Overview
What is Tory Burch Foundation Inc?
Tory Burch Foundation Inc, situated in New York City, is a nonprofit organization dedicated to empowering women and female entrepreneurs. They accomplish this objective by offering various programs, such as the Capital program, backed by Bank of America. This initiative provides affordable loans to women entrepreneurs operating in various industries through community development financial institutions situated within the United States. Additionally, the Women of Color Grant Program offers financial aid in the form of $10,000 and $20,000 grants to women of color-owned businesses, accompanied by education and community partnerships through the Fearless Fund. Furthermore, the Tory Burch Foundation collaborates with NEST to provide repayable grants to women artisans and makers in select cities across the U.S. Their mission is to empower women and women entrepreneurs by providing them with access to capital, education, and digital resources.
Official website here: www.toryburchfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star rating
The Tory Burch Foundation Inc has earned a high rating of 97% from Charity Navigator, which reflects its strong performance in accountability and finance metrics. This score is significant as it indicates the organization’s commitment to transparency, effective financial management, and responsible governance practices. The foundation excels particularly in areas such as having a fully independent board and a solid program expense ratio, demonstrating its dedication to its mission.
The foundation has received perfect scores in several key aspects, including the management of its finances and the implementation of important policies such as conflict of interest and whistleblower protections. Moreover, the organization has no record of asset diversions and maintains clear documentation of board meeting minutes, all of which contribute to its strong accountability framework.
One of the standout features of the Tory Burch Foundation is its impressive program expense ratio, which indicates that a significant portion of donations directly supports its programs. Additionally, the organization shows a strong fundraising efficiency, achieving a remarkable fundraising efficiency ratio of $0.00, meaning it effectively utilizes its resources without incurring fundraising costs. Overall, while the foundation exhibits robust practices, continuous efforts to maintain these standards will further enhance its impact and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Tory Burch Foundation Inc legitimate?
Tory Burch Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tory Burch Foundation 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: $31,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.toryburchfoundation.org
What is the mission statement of Tory Burch Foundation Inc?
The Tory Burch Foundation's mission is centered around empowering women and women entrepreneurs. They strive to achieve this by providing access to essential resources such as capital, education, and digital tools. This is accomplished through various programs, including the Capital Program powered by Bank of America, which offers affordable loans to women entrepreneurs in the United States. Additionally, the Women of Color Grant Program provides grants of $10,000 and $20,000 to women of color-owned businesses, alongside education and community support. Furthermore, the Foundation has a partnership with NEST, offering repayable grants to women artisans and makers in select cities in the U.S.
Official website here: www.toryburchfoundation.org
Who is the CEO of Tory Burch Foundation Inc?
Laurie Fabiano is the President of Tory Burch Foundation Inc.
Official website here: www.toryburchfoundation.org
What is the revenue of Tory Burch Foundation Inc?
Tory Burch Foundation Inc's revenue in 2022 was $6,323,516.
Official website here: www.toryburchfoundation.org
Who are the executives of Tory Burch Foundation Inc and what are their salaries?
There 118 volunteers at Tory Burch Foundation Inc.
Here are 15 key members and their salaries:
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- Compensation: $24,500
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Official website here: www.toryburchfoundation.org
Where can I find the form 990 for Tory Burch Foundation Inc?
Tory Burch Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.toryburchfoundation.org
Learn more at the official website: www.toryburchfoundation.org
Mission Statement of Tory Burch Foundation Inc
Tory Burch Foundation Inc is dedicated to empowering women and women entrepreneurs by providing them with essential resources. The organization's mission encompasses three key areas: access to capital, education, and digital resources. By offering these resources, Tory Burch Foundation Inc aims to support and uplift women entrepreneurs, enabling them to grow their businesses and make a significant impact in their respective industries.
The capital program, powered by Bank of America TBF, is a significant component of Tory Burch Foundation Inc's mission. This program offers affordable loans to women entrepreneurs operating early-stage ventures in various industries. Through community development financial institutions, these loans provide women with the necessary capital to start or expand their businesses.
In addition to financial support, Tory Burch Foundation Inc also offers educational opportunities and digital resources. The Women of Color Grant Program, in partnership with the Fearless Fund, provides grants of $10,000 and $20,000 to women of color-owned businesses. These businesses also gain access to education and community resources, further fostering their growth and success. Furthermore, Tory Burch Foundation Inc has partnered with NEST to offer repayable grants to women artisans and makers in select cities across the US. These grants not only provide financial assistance but also empower these women to create sustainable businesses and contribute to their communities.
In summary, Tory Burch Foundation Inc's mission is to empower women and women entrepreneurs by providing them with the necessary capital, education, and digital resources. Through programs like the capital program, the Women of Color Grant Program, and partnerships with organizations like NEST, Tory Burch Foundation Inc is committed to supporting women entrepreneurs and helping them achieve their business goals.
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Impact
October, 2024
Tory Burch Foundation Inc significantly impacts women's empowerment and entrepreneurship by facilitating access to capital, education, and digital resources. One of its key initiatives, the Capital Program powered by Bank of America, offers women entrepreneurs in the U.S. affordable loans through community development financial institutions. This initiative targets early-stage ventures across various industries, providing crucial financial support.
Additionally, the Women of Color Grant Program awards $10,000 and $20,000 grants to women of color-owned businesses, coupled with educational resources and community engagement through partnerships like the Fearless Fund. The foundation also collaborates with NEST to provide repayable grants to women artisans and makers in select U.S. cities, further enhancing economic opportunities for women in diverse sectors. Through these programs, the Tory Burch Foundation empowers women to pursue their entrepreneurial goals, fostering economic growth and community development.
This information is meant to be a general summary of Tory Burch Foundation 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: $43,495
- Gross Receipts: $6,421,028
Assets and Liabilities:
- Total Assets: $16,399,744
- Total Liabilities: $371,437
- Net Assets: $16,028,307
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Organization Details
Founding Year
2008
Phone
(646) 723-6689Principal Officer
Laurie Fabiano
Main Address
11 WEST 19TH STREET 7TH FL, NEW YORK, NY, 10011
Website
www.toryburchfoundation.orgNTEE Category
Code: P20 - Human services
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