Overview
What is The Nysarc Trust - Exempt Fund?
The Nysarc Trust - Exempt Fund is a nonprofit entity situated in Latham, New York. Its primary function is to receive, hold, and invest donations, bequests, and gifts, all aimed at benefiting the guardianship program of its associated organization. The mission of this trust is to administer an exempt fund specifically designed for the welfare of disabled individuals. By doing so, it contributes to the wellbeing of these individuals in a charitable capacity, without specifying the exact nature of the support provided.
Official website here: www.nysarc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33% (Zero-Star out of Four Star rating)
The Nysarc Trust - Exempt Fund has received a low rating of 33% from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The evaluation is based entirely on a single beacon score, which reveals that while the organization has a fully independent board, it has major shortcomings in financial transparency. Specifically, the absence of financial statements and a missing whistleblower policy contribute to this unfavorable rating.
The organization shows strength in governance, with all board members being independent and a proper size for oversight. However, the lack of essential financial documentation raises questions about its operational transparency and effectiveness in managing funds. The program expense ratio is notably low at 11.27%, suggesting a minimal portion of resources is directed towards its intended mission.
Overall, while the Nysarc Trust - Exempt Fund meets certain governance standards, its deficiencies in financial reporting and lack of critical policies limit its accountability. Potential donors and stakeholders may want to exercise caution and seek additional information before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is The Nysarc Trust - Exempt Fund legitimate?
The Nysarc Trust - Exempt Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Nysarc Trust - Exempt Fund 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:
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Official website here: www.nysarc.com
What is the mission statement of The Nysarc Trust - Exempt Fund?
The Nysarc Trust - Exempt Fund's mission is centered around administering an exempt trust for disabled individuals. In this role, they receive, safeguard, and invest donations, bequests, and gifts, all aimed at benefiting the guardianship program of the associated organization. This trust serves as a vital resource, utilizing these funds to support the needs of disabled individuals.
Official website here: www.nysarc.com
Who is the CEO of The Nysarc Trust - Exempt Fund?
Warren H Heilbonner Esq is the Principal Officer of The Nysarc Trust - Exempt Fund.
Official website here: www.nysarc.com
What is the revenue of The Nysarc Trust - Exempt Fund?
The Nysarc Trust - Exempt Fund's revenue in 2022 was $780,995.
Official website here: www.nysarc.com
Who are the executives of The Nysarc Trust - Exempt Fund and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.nysarc.com
Where can I find the form 990 for The Nysarc Trust - Exempt Fund?
The Nysarc Trust - Exempt Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nysarc.com
Learn more at the official website: www.nysarc.com
Mission Statement of The Nysarc Trust - Exempt Fund
The Nysarc Trust - Exempt Fund is dedicated to managing an exempt trust for the benefit of disabled individuals. This nonprofit organization's primary mission is to receive, hold, and invest donations, bequests, and gifts, all aimed at supporting the guardianship program of the associated organization. By doing so, The Nysarc Trust - Exempt Fund contributes to the well-being of individuals with disabilities, ensuring their financial stability and future security.
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Impact
October, 2024
The Nysarc Trust - Exempt Fund plays a crucial role in supporting disabled individuals by administering an exempt trust specifically designed for their benefit. It receives, holds, and invests donations, bequests, and gifts, ensuring that resources are effectively managed and allocated to enrich the lives of those with disabilities. By funding the guardianship program of the associated organization, the trust provides essential services and support, fostering a greater sense of independence and security for disabled individuals in the Latham, NY area. Through its philanthropic efforts, the trust directly contributes to enhanced quality of life, ensuring that vulnerable members of the community have access to necessary resources and opportunities.
This information is meant to be a general summary of The Nysarc Trust - Exempt Fund. 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: $49,533
- Gross Receipts: $1,146,263
Assets and Liabilities:
- Total Assets: $1,317,650
- Total Liabilities: $0
- Net Assets: $1,317,650
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Organization Details
Founding Year
1972
Phone
(518) 439-8323Principal Officer
Warren H Heilbonner Esq
Main Address
PO BOX 1531, LATHAM, NY, 12110
Website
www.nysarc.comNTEE Category
Code: T00 - Philanthropy
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