Overview
What is Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn?
Bayonne Community Foundation Inc, formerly known as Bayonne Chaptof Unico Natlfdn, is a charitable nonprofit organization based in Bayonne, New Jersey. With an address at 1083 Avenue C PO Box 1465, this organization is dedicated to raising funds for various purposes, including scholarships, youth programs, and school music programs. Their primary mission is to provide financial aid to deserving students for their higher education or private high school studies, offering an average scholarship of $2,000 per year for each student. Beyond scholarships, the foundation also supports youth initiatives and school music programs with the collected funds.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50% (One-Star out of Four Stars)
The Bayonne Community Foundation Inc. has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. While the organization has shown strengths in its governance structure, such as maintaining a fully independent board and having no material diversion of assets, it has several critical areas where it falls short, particularly in transparency and compliance with recommended policies.
Specific weaknesses include a low program expense ratio of 51.30%, suggesting that less than half of its expenses go directly to programs, which may raise questions about its operational efficiency. Additionally, the foundation lacks essential policies, such as those addressing conflicts of interest, whistleblower protections, and document retention, all of which are vital for ensuring responsible governance and public trust.
Moreover, the absence of the nonprofit's tax form on its website could hinder transparency for potential donors and stakeholders. As it stands, the foundation's rating highlights the need for improvements in financial management and adherence to best practices in nonprofit governance to enhance its credibility and effectiveness within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn legitimate?
Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn 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: $0
For more financial information, click here
What is the mission statement of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn?
The Bayonne Community Foundation Inc, formerly known as Bayonne Chaptof Unico Natlfdn, is committed to raising funds for charitable, educational, and religious purposes. The primary objective of these funds is to support various scholarship programs, youth initiatives, and school music programs. In particular, the foundation proposes to offer college or private high school scholarships, with an average annual award of $2,000 per student. By doing so, the foundation aims to contribute to the educational and personal growth of young individuals in the community.
Who is the CEO of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn?
Michael Masone is the Pres./Trustee of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn.
What is the revenue of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn?
Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn's revenue in 2023 was $55,207.
Who are the executives of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn and what are their salaries?
There 10 volunteers at Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn?
Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn
Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn is a nonprofit organization dedicated to raising funds for charitable, educational, and religious purposes. Its mission is to allocate these funds towards various programs, with a significant focus on scholarship initiatives, youth programs, and school music programs. The foundation proposes to offer college or private high school scholarships, providing an average financial aid of $2,000 per year, per student. By doing so, Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn aims to support the educational aspirations of young individuals, enabling them to pursue their academic goals and contribute positively to their communities in the future.
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Impact
August, 2024
Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn's impact can be seen through its efforts to raise funds for charitable, educational, and religious purposes. Specifically, the organization focuses on providing scholarships for college or private high school students, with an average of $2,000 per year per student. This support aids in furthering the education and development of individuals in the community, particularly youth who benefit from the scholarship programs. Additionally, the organization's commitment to supporting school music programs enriches the cultural and educational experiences of students. Through its philanthropic endeavors, Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn positively impacts the community by investing in the future of its youth and promoting educational opportunities.
This information is meant to be a general summary of Bayonne Community Foundation Inc Fka Bayonne Chaptof Unico Natlfdn. 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 2023.
- Investment Income: $15,591
- Gross Receipts: $56,791
Assets and Liabilities:
- Total Assets: $686,788
- Total Liabilities: $28,000
- Net Assets: $658,788
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Organization Details
Founding Year
1998
Phone
(201) 339-0924Principal Officer
Michael Masone
Main Address
1083 AVENUE C POBOX 1465, BAYONNE, NJ, 07002
NTEE Category
Code: T122 - Philanthropy
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