Overview
What is Financial Resources Fcu Foundation Inc?
Financial Resources Fcu Foundation Inc is a charitable organization based in Bridgewater, New Jersey, with an address at 520 US Highway 22 East 1st Floor. The foundation's primary purpose is to contribute to charitable, religious, and scientific causes, as per IRS code sections 501(3) and 170(2). In 2022, they held a charity event at The Palace at Somerset Park, benefiting local charities and scholarships, including the New Jersey Center for Tourette Syndrome and Associated Disorders, Inc. (NJCT). The NJCT Youth Development Program offers mentorship, leadership training, and self-advocacy resources for youth diagnosed with Tourette Syndrome, providing them with a supportive environment to share experiences and advocate for themselves and others.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating
Financial Resources FCU Foundation Inc has achieved an impressive 94% score, indicating a strong commitment to accountability and financial transparency. The rating reflects a focus on financial health, with all aspects of the score coming from the Accountability & Finance beacon. This high score suggests that the foundation effectively manages its resources and adheres to best practices in governance.
Strengths of the organization include a fully independent board consisting of six members, the absence of any material diversion of assets, and well-established policies to handle conflicts of interest and whistleblower protections. The foundation also demonstrates strong practices in record retention and destruction, which adds to its credibility and reliability as a nonprofit organization.
However, while the financial metrics indicate a robust program expense ratio of 96.74%, there is limited information on the foundation's programmatic impact and community engagement. Overall, the foundation appears to be well-managed financially, but further insights into its operational effectiveness would be beneficial for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Financial Resources Fcu Foundation Inc legitimate?
Financial Resources Fcu Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Financial Resources Fcu Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Financial Resources Fcu Foundation Inc?
The Financial Resources Fcu Foundation Inc has been established with charitable, religious, and scientific purposes, falling under sections 501(3) and 170(2) of the IRS Code. This foundation primarily focuses on distributing funds to organizations that also fall under section 501(C)(3) of the IRS Code. In 2022, a charity event was held at Somerset Park's Palace, with proceeds benefiting the New Jersey Center for Tourette Syndrome and Associated Disorders, Inc., as well as other local charities and scholarships. Additionally, the foundation supports the NJCT Youth Development Program, which provides mentorship, leadership, and self-advocacy training for youth diagnosed with Tourette Syndrome, offering a safe space for them to share experiences and advocate for themselves and others.
Who is the CEO of Financial Resources Fcu Foundation Inc?
Frank Almeida is the President of Financial Resources Fcu Foundation Inc.
What is the revenue of Financial Resources Fcu Foundation Inc?
Financial Resources Fcu Foundation Inc's revenue in 2022 was $51,094.
Who are the executives of Financial Resources Fcu Foundation Inc and what are their salaries?
There 5 volunteers at Financial Resources Fcu Foundation Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Financial Resources Fcu Foundation Inc?
Financial Resources Fcu Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Financial Resources Fcu Foundation Inc
Financial Resources Fcu Foundation Inc, as per its organizational structure, has been established with the primary objective of serving charitable, religious, and scientific purposes. Adhering to sections 501(3) and 170(2) of the IRS code, this foundation is committed to making distributions to organizations under section 501(C)(3) of the IRS code. In essence, the foundation's mission is to contribute to the betterment of society by providing financial support to various charitable organizations and initiatives.
The foundation's activities are not limited to monetary contributions. It also extends its support to organizations operating under section 501(C)(3) of the IRS code. This multifaceted approach to philanthropy allows Financial Resources Fcu Foundation Inc to make a significant impact in diverse areas of need. By channeling its resources towards these causes, the foundation aims to contribute to the overall improvement of society, making it a valuable asset in the nonprofit sector.
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Impact
August, 2024
Financial Resources FCU Foundation Inc's impact is significant, with a focus on supporting youth development through various charitable activities and events. In 2022, the foundation organized a charity event at the Palace at Somerset Park, the proceeds of which benefitted the New Jersey Center for Tourette Syndrome and Associated Disorders (NJCT) along with other local charities and scholarships. NJCT's youth development program specifically provides mentorship support, leadership training, and self-advocacy training for young individuals diagnosed with Tourette Syndrome, offering them a safe space to share experiences and learn to advocate for themselves and others. This demonstrates the foundation's commitment to making a positive impact on the lives of young people in the community.
This information is meant to be a general summary of Financial Resources Fcu Foundation 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: $2
- Gross Receipts: $74,841
Assets and Liabilities:
- Total Assets: $64,935
- Total Liabilities: $9,067
- Net Assets: $55,868
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Organization Details
Founding Year
2007
Phone
(908) 253-6449Principal Officer
Frank Almeida
Main Address
520 US HIGHWAY 22 EAST 1ST FLOOR, BRIDGEWATER, NJ, 08807
NTEE Category
Code: O12 - Youth development
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