supporting 21 students during 2021, and continues to do so throughout their four years of attendance. Additionally, the Foundation has granted funds to purchase computers, aiming to support the educational needs of the recipients. The Foundation continues to build up its principal, ensuring its ability to sustain its program activities in the future.
Official website here: www.tmbmf.org
What is the revenue of The Thomas M Brennan Memorial Foundation Inc?
The Thomas M Brennan Memorial Foundation Inc's revenue in 2024 was $144,643.
Official website here: www.tmbmf.org
Who are the executives of The Thomas M Brennan Memorial Foundation Inc and what are their salaries?
There 5 volunteers at The Thomas M Brennan Memorial Foundation Inc.
Here are 5 key members and their salaries:
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Official website here: www.tmbmf.org
Where can I find the form 990 for The Thomas M Brennan Memorial Foundation Inc?
The Thomas M Brennan Memorial Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.tmbmf.org
Learn more at the official website: www.tmbmf.org
Mission Statement of The Thomas M Brennan Memorial Foundation Inc
The Thomas M Brennan Memorial Foundation Inc is a nonprofit organization established to honor the memory of Thomas M. Brennan, who tragically lost his life on September 11, 2001. The primary mission of this foundation is to provide financial assistance to students in need through scholarships at Boston College. These scholarships are awarded to students who demonstrate a strong academic record and financial hardship, enabling them to pursue their education without the burden of excessive financial obligations.
In addition to the scholarship program, The Thomas M Brennan Memorial Foundation Inc also provides grant funding to purchase computers. This initiative aims to ensure that students have the necessary resources to support their academic pursuits effectively. The foundation continues to accumulate the principal that will sustain its program activities in the future, ensuring the longevity and impact of its mission.
By funding scholarships and computer grants, The Thomas M Brennan Memorial Foundation Inc honors the memory of Thomas M. Brennan by providing opportunities for deserving students to pursue their educational goals. The foundation's commitment to financial assistance and resource provision allows it to make a meaningful difference in the lives of those it serves.
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Impact
October, 2024
The Thomas M. Brennan Memorial Foundation Inc has made a significant impact by providing educational opportunities through scholarships for students in need at Boston College. By funding 21 students in 2021 alone and committing to support them throughout their four years of attendance, the Foundation ensures that financial barriers do not hinder deserving students from pursuing their academic goals.
Additionally, by awarding grants for acquiring computers, the Foundation enhances students' access to technology, crucial for their education in today's digital world. Its commitment to accumulating principal funds demonstrates a forward-thinking approach that secures ongoing support for future generations. By honoring the memory of Thomas M. Brennan, who lost his life on September 11, 2001, the Foundation not only preserves his legacy but also enriches the lives of many students, fostering a community of learners who can thrive academically and beyond.
This information is meant to be a general summary of The Thomas M Brennan Memorial 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 2024.
- Investment Income: $63,592
- Gross Receipts: $252,957
Assets and Liabilities:
- Total Assets: $1,396,727
- Total Liabilities: $63,536
- Net Assets: $1,333,191
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Organization Details
Founding Year
2003
Principal Officer
Pete A Meyers
Website
www.tmbmf.orgNTEE Category
Code: B82 - Education
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