Overview
What is Friends Of Malta House?
Friends of Malta House is a supporting organization, established to foster and strengthen Malta House Inc.'s mission. Based in Norwalk, Connecticut, the organization manages funds in trust and invests them with the aim of achieving long-term growth and providing annual income to support Malta House Inc.'s operations. The funds raised and managed by Friends of Malta House are utilized to fund capital improvements and other expenditures related to Malta House Inc., contributing an annual total of 88,827 dollars toward its operations in the year under review.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
Friends Of Malta House has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and transparency. With an impressive score of 94%, the organization demonstrates effective financial practices, which is crucial for fostering trust among donors and stakeholders.
The charity excels in governance, boasting a fully independent board with no material diversion of assets and robust conflict of interest policies. These aspects contribute to its high accountability score, indicating that Friends Of Malta House effectively safeguards its resources and operates with integrity. Additionally, the organization allocates a significant portion of its expenses (79.55%) directly to its programs, highlighting its focus on mission-driven activities.
While the overall ratings are commendable, it is essential to continue monitoring the organization's performance to ensure it maintains these high standards. Transparency and ethical governance are critical for sustaining donor confidence and maximizing impact in the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Malta House legitimate?
Friends Of Malta House is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Malta House 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Friends Of Malta House?
Friends of Malta House is an organization established to support Malta House Inc. Their primary role is to raise, manage, and disburse funds for Malta House Inc., and fund related capital improvements and expenditures. The goal is to foster and advance Malta House Inc.'s mission. In line with this mission, Friends of Malta House set an investment policy for the funds held in trust, selected an investment advisory firm, and managed the invested funds to achieve long-term growth and provide annual income to support Malta House Inc. operations. During the year, Friends of Malta House provided 88,827 to support Malta House Inc.'s operations.
Who is the CEO of Friends Of Malta House?
Daniel Krenicki is the Trustee of Friends Of Malta House.
What is the revenue of Friends Of Malta House?
Friends Of Malta House's revenue in 2023 was -$20,051.
Who are the executives of Friends Of Malta House and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Friends Of Malta House?
Friends Of Malta House's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Friends Of Malta House
Friends of Malta House is an organization dedicated to supporting and enhancing the mission of Malta House Inc. Established with the purpose of raising, managing, and dispensing funds for Malta House Inc., this supportive entity also funds related capital improvements and expenditures. The primary goal of Friends of Malta House is to foster and advance the mission of Malta House Inc. by establishing an investment policy for the funds held in trust, selecting and overseeing an investment advisory firm, and managing the invested funds to achieve long-term growth and provide annual income to support Malta House Inc.'s operations. In the year under consideration, Friends of Malta House provided 88,827 to support Malta House Inc.'s operations.
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Impact
October, 2024
Friends Of Malta House significantly enhances the operations and impact of Malta House Inc. by raising, managing, and distributing funds specifically aimed at advancing its mission. Through careful investment strategies, the organization not only seeks long-term growth but also ensures a steady annual income that directly supports the essential services offered by Malta House.
In the past year alone, Friends Of Malta House contributed $88,827 towards Malta House operations, demonstrating a tangible commitment to fostering community support and ensuring the sustainability of essential resources. By setting investment policies and overseeing investment advisory services, Friends Of Malta House plays a crucial role in securing financial stability. This support allows Malta House to focus on delivering vital services to its constituents, ultimately fostering a healthier and more supportive community environment.
This information is meant to be a general summary of Friends Of Malta House. 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.
- Investment Income: -$20,051
- Gross Receipts: $1,153,819
Assets and Liabilities:
- Total Assets: $1,657,783
- Total Liabilities: $400,990
- Net Assets: $1,256,793
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Organization Details
Founding Year
2008
Phone
(203) 857-0088Principal Officer
Daniel Krenicki
Main Address
139 WEST ROCKS ROAD, NORWALK, CT, 06851
NTEE Category
Code: T12 - Philanthropy
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