Overview
What is Two Ten Footwear Foundation Inc?
Two Ten Footwear Foundation Inc is a nonprofit organization based in Waltham, Massachusetts, dedicated to supporting footwear industry employees and their families during times of crisis. Their primary focus is providing emergency financial assistance to cover essential needs such as housing costs, utility bills, and car repairs. They also offer resources for natural disaster relief, referrals to specialized services, and community resources. In FY22, they assisted 1,397 families and responded to calls from 2,647 individuals, offering assistance in various forms like rent or mortgage payments, utility bills, and car repairs. Additionally, they offer higher education scholarships to eligible applicants working within the footwear industry or their dependents. The scholarships are awarded based on financial need, academic ability, and personal promise. In FY22, they funded 149 students with scholarships, with most receiving awards between $4,000 and $5,000 annually. Two Ten Footwear Foundation Inc serves individuals from 50 states, Puerto Rico, and the U.S. Virgin Islands, with the top five states seeking their services being Tennessee, Louisiana, Michigan, Indiana, and Arkansas in FY22.
Official website here: www.twoten.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Two Ten Footwear Foundation Inc has achieved a remarkable 96% overall score on Charity Navigator, which highlights its strong performance in accountability and finance. With a perfect score of 100% in this area, the foundation demonstrates robust financial health and transparency, which is crucial for fostering trust among donors and stakeholders.
One of the notable strengths of the organization is its governance structure, with 97% of its board members being independent. This independence, coupled with a sizeable board of 33 members, contributes to effective oversight and decision-making processes. Additionally, the foundation has maintained zero material diversion of assets, showcasing its commitment to financial integrity.
While the fundraising efficiency ratio of $0.23 indicates that a portion of donations is used for fundraising expenses, the organization still effectively allocates 73.69% of its expenses towards programs. Overall, the Two Ten Footwear Foundation Inc exemplifies a well-managed nonprofit with strong accountability measures, though potential donors may want to consider the fundraising efficiency in their decision-making process.
This AI summary has been generated from information found on Charity Navigator.
Is Two Ten Footwear Foundation Inc legitimate?
Two Ten Footwear Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Two Ten Footwear 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
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Other Salaries and Wages: $1,985,885
For more financial information, click here
Official website here: www.twoten.org
What is the mission statement of Two Ten Footwear Foundation Inc?
Two Ten Footwear Foundation Inc's mission is centered around providing support services to individuals employed or formerly employed in the footwear industry and their immediate family members. This support encompasses financial, educational, social, and counseling services during times of crisis. The organization offers emergency financial assistance for various immediate needs, natural disaster relief, referrals to specialized services, and essential community resources. In addition, Two Ten Foundation provides higher education scholarships to footwear industry employees and their families based on financial need, academic ability, and personal promise. The foundation serves a wide range of footwear employees from different states and assists them with their educational expenses.
Official website here: www.twoten.org
Who is the CEO of Two Ten Footwear Foundation Inc?
Clyde Sylvia is the Director of Two Ten Footwear Foundation Inc. The CEO's salary of Two Ten Footwear Foundation Inc is $361,352 and their total compensation is $393,730.
Official website here: www.twoten.org
What is the revenue of Two Ten Footwear Foundation Inc?
Two Ten Footwear Foundation Inc's revenue in 2022 was $5,812,562.
Official website here: www.twoten.org
Who are the executives of Two Ten Footwear Foundation Inc and what are their salaries?
The average compensation at Two Ten Footwear Foundation Inc during 2022 was $124,118. There are 16 employees at Two Ten Footwear Foundation Inc.
Here are 42 key members and their salaries (Two Ten Footwear Foundation Inc's CEO's salary is $361,352 and their total compensation is $393,730):
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Official website here: www.twoten.org
Where can I find the form 990 for Two Ten Footwear Foundation Inc?
Two Ten Footwear Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.twoten.org
Learn more at the official website: www.twoten.org
Mission Statement of Two Ten Footwear Foundation Inc
The Two Ten Footwear Foundation Inc, as a nonprofit organization, is committed to providing case management services to individuals employed or formerly employed in the shoe industry or their immediate family members. Its mission is to coordinate necessary financial, educational, social, and counseling services during times of crisis. This is achieved by offering emergency financial assistance to cover housing costs, utility bills, car repairs, and other immediate needs. The foundation also provides relief during natural disasters, refers individuals to specialized services such as crisis intervention, credit, and debt counseling, and offers essential community resources. Payments are made directly to footwear employees via e-check, ranging from $1,000 to $3,000 based on need. The population of footwear families assisted by Two Ten spans across 50 states, Puerto Rico, and the U.S. Virgin Islands, with the top five states seeking its services being Tennessee, Louisiana, Michigan, Indiana, and Arkansas in FY22.
In addition to financial assistance, Two Ten Footwear Foundation Inc also offers higher education scholarships based on financial need, academic ability, and personal promise. In FY22, the foundation funded 149 students with scholarships, with most students receiving awards between $4,000 and $5,000, renewable annually if they maintain a required GPA of at least 2.5. The scholarship application process is outsourced to the International Scholarship and Tuition Services (ISTS), with the foundation's scholarship staff ranking applicants using a scoring rubric weighted by financial need, special circumstances, and academics based on GPA. The foundation serves to ease the burden of higher education costs for footwear employees or their dependents attending college.
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Impact
October, 2024
Two Ten Footwear Foundation Inc significantly impacts the lives of footwear employees and their families, particularly during times of immediate crisis. By providing emergency financial assistance, the foundation plays a crucial role in preventing evictions and supporting individuals facing financial hardships. In the last fiscal year, it assisted 1,397 footwear families, offering direct payments for housing costs, utility bills, and necessary car repairs, with payouts ranging from $1,000 to $3,000 based on need.
The foundation also responds to natural disasters, processing crisis cases and distributing funds to alleviate the burden on families displaced by events such as floods or fires. Additionally, it connects individuals to vital resources, including crisis intervention and mental health services, facilitating referrals to over 16,000 community resources like United Way and the Red Cross.
In terms of education, Two Ten helps promote growth within the footwear industry by providing scholarships to employees and their families based on financial need and academic promise. In the last year alone, 149 students received scholarships, significantly alleviating the rising costs of higher education. This support strengthens the workforce and fosters long-term success for families in the footwear sector.
Overall, Two Ten Footwear Foundation Inc effectively addresses immediate crises while also investing in the future of footwear employees through educational opportunities, making a lasting positive impact within the community.
This information is meant to be a general summary of Two Ten Footwear 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: $2,510,825
- Gross Receipts: $9,052,516
Assets and Liabilities:
- Total Assets: $38,171,628
- Total Liabilities: $605,324
- Net Assets: $37,566,304
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Organization Details
Founding Year
1939
Phone
(781) 736-1524Principal Officer
Clyde Sylvia
Main Address
1466 MAIN STREET, WALTHAM, MA, 02451
Website
www.twoten.orgNTEE Category
Code: S410 - Community improvement
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