Overview
What is Friends Of The Toras Chochom Institute Inc?
Friends of the Toras Chochom Institute Inc., based in Brooklyn, New York, is a nonprofit organization dedicated to promoting the study of Judaism. They achieve this by supporting the programs and activities of the Toras Chochom Institute in Israel. Their mission extends beyond financial aid, as they aim to aid, assist, and support Jewish charities in their endeavors. The organization's headquarters can be found at Joseph Lame 2411 Ave I, Brooklyn, NY 11210.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
Friends Of The Toras Chochom Institute Inc has been rated with a Two-Star rating from Charity Navigator, indicating areas that require improvement. The overall score of 69% reflects some strengths in governance, such as having a majority independent board and a solid liabilities to assets ratio, which suggests financial stability. However, the organization faces significant challenges in transparency and accountability, as indicated by its low scores in financial statements and the absence of key policies.
The organization has shown a commitment to accountability by having independent board members and maintaining documents for board meeting minutes. Nevertheless, it scored poorly in financial transparency, lacking posted financial statements on its website and failing to implement conflict of interest and whistleblower policies. These issues signal a need for the organization to strengthen its operational protocols to build trust with stakeholders and improve overall governance.
While the program expense ratio appears strong, indicating that a substantial portion of its budget goes directly to programs, the lack of comprehensive financial reporting undermines this positive aspect. Addressing these financial transparency issues could enhance Friends Of The Toras Chochom Institute Inc's credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Toras Chochom Institute Inc legitimate?
Friends Of The Toras Chochom Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Toras Chochom Institute 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
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What is the mission statement of Friends Of The Toras Chochom Institute Inc?
The mission of Friends Of The Toras Chochom Institute Inc is centered around promoting and advancing the study of Judaism. They accomplish this by providing support to the programs and activities of the Toras Chochom Institute in Israel. Additionally, they aim to aid, assist, and support Jewish charities in their initiatives. This organization's efforts are geared towards fostering the learning and understanding of Judaism, ultimately contributing to its ongoing development.
In more detail, Friends Of The Toras Chochom Institute Inc supports the Toras Chochom Institute by providing grants for its educational programs. Their mission also extends to helping Jewish charities carry out their work. They strive to contribute to the Jewish community by offering financial assistance and support. Overall, they are committed to the promotion and advancement of Judaism through various means.
Who is the CEO of Friends Of The Toras Chochom Institute Inc?
Joseph Lamet is the Treasurer of Friends Of The Toras Chochom Institute Inc.
What is the revenue of Friends Of The Toras Chochom Institute Inc?
Friends Of The Toras Chochom Institute Inc's revenue in 2023 was $584,304.
Who are the executives of Friends Of The Toras Chochom Institute Inc and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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- Compensation: $0
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- Other: $0
Where can I find the form 990 for Friends Of The Toras Chochom Institute Inc?
Friends Of The Toras Chochom Institute Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Friends Of The Toras Chochom Institute Inc
Friends of the Toras Chochom Institute Inc is an organization committed to promoting and fostering the study of Judaism. Their mission is to support the programs and activities of the Toras Chochom Institute in Israel. This nonprofit aims to aid, assist, and support Jewish charities in their works. In essence, Friends of the Toras Chochom Institute Inc seeks to promote and advance the study of Judaism through financial contributions to educational institutions and charitable organizations.
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Impact
July, 2024
Friends Of The Toras Chochom Institute Inc has a direct impact on promoting the study of Judaism through the support of programs and activities at the Toras Chochom Institute in Israel. By granting funds to yeshivas and charities like the Zohar Charity, this organization plays a crucial role in fostering the advancement of Jewish studies. Additionally, their mission to aid and support Jewish charities in their work demonstrates a commitment to strengthening Jewish communities and facilitating religious education.
This information is meant to be a general summary of Friends Of The Toras Chochom Institute 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 2023.
- Gross Receipts: $584,304
Assets and Liabilities:
- Total Assets: $5,652
- Total Liabilities: $0
- Net Assets: $5,652
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Organization Details
Founding Year
2008
Phone
(718) 854-1096Principal Officer
Joseph Lamet
Main Address
JOSEPH LAMET 2411 AVE I, BROOKLYN, NY, 11210
NTEE Category
Code: X12 - Religion related
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