Overview
What is Mabas Fund Inc?
Mabas Fund Inc is a charitable organization situated in Lakewood, New Jersey, with an address at 1126 Carolina Street. Its primary objective is to support and assist needy families in the local community. Additionally, the nonprofit is committed to promoting Talmudic studies by establishing an endowment fund. This endowment fund provides financial aid and grants to financially struggling students pursuing Talmudic studies. The organization's mission encompasses both community support and the advancement of Talmudic education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Mabas Fund Inc has received a two-star rating from Charity Navigator, indicating that while there are areas of strength, significant concerns remain. The organization's accountability and finance score is impressive at 100%, with a fully independent board. However, it struggles with financial statements and transparency, receiving a score of 0 out of 20, which raises questions about its financial practices and disclosures.
One of the notable strengths of Mabas Fund Inc is its high program expense ratio of 98.40%, indicating that the majority of its funds are directed towards its programs rather than administrative or fundraising costs. This suggests a strong commitment to fulfilling its mission. However, the fundraising efficiency ratio is concerning, with a score of $0.01, implying that the organization may be spending excessively to raise funds.
Additionally, the organization has room for improvement in its governance practices. It has been criticized for lacking an independent board size and not having its website listed on the tax form, which could hinder transparency. The absence of a whistleblower policy is another limitation that organizations often need to address to foster a culture of accountability and trust.
This AI summary has been generated from information found on Charity Navigator.
Is Mabas Fund Inc legitimate?
Mabas Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mabas Fund 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mabas Fund Inc?
Mabas Fund Inc's mission is centered around providing support to needy families within the community and advancing Talmudic studies. To fulfill this mission, the organization maintains an educational program that focuses on Talmudic studies. To further its goals, Mabas Fund Inc has established an endowment fund, which provides financial aid and grants to eligible students in need. This endowment fund is instrumental in assisting students who wish to pursue Talmudic studies, thereby contributing to the advancement of these studies. The organization's activities aim to improve the lives of needy families and foster the continued study and understanding of Talmudic teachings.
Who is the CEO of Mabas Fund Inc?
Yaakov Harari is the Officer of Mabas Fund Inc.
What is the revenue of Mabas Fund Inc?
Mabas Fund Inc's revenue in 2022 was $5,690,640.
Who are the executives of Mabas Fund Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mabas Fund Inc?
Mabas Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mabas Fund Inc
Mabas Fund Inc, a nonprofit organization, is dedicated to supporting needy families in the community and fostering the advancement of Talmudic studies. To achieve its mission, Mabas Fund Inc establishes an endowment fund, which provides grants and financial aid to deserving students. By doing so, the organization aims to assist those in need within the community and promote the study of Talmudic texts, a significant religious and scholarly tradition in Judaism. Mabas Fund Inc's activities contribute to the betterment of both individuals and the community, emphasizing the importance of education and compassion.
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Impact
October, 2024
Mabas Fund Inc significantly impacts the Lakewood, NJ community by providing essential support to needy families and promoting educational initiatives in Talmudic studies. By creating an endowment fund, Mabas Fund ensures financial assistance is available for families facing hardships, thereby enhancing their quality of life and stability. The organization also advances educational opportunities by offering grants and financial aid to students pursuing Talmudic studies, fostering a deeper understanding of these teachings and contributing to the cultural and intellectual growth of the community. Through these efforts, Mabas Fund not only alleviates immediate financial burdens but also invests in the long-term educational development of future generations.
This information is meant to be a general summary of Mabas Fund 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: $11
- Gross Receipts: $5,690,640
Assets and Liabilities:
- Total Assets: $888,666
- Total Liabilities: $337,931
- Net Assets: $550,735
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Organization Details
Founding Year
2001
Phone
(732) 961-1393Principal Officer
Yaakov Harari
Main Address
1126 CAROLINA STREET, LAKEWOOD, NJ, 08701
NTEE Category
Code: B82 - Education
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