Overview
What is Friends Of Hec Inc?
Friends of Hec Inc is a small, New York-based nonprofit organization situated at 555 Madison Avenue, 5th Floor. Their primary mission is to advocate for and support schools, educational programs, and institutions that are connected to The Ecole Des Hautes Etudes commerciales. By doing so, they contribute to the overall success and development of these educational entities. With a team of just one dedicated individual, Friends of Hec Inc plays a crucial role in advancing the interests of these educational institutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
Friends Of Hec Inc has received a "Needs Improvement" rating from Charity Navigator, indicating potential areas for growth despite some strong aspects of its operations. The organization demonstrated a strong commitment to accountability with perfect scores in several governance areas, such as majority independent board members and conflict of interest policies. Additionally, it maintains a high program expense ratio of 98.43%, reflecting its focus on programmatic spending over administrative costs.
However, the organization faces significant challenges in fundraising efficiency, with a score of only 5 out of 25 points in that area. The low fundraising efficiency ratio of $0.002 suggests potential difficulties in generating funds relative to expenses, which may affect its long-term sustainability. Furthermore, the working capital ratio is quite low at 0.03 years, indicating that the organization may struggle to meet its short-term financial obligations.
Overall, while Friends Of Hec Inc shows a commitment to transparency and effective program spending, its fundraising efficiency and financial health need attention to improve its rating and operational effectiveness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Hec Inc legitimate?
Friends Of Hec Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Hec 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: $234,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Friends Of Hec Inc?
Friends of Hec Inc is an organization dedicated to advocating for and supporting the interests of various educational programs and institutions connected to The Ecole Des Hautes Etudes commerciales. Their mission is to contribute positively to these educational entities, ensuring they thrive and continue to make a significant impact in their respective fields. By offering support, they aim to enhance the learning environment and foster growth within these schools and programs. Friends of Hec Inc also works towards promoting the values and goals of The Ecole Des Hautes Etudes commerciales, thereby contributing to the broader educational community.
Who is the CEO of Friends Of Hec Inc?
Jaime M Tique is the President of Friends Of Hec Inc.
What is the revenue of Friends Of Hec Inc?
Friends Of Hec Inc's revenue in 2022 was $3,832,118.
Who are the executives of Friends Of Hec Inc and what are their salaries?
The average compensation at Friends Of Hec Inc during 2022 was $234,000. There is 1 employee at Friends Of Hec Inc.
Here are 9 key members and their salaries:
- Compensation: $234,000
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- Other: $0
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- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Friends Of Hec Inc?
Friends Of Hec Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of Hec Inc
Friends of HEC Inc, as a nonprofit organization, is dedicated to advocating for and supporting the interests of schools, educational programs, and institutions connected to The Ecole Des Hautes Etudes commerciales. This mission involves providing assistance and backing to these educational entities, ensuring they thrive and contribute to the broader community. By focusing on the Ecole Des Hautes Etudes commerciales, Friends of HEC Inc is committed to fostering the success and development of this specific educational network.
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Impact
October, 2024
Friends Of Hec Inc significantly contributes to the educational landscape by supporting schools and academic programs connected with The Ecole Des Hautes Etudes Commerciales. This organization plays a vital role in fostering educational excellence, enhancing institutional resources, and promoting the interests of students and faculty within the associated institutions. Through its initiatives, it helps to create opportunities for learning and collaboration, ultimately enriching the educational experience and contributing to the development of future leaders in business and commerce. By championing these educational programs, Friends Of Hec Inc directly impacts the quality and accessibility of education in New York, laying the groundwork for impactful academic achievements and professional success.
This information is meant to be a general summary of Friends Of Hec 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: -$323
- Gross Receipts: $3,886,630
Assets and Liabilities:
- Total Assets: $65,407
- Total Liabilities: $8,615
- Net Assets: $56,792
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Organization Details
Founding Year
2008
Phone
(929) 215-3061Principal Officer
Jaime M Tique
Main Address
555 Madison Avenue 5th Floor, New York, NY, 10022
NTEE Category
Code: B82 - Education
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