Overview
What is Independence Square Foundation?
The Independence Square Foundation is a nonprofit organization, specifically a management group, that offers top-notch office spaces, program facilities, meeting rooms, and cost-sharing services to various non-profit organizations. Their primary focus is on supporting non-profit entities that cater to the needs of individuals with disabilities, ensuring they have the suitable work environments they deserve despite potential budget constraints. Operating from facilities in Pawtucket and Kingston, Rhode Island, the Independence Square Foundation plays a crucial role in promoting and enabling the success of these non-profit entities.
Official website here: www.isfne.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Independence Square Foundation received a Two-Star out of Four Star rating from Charity Navigator, indicating that while there are positive aspects to its operations, there are notable areas for improvement. The organization scored 61% overall, which reflects strengths in areas such as board independence and transparency regarding asset management. The majority of the board members are independent, and there are no reported material diversions of assets, showcasing a commitment to ethical governance.
However, the foundation has critical weaknesses that affected its overall score. Although the program expense ratio is commendable at 73.83%, reflecting effective use of funds for its mission, the absence of key policies such as a whistleblower policy and a document retention and destruction policy raises concerns about accountability and transparency. Additionally, the liabilities to assets ratio of 66.29% suggests potential financial vulnerabilities that may need to be addressed.
Overall, while the Independence Square Foundation demonstrates solid governance practices in terms of board structure and financial management, it faces challenges related to policy development and financial health that may hinder its effectiveness and credibility. Addressing these limitations could enhance its standing and operational performance in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Independence Square Foundation legitimate?
Independence Square Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Independence Square 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: $185,611
Professional Fundraising Fees: $0
Other Salaries and Wages: $168,722
For more financial information, click here
Official website here: www.isfne.org
What is the mission statement of Independence Square Foundation?
The Independence Square Foundation is a non-profit management organization that aims to support other non-profit organizations serving people with disabilities. It strives to provide these organizations with high-quality office spaces, program facilities, meeting rooms, and cost-shared office services. The foundation understands that these organizations may not be able to afford such facilities on their own and seeks to bridge this gap. By doing so, the Independence Square Foundation aims to enhance the working environments of these non-profits, thereby enabling them to better serve their communities.
Official website here: www.isfne.org
Who is the CEO of Independence Square Foundation?
John J Padien Iii is the Treasurer of Independence Square Foundation.
Official website here: www.isfne.org
What is the revenue of Independence Square Foundation?
Independence Square Foundation's revenue in 2022 was $1,793,257.
Official website here: www.isfne.org
Who are the executives of Independence Square Foundation and what are their salaries?
The average compensation at Independence Square Foundation during 2022 was $35,433. There are 10 employees at Independence Square Foundation.
Here are 7 key members and their salaries:
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- Compensation: $185,611
- Related: $0
- Other: $0
Official website here: www.isfne.org
Where can I find the form 990 for Independence Square Foundation?
Independence Square Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.isfne.org
Learn more at the official website: www.isfne.org
Mission Statement of Independence Square Foundation
The Independence Square Foundation, Inc., serves as a non-profit management organization, dedicated to enhancing the work environments and facilities for other charitable organizations. This organization, specifically focusing on non-profits that cater to individuals with disabilities, provides them with top-notch office spaces, program facilities, meeting rooms, and cost-shared office services. By doing so, it ensures that these organizations can operate in an environment that matches their stature, yet may not be financially feasible for them to achieve independently.
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Impact
October, 2024
Independence Square Foundation significantly enhances the operational capacity of caregiver organizations by providing them with state-of-the-art facilities and resources. By offering high-quality office spaces, program facilities, and meeting rooms, the Foundation ensures that these organizations, particularly those focused on supporting individuals with disabilities, have access to the professional environments they need to thrive.
This commitment transforms how nonprofit entities can operate, allowing them to maximize their impact on the communities they serve. The shared office services reduce overhead costs, enabling these organizations to allocate more resources towards their missions. By creating an environment that fosters collaboration and innovation, Independence Square Foundation not only uplifts individual nonprofits but also contributes to a stronger, more effective network of services for people with disabilities within Rhode Island.
This information is meant to be a general summary of Independence Square 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: $15,704
- Program Service Revenue: $1,803,914
- Gross Receipts: $1,793,257
Assets and Liabilities:
- Total Assets: $9,128,284
- Total Liabilities: $6,051,270
- Net Assets: $3,077,014
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL OF FACILITIES
Revenue
$1,792,644
SHARED SERVICE FEES
Revenue
$11,270
Organization Details
Founding Year
1984
Phone
(401) 782-0450Principal Officer
John J Padien Iii
Main Address
500 PROSPECT STREET, PAWTUCKET, RI, 02860
Website
www.isfne.orgNTEE Category
Code: Q30 - International
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