Overview
What is Verrazano Rotary Charitable Foundation?
The Verrazano Rotary Charitable Foundation, located in Brooklyn, New York, is a charitable organization that focuses on raising funds through special events and fundraisers. Their purpose is to collect charitable donations and then distribute these funds to other qualified 501C(3) charitable organizations. Some of their fundraising activities include fashion shows, dinner dances, and golf outings. Their mission aligns with the broader objective of supporting various charitable causes by channeling donations to deserving organizations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star Rating
The Verrazano Rotary Charitable Foundation has received an 87% rating from Charity Navigator, which reflects a strong emphasis on accountability and finance. This score is derived solely from the Accountability & Finance beacon, demonstrating the organization's commitment to transparency and responsible financial management. The foundation scored perfectly in several key areas, including independent board membership and the absence of asset diversions.
Strengths of the organization include a fully independent board, excellent management of assets with a liabilities to assets ratio of 0.00%, and a 100% program expense ratio, indicating that all expenses are directed towards its charitable programs. Additionally, the presence of robust policies such as a whistleblower policy and proper document retention practices further highlight its commitment to ethical standards and accountability.
While the charity excels in financial governance, it is important to note that the rating is based primarily on these criteria. Potential donors may want to explore more about the specific programs and initiatives supported by the foundation to understand its overall impact within the community. However, the high accountability rating provides confidence in the foundation's operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Verrazano Rotary Charitable Foundation legitimate?
Verrazano Rotary Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Verrazano Rotary 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.
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
What is the mission statement of Verrazano Rotary Charitable Foundation?
The Verrazano Rotary Charitable Foundation's mission revolves around receiving charitable donations and distributing them to other qualified charitable organizations under Section 501C(3). It accomplishes this mission by organizing special events and fundraiser activities, such as fashion shows, dinner dances, and golf outings, to raise funds for redistribution. The foundation serves as a conduit for channeling philanthropic contributions towards various worthy causes.
Who is the CEO of Verrazano Rotary Charitable Foundation?
Joseph Caruana is the Treasurer of Verrazano Rotary Charitable Foundation.
What is the revenue of Verrazano Rotary Charitable Foundation?
Verrazano Rotary Charitable Foundation's revenue in 2022 was $138,401.
Who are the executives of Verrazano Rotary Charitable Foundation and what are their salaries?
There 5 volunteers at Verrazano Rotary Charitable Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Verrazano Rotary Charitable Foundation?
Verrazano Rotary Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Verrazano Rotary Charitable Foundation
The Verrazano Rotary Charitable Foundation serves a crucial role in the charitable sector. Its primary mission, as stated, is to receive donations that are then distributed to other qualified charitable organizations under Section 501C(3). This organization is dedicated to facilitating the flow of philanthropic funds to deserving charities, thereby amplifying their impact and furthering their respective causes.
In addition to its primary function, the Verrazano Rotary Charitable Foundation also organizes special events and fundraising activities to raise additional funds. These events, such as fashion shows, dinner dances, and golf outings, serve as avenues to garner support and resources for the causes championed by the recipient organizations. By hosting these events, the foundation not only contributes financially but also increases public awareness and engagement with the charitable sector.
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Impact
October, 2024
The Verrazano Rotary Charitable Foundation plays a pivotal role in enhancing community well-being through targeted philanthropic efforts. By receiving charitable donations, the foundation takes significant steps to support various qualified organizations that align with its mission, which focuses on improving lives and fostering community growth.
The foundation organizes special events such as fashion shows, dinner dances, and golf outings that not only raise funds but also promote community engagement and awareness. These events provide a platform for social interaction and fundraising, creating a sense of unity among participants while channeling resources to those in need.
Through its fundraising activities, the Verrazano Rotary Charitable Foundation directly impacts numerous charitable organizations, helping them extend their reach and improve their services. By strategically distributing funds, the foundation ensures that the financial contributions make a meaningful difference in the lives of individuals and families throughout the Brooklyn area and beyond. The foundation’s commitment to philanthropy exemplifies how community-driven efforts can foster positive change and promote a spirit of generosity and support among local residents.
This information is meant to be a general summary of Verrazano Rotary 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.
- Gross Receipts: $221,611
Assets and Liabilities:
- Total Assets: $484,198
- Total Liabilities: $0
- Net Assets: $484,198
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Organization Details
Founding Year
2004
Phone
(718) 630-1404Principal Officer
Joseph Caruana
Main Address
9728 3rd AVE, BROOKLYN, NY, 11209
NTEE Category
Code: T30 - Philanthropy
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