Overview
What is 5050 Women On Boards Inc?
5050 Women On Boards Inc is a nonprofit organization based in Los Angeles, California, with a mission to promote gender balance and diversity on boards of Russell 3000 Index Companies. They aim to have women hold 50% of the board seats and women of color holding at least 20%. In 2022, they organized various virtual and city conversations to further this cause. These events were primarily funded by individual attendees and corporations purchasing sponsorships, with proceeds being retained by the organization. The events featured speakers discussing themes related to the organization's mission and offered sponsorship packages with benefits ranging from online and social media recognition to acknowledgment at the events. The organization is led by a volunteer chair or co-chair and operates with a team of seven employees.
Official website here: www.5050wob.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating.
5050 Women On Boards Inc has demonstrated exceptional financial health and operational effectiveness, highlighted by an overall score of 90%. The organization excels in leadership and adaptability, receiving a perfect score in that category. Their strong accountability and community engagement reflect a commitment to their mission of increasing gender diversity on corporate boards, as evidenced by their high scores in program expense ratio and independent board member policies.
Despite its strengths, there are areas for improvement, particularly in governance policies. The absence of a whistleblower and document retention policy indicates potential weaknesses in risk management and transparency. However, the organization has robust practices for collecting and utilizing feedback, further showcasing its commitment to continuous improvement and stakeholder engagement.
Overall, 5050 Women On Boards Inc stands out for its effective leadership and dedication to its mission, though addressing governance policy gaps could enhance its accountability practices further. The charity's low liabilities relative to assets further solidifies its financial stability and capacity for growth in its initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is 5050 Women On Boards Inc legitimate?
5050 Women On Boards Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 5050 Women On Boards 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: $543,709
Professional Fundraising Fees: $1,500
Other Salaries and Wages: $201,087
For more financial information, click here
Official website here: www.5050wob.com
What is the mission statement of 5050 Women On Boards Inc?
5050 Women On Boards Inc is committed to promoting gender balance and diversity on the boards of Russell 3000 Index companies. Their goal is to have women occupy 50% of the board seats and women of color holding at least 20% of the seats. This organization aims to accelerate this transformation, contributing to more inclusive and equitable decision-making processes in corporate governance. The activities of 5050 Women On Boards Inc involve organizing and hosting virtual and city discussions on board diversity, with attendees paying for entry and corporations purchasing sponsorships for additional benefits. All proceeds from these events support the organization's mission.
Official website here: www.5050wob.com
Who is the CEO of 5050 Women On Boards Inc?
Betsy Berkhemer-Credaire is the Treasurer of 5050 Women On Boards Inc. The CEO's salary of 5050 Women On Boards Inc is $201,000 and their total compensation is $207,030.
Official website here: www.5050wob.com
What is the revenue of 5050 Women On Boards Inc?
5050 Women On Boards Inc's revenue in 2022 was $1,033,054.
Official website here: www.5050wob.com
Who are the executives of 5050 Women On Boards Inc and what are their salaries?
The average compensation at 5050 Women On Boards Inc during 2022 was $106,399. There are 7 employees and 436 volunteers at 5050 Women On Boards Inc.
Here are 14 key members and their salaries (5050 Women On Boards Inc's CEO's salary is $201,000 and their total compensation is $207,030):
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- Compensation: $201,000
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- Compensation: $241,000
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- Compensation: $121,000
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- Other: $3,630
Official website here: www.5050wob.com
Where can I find the form 990 for 5050 Women On Boards Inc?
5050 Women On Boards Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.5050wob.com
Learn more at the official website: www.5050wob.com
Mission Statement of 5050 Women On Boards Inc
5050 Women On Boards Inc is dedicated to promoting gender balance and diversity on the boards of Russell 3000 Index companies. Their commitment is to have women occupy 50% of the board seats, and women of color holding at least 20% of the board seats. This organization aims to foster an environment where gender and racial diversity are valued and integrated into corporate decision-making processes. By achieving this goal, they believe that companies will be better positioned to succeed in today's diverse and globalized world. The organization's mission is not just about numbers; it's about creating a more inclusive and equitable business landscape where every voice matters.
Throughout the year, 5050 Women On Boards Inc organizes events to discuss and promote their mission. These events, which are a mix of virtual and in-person conversations, are led by volunteer chairs or co-chairs. The organization enters into agreements with these volunteers for event planning and fundraising, but all expenses and proceeds remain with the organization. The events, which are centered around themes related to gender balance and diversity, attract individual attendees who pay for entry and corporations that purchase sponsorships. The sponsorship packages offer a variety of benefits, including online and event recognition, depending on the package selected. All proceeds from these events are considered unlimited, providing the organization with the necessary funds to continue its mission.
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Impact
October, 2024
5050 Women On Boards Inc. drives significant change by advocating for gender balance and diversity on the boards of Russell 3000 Index companies, aiming for women to hold 50% of board seats and women of color to occupy at least 20%. Their efforts have helped to elevate the conversation around board diversity, fostering a national dialogue that empowers stakeholders to prioritize inclusive leadership.
In 2022 alone, the organization hosted five virtual and 18 local city conversations, engaging communities and mobilizing discussions centered on their mission. These events are run by dedicated volunteers, emphasizing grassroots involvement and the collective effort needed to push for equality in corporate governance. By incorporating speakers and panels, these gatherings serve as platforms for sharing insights and showcasing the importance of diverse perspectives in decision-making processes.
Additionally, 5050 Women On Boards leverages corporate sponsorships to enhance these initiatives, allowing businesses to visibly support the mission while engaging in meaningful discussions about diversity. The sponsorships range from localized events to broader initiatives, signifying a commitment to the cause from various sectors.
Through these multifaceted strategies, 5050 Women On Boards Inc. not only raises awareness but also fosters actionable change, influencing companies to adopt more equitable practices and paving the way for a future where corporate leadership reflects the diversity of the society it serves.
This information is meant to be a general summary of 5050 Women On Boards 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: $439
- Program Service Revenue: $122,653
- Gross Receipts: $1,513,237
Assets and Liabilities:
- Total Assets: $1,883,985
- Total Liabilities: $120,893
- Net Assets: $1,763,092
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WORKSHOP TUITION
Revenue
$120,749
NETWORKING HUB
Revenue
$1,904
Organization Details
Founding Year
2010
Phone
(323) 416-2020Principal Officer
Betsy Berkhemer-Credaire
Main Address
PO BOX 861958, LOS ANGELES, CA, 90086
Website
www.5050wob.comNTEE Category
Code: R24 - Civil rights
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