Overview
What is Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation?
Friends of The Spring Lake 5 is a New Jersey-based nonprofit organization, specifically located at 1011 Highway 71, Spring Lake. Established with a focus on promoting physical activities and community engagement, the organization primarily organizes and administers an annual footrace. This event serves as a platform to raise funds and support local charities, schools, youth groups, and recreational commissions, contributing to the public welfare. The nonprofit's mission is multifaceted, encompassing educational and charitable purposes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Friends Of The Spring Lake 5 has received an 82% rating from Charity Navigator, reflecting a strong performance in accountability and finance. This rating is significant as it indicates the organization operates with a high level of transparency and effectiveness in managing its financial resources, which is crucial for donor trust and engagement.
The organization boasts a fully independent board, which enhances its governance structure, and it has demonstrated excellent financial oversight, with no material diversions of assets reported. Furthermore, the charity has achieved a perfect program expense ratio, indicating that 100% of its expenses are directed towards its programs, reinforcing its commitment to its mission.
While the overall score is strong, it is important to note that the rating is based solely on the accountability and finance beacon, without metrics on other potential areas such as fundraising efficiency or impact. Nonetheless, the organization's financial health and governance practices are commendable and suggest a responsible stewardship of donor funds.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation legitimate?
Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation 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 Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation?
Friends of The Spring Lake 5, a New Jersey-based nonprofit organization, was established with educational and charitable purposes. Its primary objective is to organize and manage an annual footrace. This event serves multiple purposes, including stimulating an interest in running and other recreational activities. The organization also leverages this event to support local charities, schools, youth groups, and recreational commissions. By doing so, Friends of The Spring Lake 5 aims to contribute positively to the community and promote health and wellness.
Who is the CEO of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation?
Walter Craig is the Trustee of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation.
What is the revenue of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation?
Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation's revenue in 2022 was $699,188.
Who are the executives of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation and what are their salaries?
There 50 volunteers at Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation?
Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation
Friends of the Spring Lake 5, a New Jersey-based nonprofit organization, was established with educational and charitable purposes in mind. Their primary mission is to foster an interest in running and other recreational activities. To achieve this, they organize and manage an annual footrace. This event serves as a platform to promote their objectives, benefiting local charities, schools, youth groups, and recreational commissions. By participating in this race, they aim to contribute to the public welfare and foster a sense of community involvement and healthy living.
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Impact
July, 2024
The organization Friends Of the Spring Lake 5 has a significant impact on the community by promoting an interest in running and recreational activities through its annual foot race. It supports local charities, schools, youth groups, and recreational commissions, enhancing the well-being and engagement of individuals in Spring Lake, New Jersey.
This information is meant to be a general summary of Friends Of The Spring Lake 5 A New Jersey Nonprofit Corporation. 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: $23
- Program Service Revenue: $685,593
- Gross Receipts: $715,388
Assets and Liabilities:
- Total Assets: $67,673
- Total Liabilities: $9,200
- Net Assets: $58,473
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENTRANCE FEES
Revenue
$673,947
SPONSOR FEES
Revenue
$11,646
Organization Details
Founding Year
2001
Phone
(732) 974-5671Principal Officer
Walter Craig
Main Address
1011 HIGHWAY 71, SPRING LAKE, NJ, 07762
NTEE Category
Code: N115 - Recreation
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