Overview
What is Delaware Valley Legacy Fund?
The Delaware Valley Legacy Fund, established over three decades ago, is a philanthropic organization based in Philadelphia, Pennsylvania. Its primary goal is to support the LGBTQ community in the Philadelphia region. The organization achieves this by raising funds for a perpetual endowment, advocating for change, grantmaking, offering scholarships, organizing programs, and providing education. This year, Delaware Valley Legacy Fund significantly expanded its grantmaking efforts, providing more financial assistance and scholarships to further empower and enhance the lives of the LGBTQ community. Through its critical mission, the organization offers services to programs specifically designed for this community.
Official website here: www.dvlf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 78% (Three-Star out of Four Star rating)
The Delaware Valley Legacy Fund has received a Three-Star rating from Charity Navigator, reflecting its overall score of 78%. This score is entirely derived from its Accountability & Finance metrics, highlighting the organization's commitment to maintaining high standards in these areas. The rating indicates a reasonably solid performance but suggests there may be room for improvement, particularly in enhancing transparency measures.
The organization demonstrates strong governance with a fully independent board of directors, which is a positive aspect noted in the evaluation. Additionally, it has no material diversions of assets, and it maintains a low liability-to-assets ratio at 0.05%. The inclusion of policies for conflict of interest and proper documentation, such as meeting minutes, further strengthens its accountability.
However, some areas require attention, specifically the absence of a whistleblower policy and a document retention and destruction policy, which are currently missing. While the program expense ratio is solid at 65.63%, indicating that a substantial portion of its budget is directed toward its mission, addressing these gaps could enhance the organization's overall transparency and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Delaware Valley Legacy Fund legitimate?
Delaware Valley Legacy Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Delaware Valley Legacy 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.
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Official website here: www.dvlf.org
What is the mission statement of Delaware Valley Legacy Fund?
The Delaware Valley Legacy Fund, established nearly 30 years ago, has been dedicated to addressing the evolving needs of the LGBTQ community. Its primary objective is to raise funds for a permanent endowment, benefiting the community in the Philadelphia region. Annually, the organization fosters positive change through advocacy, grantmaking, scholarships, programming, and education. This year, the Delaware Valley Legacy Fund significantly increased its grantmaking, providing even more financial assistance and scholarships. By investing in community work, the fund empowers and enhances the lives of the LGBTQ community, providing essential services to programs that cater to their needs.
Official website here: www.dvlf.org
Who is the CEO of Delaware Valley Legacy Fund?
Michael Grosberg is the President of Delaware Valley Legacy Fund.
Official website here: www.dvlf.org
What is the revenue of Delaware Valley Legacy Fund?
Delaware Valley Legacy Fund's revenue in 2022 was $138,658.
Official website here: www.dvlf.org
Who are the executives of Delaware Valley Legacy Fund and what are their salaries?
There 100 volunteers at Delaware Valley Legacy Fund.
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Official website here: www.dvlf.org
Where can I find the form 990 for Delaware Valley Legacy Fund?
Delaware Valley Legacy Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dvlf.org
Learn more at the official website: www.dvlf.org
Mission Statement of Delaware Valley Legacy Fund
The Delaware Valley Legacy Fund, established over three decades ago, has dedicated its mission to addressing the evolving needs of the LGBTQ community in the Philadelphia region. The organization was founded with the purpose of raising funds for a permanent endowment, benefiting the local LGBTQ community. Every year, Delaware Valley Legacy Fund fosters positive change through various initiatives, including advocacy, grantmaking, scholarships, programming, and education. This year, the organization significantly increased its grantmaking, providing even more financial assistance to programs serving the LGBTQ community. By investing in community work, Delaware Valley Legacy Fund empowers and enhances the lives of the LGBTQ community, fulfilling its critical mission to serve programs that cater to this population.
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Impact
October, 2024
Delaware Valley Legacy Fund has had a profound impact on the LGBTQ community in the Philadelphia region over the past three decades. By focusing on advocacy, grantmaking, scholarships, programming, and education, DVLF actively addresses the emerging needs of this community.
Through a significant increase in grantmaking this year, DVLF has expanded its support, offering more grants and scholarships than ever before. This investment not only empowers individuals but also enhances the overall quality of life for the LGBTQ community. By raising funds for a permanent endowment, DVLF ensures a sustainable future for these initiatives, facilitating ongoing support for programs that directly serve the community.
The organization plays a crucial role in fostering positive change, creating opportunities for growth and development within the LGBTQ community, and promoting a more inclusive society.
This information is meant to be a general summary of Delaware Valley Legacy 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.
- Gross Receipts: $169,058
Assets and Liabilities:
- Total Assets: $1,028,924
- Total Liabilities: $20,803
- Net Assets: $1,008,121
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Organization Details
Founding Year
1993
Phone
(215) 563-6417Principal Officer
Michael Grosberg
Main Address
1835 MARKET STREET SUITE 2410, PHILADELPHIA, PA, 19103
Website
www.dvlf.orgNTEE Category
Code: T30 - Philanthropy
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