Overview
What is Nfa Foundation Inc?
Nfa Foundation Inc, located in Norwich, Connecticut, serves as a fundraising entity with a mission to collect contributions, grants, and bequests for the Norwich Free Academy. Established with this purpose, the foundation plays a crucial role in supporting the academy by leveraging various financial resources. The foundation's activities are centered around securing funds to contribute to the academy's continued growth and success.
Official website here: www.nfafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Nfa Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong accountability and financial health. With a perfect score of 100% in Accountability & Finance, the organization demonstrates effective governance and transparency in its operations, ensuring that donors can trust that their contributions are managed responsibly.
The foundation's board is entirely composed of independent members, which is a significant strength, fostering unbiased decision-making and oversight. Their financial statements are thoroughly audited and supervised, and the organization has established various policies to safeguard its integrity, including conflict of interest and whistleblower policies. A noteworthy aspect is their high program expense ratio of 91.60%, indicating that a substantial portion of their resources is directed toward fulfilling their mission.
While the organization shows no material diversion of assets and maintains a low liabilities to assets ratio of 5.43%, it's essential for potential donors to consider the broader impact of the foundation's programs and initiatives beyond financial metrics. Overall, the Nfa Foundation Inc stands out as a well-managed nonprofit committed to its mission and maintaining transparency with its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Nfa Foundation Inc legitimate?
Nfa Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nfa 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: $125,450
Professional Fundraising Fees: $0
Other Salaries and Wages: $263,361
For more financial information, click here
Official website here: www.nfafoundation.org
What is the mission statement of Nfa Foundation Inc?
The Nfa Foundation Inc's mission is centered around soliciting and obtaining contributions, grants, and bequests. This nonprofit organization's primary purpose is to support the Norwich Free Academy. The foundation's activities involve actively seeking and receiving financial assistance for this educational institution.
Official website here: www.nfafoundation.org
Who is the CEO of Nfa Foundation Inc?
Richard Freeman is the President of Nfa Foundation Inc.
Official website here: www.nfafoundation.org
What is the revenue of Nfa Foundation Inc?
Nfa Foundation Inc's revenue in 2022 was $5,415,738.
Official website here: www.nfafoundation.org
Who are the executives of Nfa Foundation Inc and what are their salaries?
There 26 volunteers at Nfa Foundation Inc.
Here are 15 key members and their salaries:
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- Compensation: $119,747
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- Other: $14,794
- Compensation: $143,259
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- Other: $12,288
Official website here: www.nfafoundation.org
Where can I find the form 990 for Nfa Foundation Inc?
Nfa Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nfafoundation.org
Learn more at the official website: www.nfafoundation.org
Mission Statement of Nfa Foundation Inc
Nfa Foundation Inc, a notable organization, has been established with the primary objective of soliciting and receiving financial contributions, grants, and bequests. The purpose of this foundation is to support the Norwich Free Academy, a notable institution. By gathering resources in this manner, Nfa Foundation Inc aims to contribute to the betterment and development of the Norwich Free Academy.
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Impact
October, 2024
Nfa Foundation Inc plays a vital role in supporting the educational initiatives of the Norwich Free Academy through soliciting and receiving contributions, grants, and bequests. By mobilizing financial resources, the foundation enhances the academic environment, ensuring that students have access to quality education and important educational programs. Its efforts directly contribute to the enrichment of the community in Norwich, Connecticut, fostering a culture of philanthropy that benefits future generations of learners. Through its activities, Nfa Foundation Inc helps sustain and elevate the mission of the Norwich Free Academy, affirming the importance of educational support in building a stronger, more informed society.
This information is meant to be a general summary of Nfa 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: $3,214,554
- Gross Receipts: $13,510,386
Assets and Liabilities:
- Total Assets: $77,129,817
- Total Liabilities: $4,314,830
- Net Assets: $72,814,987
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Organization Details
Founding Year
1986
Phone
(860) 887-2505Principal Officer
Richard Freeman
Main Address
321 BROADWAY, NORWICH, CT, 063603547
Website
www.nfafoundation.orgNTEE Category
Code: T30 - Philanthropy
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