Overview
What is Diamond Empowerment Fund Inc?
Diamond Empowerment Fund Inc, operating under the alias "Diamonds Do Good," is a nonprofit organization based in New York City, specifically at 450 LEXINGTON AVENUE 4TH FL, NY 10017. Their primary mission is to support initiatives that empower youth in diamond-producing nations through access to high-quality education, skill development, and vocational training. This nonprofit aims to uplift communities worldwide by fostering growth and development through various empowering initiatives. With a small team of two dedicated individuals, Diamond Empowerment Fund Inc continues its mission to positively impact the lives of people in diamond-producing communities.
Official website here: www.diamondsdogood.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85%, Three-Star out of Four Star rating.
The Diamond Empowerment Fund Inc has received an 85% rating from Charity Navigator, indicating a solid performance in accountability and finance. This rating is based entirely on its Accountability & Finance score, reflecting the organization's commitment to transparency and responsible financial practices. The charity has demonstrated strong governance through a fully independent board and robust oversight mechanisms, contributing to its positive evaluation.
The organization excels in several areas, notably having 100% independent board members and a comprehensive audit and oversight committee. Additionally, it maintains high standards for document management and financial health, with a favorable liabilities-to-assets ratio of 47.49% and a program expense ratio of 67.88%. These factors suggest that a significant portion of its resources is directed towards its mission-related activities.
However, there are areas for improvement, particularly regarding the absence of a whistleblower policy and a document retention and destruction policy. While these omissions do not significantly impact the overall rating, addressing them could enhance the organization's governance framework. Overall, the Diamond Empowerment Fund demonstrates a strong commitment to financial accountability, making it a commendable option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Diamond Empowerment Fund Inc?
84% of the 12 reviewers on Facebook recommend the Diamond Empowerment Fund Inc. Here’s a brief summary of their insights:
The feedback highlights a general sense of appreciation for the organization’s mission. One reviewer particularly noted a positive aspect regarding the effectiveness of the initiative, mentioning its benefits against cellphone radiation, which could suggest an interest in health-oriented programs.
Overall, while the volume of reviews is limited, those who engaged with the nonprofit seem to support its efforts and acknowledge its contributions. The organization appears to resonate with its audience, indicating a satisfactory perception among its supporters.
This AI summary has been generated from reviews found on Facebook.
Is Diamond Empowerment Fund Inc legitimate?
Diamond Empowerment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Diamond Empowerment 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: $167,908
Professional Fundraising Fees: $0
Other Salaries and Wages: $62,809
For more financial information, click here
Official website here: www.diamondsdogood.com
What is the mission statement of Diamond Empowerment Fund Inc?
The Diamond Empowerment Fund Inc's mission is centered around supporting initiatives that aim to develop and empower people in diamond-producing communities worldwide. This organization's primary objective is to provide youth in these nations with access to high-quality education, skill-building, and vocational training. By doing so, it seeks to contribute to their overall development, empowering them to lead fulfilling lives. The Diamond Empowerment Fund Inc's activities are geared towards uplifting these communities, fostering growth and self-sufficiency.
Official website here: www.diamondsdogood.com
Who is the CEO of Diamond Empowerment Fund Inc?
Yancy Smith is the President of Diamond Empowerment Fund Inc.
Official website here: www.diamondsdogood.com
What is the revenue of Diamond Empowerment Fund Inc?
Diamond Empowerment Fund Inc's revenue in 2022 was $612,339.
Official website here: www.diamondsdogood.com
Who are the executives of Diamond Empowerment Fund Inc and what are their salaries?
The average compensation at Diamond Empowerment Fund Inc during 2022 was $115,358. There are 2 employees at Diamond Empowerment Fund Inc.
Here are 34 key members and their salaries:
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- Compensation: $167,908
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- Other: $32,543
Official website here: www.diamondsdogood.com
Where can I find the form 990 for Diamond Empowerment Fund Inc?
Diamond Empowerment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.diamondsdogood.com
Learn more at the official website: www.diamondsdogood.com
Mission Statement of Diamond Empowerment Fund Inc
The Diamond Empowerment Fund, an organization committed to making a difference, aims to support initiatives that develop and empower individuals in diamond-producing communities worldwide. Their mission is twofold: firstly, they focus on providing youth in these communities with access to high-quality education. This includes not just formal schooling but also skill-building and vocational training. By equipping these young people with the necessary tools, they can contribute positively to their communities and secure a better future for themselves.
Secondly, the Diamond Empowerment Fund is dedicated to empowering people in diamond communities globally. Their initiatives strive to uplift these communities, providing them with the resources and opportunities they need to thrive. By supporting these initiatives, the Diamond Empowerment Fund is making a significant impact, helping to create a brighter future for individuals in diamond-producing nations. Their mission is a testament to their commitment to making a difference in the lives of those in need, fostering positive change and development in diamond communities worldwide.
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Impact
July, 2024
Diamond Empowerment Fund Inc's impact can be seen in its support of initiatives that provide youth in diamond-producing nations with access to high-quality education, skill-building, and vocational training. By empowering these young people, the fund is contributing to the development and upliftment of individuals in diamond communities worldwide. This support is crucial in helping to create sustainable opportunities for growth and prosperity in these regions, ultimately leading to a brighter future for those involved.
This information is meant to be a general summary of Diamond Empowerment 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.
- Gross Receipts: $833,236
Assets and Liabilities:
- Total Assets: $922,673
- Total Liabilities: $438,239
- Net Assets: $484,434
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Organization Details
Founding Year
2006
Phone
(212) 359-4219Principal Officer
Yancy Smith
Main Address
450 LEXINGTON AVENUE 4TH FL, NEW YORK, NY, 10017
Website
www.diamondsdogood.comNTEE Category
Code: Q33 - International
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