Yarnwire Inc

Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, Score: 73%)

Yarnwire Inc has received a Two-Star rating from Charity Navigator, indicating that while it meets some standards of accountability and finance, there are critical areas in need of improvement. The organization boasts a strong governance structure with a fully independent board and no material diversion of assets. Additionally, it demonstrates a solid program expense ratio, allocating approximately 77.69% of its budget towards its programs.

Despite these strengths, Yarnwire Inc faces significant challenges in financial transparency and governance policies. The organization has not made its financial statements or tax forms publicly available, which contributed to its low scores in these categories. Furthermore, it lacks essential policies such as a whistleblower policy and a document retention policy, which are important for fostering accountability and transparency.

Overall, while Yarnwire Inc shows promise with its dedicated board and effective program spending, its lack of accessible financial documents and vital governance policies raise concerns that could affect stakeholder trust and engagement. Addressing these issues could help improve its rating and overall effectiveness as a nonprofit organization.

This AI summary has been generated from information found on Charity Navigator.

Yarnwire Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Yarnwire 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: $35,129
Professional Fundraising Fees: $0
Other Salaries and Wages: $173,421

For more financial information, click here

Official website here: www.yarnwire.org