Overview
What is Greenlight Fund Inc?
Greenlight Fund Inc is a Boston-based nonprofit organization that identifies critical community needs in the eleven cities where it operates and imports innovative, results-oriented nonprofit approaches to address these needs. Through a rigorous selection process, Greenlight Fund carefully evaluates organizations based on their outcomes, revenue model, replicability, and potential fit within the local landscape. Once selected, the organization receives financial and non-financial assistance, including funding, talent acquisition, partnership facilitation, and local board involvement. Greenlight Fund's mission is to create infrastructure and a consistent annual process in cities to identify critical needs, import innovative programs, and galvanize local and national support to help programs reach and sustain impact in their new location. In 2022, Greenlight Fund launched its eleventh site in Greater Newark and began its first selection process. In 2022, Greenlight-supported organizations collectively reached 565,744 children, youth, and families.
Official website here: www.greenlightfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Greenlight Fund Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of trust and strong performance in accountability and finance. The organization scored 97% in its Accountability & Finance category, demonstrating robust governance practices, transparency, and effective financial management. The presence of an independent board with 93% of its members being independent reflects a strong commitment to ethical oversight.
The financial metrics are particularly noteworthy, with a program expense ratio of 81.73%, showcasing that a significant portion of resources is directed towards its mission. Additionally, the fundraising efficiency is commendable, with only $0.02 spent to raise each dollar, which indicates efficient fundraising practices. Overall, the organization appears well-managed and capable of utilizing its funds effectively.
However, while the organization excels in accountability and finance, it received a score of 83% in the Culture & Community category. This suggests there may be areas for improvement in fostering community engagement or enhancing its organizational culture. Nevertheless, the overall strong ratings highlight Greenlight Fund Inc as a commendable nonprofit with a focus on accountability and effective programming.
This AI summary has been generated from information found on Charity Navigator.
Is Greenlight Fund Inc legitimate?
Greenlight Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greenlight Fund 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: $235,122
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,634,137
For more financial information, click here
Official website here: www.greenlightfund.org
What is the mission statement of Greenlight Fund Inc?
The Greenlight Fund is a non-profit organization dedicated to improving the lives of children and families in high-poverty urban areas. Through its efforts, the Fund creates infrastructure and an annual process in new cities to identify critical needs and import innovative entrepreneurs with programs capable of making a significant and measurable impact. Galvanizing local and national support is essential to help these programs reach and sustain their impact. The Greenlight Fund's mission is about transforming lives by fostering a consistent process for identifying crucial needs and fostering the growth of impactful, entrepreneurial programs in urban communities.
Official website here: www.greenlightfund.org
Who is the CEO of Greenlight Fund Inc?
Margaret Hall is the Clerk, Ceo of Greenlight Fund Inc. The CEO's salary of Greenlight Fund Inc is $195,267 and their total compensation is $211,270.
Official website here: www.greenlightfund.org
What is the revenue of Greenlight Fund Inc?
Greenlight Fund Inc's revenue in 2022 was $21,472,030.
Official website here: www.greenlightfund.org
Who are the executives of Greenlight Fund Inc and what are their salaries?
The average compensation at Greenlight Fund Inc during 2022 was $71,653. There are 54 employees and 354 volunteers at Greenlight Fund Inc.
Here are 21 key members and their salaries (Greenlight Fund Inc's CEO's salary is $195,267 and their total compensation is $211,270):
- Compensation: $195,267
- Related: $0
- Other: $16,003
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- Compensation: $14,846
- Related: $0
- Other: $9,006
- Compensation: $183,577
- Related: $0
- Other: $7,426
- Compensation: $191,831
- Related: $0
- Other: $16,712
- Compensation: $168,435
- Related: $0
- Other: $15,017
- Compensation: $165,928
- Related: $0
- Other: $30,429
- Compensation: $142,615
- Related: $0
- Other: $13,962
Official website here: www.greenlightfund.org
Where can I find the form 990 for Greenlight Fund Inc?
Greenlight Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greenlightfund.org
Learn more at the official website: www.greenlightfund.org
Mission Statement of Greenlight Fund Inc
The Greenlight Fund is a transformative force in the lives of children and families living in high-poverty urban areas. By establishing infrastructure and implementing a consistent annual process in various cities, this organization identifies critical needs and imports innovative entrepreneurial programs that can make a significant and measurable impact. Once selected, the Greenlight Fund galvanizes local and national support to help these programs reach and sustain their impact in the new city.
In essence, the Greenlight Fund serves as a catalyst for change, bridging the gap between pressing social needs and effective, sustainable solutions. Through its unique approach, the organization brings much-needed resources and attention to underserved communities, fostering long-term progress and positive change for the children and families who reside there.
The Greenlight Fund's mission is multi-faceted, encompassing the identification of critical community needs, the importation of impactful entrepreneurial programs, and the mobilization of local and national support. By addressing these key areas, the organization is able to create lasting change and make a significant difference in the lives of children and families in high-poverty urban areas.
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Impact
October, 2024
Greenlight Fund Inc significantly transforms the lives of children and families in high-poverty urban areas through its innovative approach to addressing community needs. By identifying critical local challenges, it imports entrepreneurial programs that have demonstrated measurable success in other regions. This structured process allows Greenlight to select and launch organizations that can make a substantial, positive impact in their new environments.
In its eleven operational cities, Greenlight Fund has not only facilitated the introduction of impactful programs but also provides robust financial support averaging $600,000 per organization over the first four years. This assistance extends beyond funding; it includes recruiting qualified leadership, fostering partnerships, and ensuring the sustainability of the programs within the community.
Since its inception, Greenlight Fund has successfully imported various organizations that cater to diverse needs—from employment solutions to educational support—reaching a vast audience. In 2022 alone, its supported initiatives impacted over 565,000 children, youth, and families, showcasing the effectiveness and transformative potential of its model. By combining resources, community insights, and proven methodologies, Greenlight Fund plays a vital role in fostering lasting change and improving the quality of life for urban families facing hardship.
This information is meant to be a general summary of Greenlight Fund 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 2022.
- Investment Income: $528,819
- Gross Receipts: $43,391,226
Assets and Liabilities:
- Total Assets: $52,683,189
- Total Liabilities: $399,974
- Net Assets: $52,283,215
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Organization Details
Founding Year
2003
Phone
(617) 912-8983Principal Officer
Margaret Hall
Main Address
50 MILK STREET 16TH FLOOR, BOSTON, MA, 02109
Website
www.greenlightfund.orgNTEE Category
Code: S50 - Community improvement
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