Overview
What is New York Yacht Club Foundation?
The New York Yacht Club Foundation is a nonprofit organization established in 2007 under the New York State Not-For-Profit Corporation Law. Their primary mission is to preserve and restore the exteriors of historically significant buildings, with a focus on maintaining the charm and heritage of these structures. In 2017, the organization expanded its purpose to include projects such as reconstructing a greenhouse in Newport, Rhode Island, and renovating the facades of the Club's historic buildings. The New York Yacht Club Foundation continues its commendable work in safeguarding the architectural history and heritage of its relevant buildings.
Official website here: www.nyyc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Stars)
The New York Yacht Club Foundation has achieved a strong rating of 91% from Charity Navigator, earning a Four-Star distinction, which indicates a high level of accountability and financial management. This rating is based solely on their performance in the Accountability & Finance category, where they scored exceptionally well in key areas such as having a fully independent board and robust financial oversight. The foundation has no material diversions of assets, reflecting sound governance practices.
Strengths highlighted in the evaluation include a solid program expense ratio of 74.56%, indicating that a significant portion of their expenditures directly supports their mission. Additionally, the organization exhibits excellent financial health with a liabilities to assets ratio of only 1.19% and a working capital ratio of 5.86 years, showcasing their ability to sustain operations over the long term.
However, one area for improvement noted is the fundraising efficiency ratio, which scored relatively low at $0.062. This suggests that the foundation could enhance its efficiency in raising funds, potentially impacting its ability to expand or sustain programs in the future. Overall, while the New York Yacht Club Foundation demonstrates strong financial accountability, there remain opportunities to improve fundraising strategies.
This AI summary has been generated from information found on Charity Navigator.
Is New York Yacht Club Foundation legitimate?
New York Yacht Club Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New York Yacht Club 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: $133,241
For more financial information, click here
Official website here: www.nyyc.org
What is the mission statement of New York Yacht Club Foundation?
The New York Yacht Club Foundation is dedicated to preserving and restoring the exteriors of historically significant buildings. Established in 2007, the foundation has expanded its mission in 2017 to include reconstructing a greenhouse in Newport, Rhode Island, and renovating the facades of its own historical buildings. The organization's primary objective is to safeguard these architectural landmarks, ensuring they maintain their historical value and charm for future generations.
Official website here: www.nyyc.org
Who is the CEO of New York Yacht Club Foundation?
Harry T Rein is the President of New York Yacht Club Foundation.
Official website here: www.nyyc.org
What is the revenue of New York Yacht Club Foundation?
New York Yacht Club Foundation's revenue in 2022 was $2,169,633.
Official website here: www.nyyc.org
Who are the executives of New York Yacht Club Foundation and what are their salaries?
There 17 volunteers at New York Yacht Club Foundation.
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Official website here: www.nyyc.org
Where can I find the form 990 for New York Yacht Club Foundation?
New York Yacht Club Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nyyc.org
Learn more at the official website: www.nyyc.org
Mission Statement of New York Yacht Club Foundation
The New York Yacht Club Foundation is a non-profit organization with a mission to preserve and maintain the exteriors of historically significant buildings. Established in 2007, the foundation has a mandate to restore and protect these structures, demonstrating a strong commitment to historical preservation. In 2017, the foundation expanded its purpose to include reconstructing a greenhouse in Newport, Rhode Island, and renovating the facades of its own historic buildings. This expansive mission reflects the foundation's dedication to preserving not only individual buildings but also entire historical sites. The New York Yacht Club Foundation plays a crucial role in safeguarding our architectural heritage, ensuring that future generations can appreciate and learn from these important historical landmarks.
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Impact
October, 2024
The New York Yacht Club Foundation plays a vital role in preserving the architectural heritage and historical significance of notable buildings. By focusing on the maintenance, restoration, and preservation of these structures, the foundation contributes to the cultural and aesthetic fabric of the community.
Through its initiatives, such as the renovation of historic façades and the reconstruction of a greenhouse in Newport, Rhode Island, the foundation not only protects valuable historical assets but also enhances the surrounding environment. These efforts foster a sense of pride and identity within the community and encourage appreciation for the rich history embodied in these buildings.
Furthermore, the foundation's work supports broader community improvement goals, ensuring that these significant sites continue to be accessible and admired by future generations. Its activities not only safeguard history but also promote educational opportunities and community engagement, making a lasting impact on both local and regional levels.
This information is meant to be a general summary of New York Yacht Club 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.
- Investment Income: $13,254
- Gross Receipts: $3,527,703
Assets and Liabilities:
- Total Assets: $6,981,731
- Total Liabilities: $83,748
- Net Assets: $6,897,983
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Organization Details
Founding Year
2007
Phone
(212) 382-1000Principal Officer
Harry T Rein
Main Address
37 WEST 44TH STREET, NEW YORK, NY, 10036
Website
www.nyyc.orgNTEE Category
Code: S990 - Community improvement
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