Overview
What is Paamonim?
Paamonim is a nonprofit organization, based in Brooklyn, New York, with a focus on aiding and supporting other organizations sharing a similar mission. They accomplish this by offering grants, financial counseling, and interest-free loans to needy communities both within the United States and internationally. The organization's purpose is to bolster the capacity of like-minded organizations, thereby extending their reach and impact. With a small team of three dedicated individuals, Paamonim plays a significant role in strengthening the financial wellbeing of communities in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Paamonim has received a solid Three-Star rating from Charity Navigator, indicating a strong commitment to accountability and finance. This rating is based entirely on their high score for accountability, highlighting their adherence to best practices in financial management and governance. The charity has demonstrated an impressive program expense ratio of nearly 98%, showcasing that the majority of their funds are directed toward their programs and initiatives.
The organization's governance structure is robust, with a board that consists entirely of independent members, which ensures impartiality in decision-making. They have also excelled in financial oversight, with a fully compliant audit and oversight committee, along with well-documented board meeting minutes. These strengths reflect a commitment to transparency and responsible stewardship of resources.
However, while the financial metrics are commendable, the overall rating does not provide information on the impact or effectiveness of the programs offered by Paamonim. Potential donors and supporters may want to consider seeking additional details on outcomes and community feedback to gain a full picture of the charity's effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Paamonim legitimate?
Paamonim is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paamonim 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: $59,291
For more financial information, click here
What is the mission statement of Paamonim?
Paamonim's mission is to aid and assist other organizations, both domestically and internationally, that share similar goals. They accomplish this by providing grants, financial counseling, and interest-free loans to communities in need. This support is aimed at empowering these organizations to continue their work in providing essential services to those who are financially disadvantaged. Paamonim's mission is driven by a commitment to helping others and fostering a more equitable society.
Who is the CEO of Paamonim?
Eliezer Biderman is the Treasurer of Paamonim.
What is the revenue of Paamonim?
Paamonim's revenue in 2021 was $1,585,639.
Who are the executives of Paamonim and what are their salaries?
The average compensation at Paamonim during 2021 was $19,764. There are 3 employees at Paamonim.
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 Paamonim?
Paamonim's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Paamonim
Paamonim, a nonprofit organization, is committed to supporting other charities both in the United States and abroad. Their mission is to aid and assist these organizations with a similar goal by providing them with grants, financial counseling, and interest-free loans. Paamonim aims to help needy individuals within communities by extending a hand to organizations that share their purpose. By offering this assistance, Paamonim is instrumental in strengthening the capacity of these organizations to serve their respective communities more effectively.
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Impact
October, 2024
Paamonim significantly enhances the capacity of organizations that serve the needy, both in the U.S. and abroad. Through its support, it provides critical financial resources, including grants and interest-free loans, which empower these organizations to deliver essential services to vulnerable populations. By offering financial advice and counseling, Paamonim equips these organizations with the tools they need to effectively assist individuals and families facing economic hardships. This collaborative approach not only boosts the overall impact of community-based initiatives but also fosters a network of support that strengthens the fabric of society, enabling more effective outreach and long-term solutions for those in need.
This information is meant to be a general summary of Paamonim. 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 2021.
- Gross Receipts: $1,585,639
Assets and Liabilities:
- Total Assets: $279,230
- Total Liabilities: $34,788
- Net Assets: $244,442
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Organization Details
Founding Year
2006
Phone
(347) 228-1699Principal Officer
Eliezer Biderman
Main Address
1520 39TH STREET, BROOKLYN, NY, 11218
NTEE Category
Code: T30 - Philanthropy
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