Overview
What is Fortune Fund Ltd?
Fortune Fund Ltd is a nonprofit organization situated in Chesterfield, Missouri, specifically at 1019 Polo Downs Drive. Their primary mission is to uplift less fortunate individuals by providing educational resources through voluntary donations, which are then matched by S2Tech. Currently, they are supporting 123 students from 7th grade to undergraduate programs, selected based on their merit in class and their family's financial situation.
Official website here: www.fortunefund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating
Fortune Fund Ltd has received a commendable rating of 83%, signifying a solid performance in accountability and finance. This rating reflects the charity's commitment to transparency and responsible financial management. The score is derived entirely from their Accountability & Finance metrics, indicating that their operations are well-aligned with best practices in these areas.
The organization excels in several key aspects, including having a fully independent board comprised of three members, with no material diversion of assets reported. They maintain strong policies for conflict of interest and have documented board meeting minutes available, emphasizing their commitment to governance. Additionally, they report 100% of expenses going directly to program-related activities, showcasing a strong focus on their mission.
However, there are noted limitations, including missing policies for whistleblowing and document retention. While these factors did not significantly impact their overall score, addressing these gaps could enhance their governance framework. Overall, Fortune Fund Ltd demonstrates a robust accountability structure, though there is room for improvement in some administrative policies.
This AI summary has been generated from information found on Charity Navigator.
Is Fortune Fund Ltd legitimate?
Fortune Fund Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fortune Fund Ltd 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
For more financial information, click here
Official website here: www.fortunefund.org
What is the mission statement of Fortune Fund Ltd?
Fortune Fund Ltd's mission is centered around uplifting less fortunate individuals by providing them with educational resources. This is achieved through voluntary donations, which are then matched by S2Tech. The organization's primary goal is to support students in need, selecting them based on their merit ranking in class and the financial status of their families. Currently, Fortune Fund Ltd is aiding a total of 123 students, ranging from 7th grade to undergraduate programs. The organization's activities aim to provide these students with the necessary educational resources, thereby empowering them to overcome their financial constraints and pursue their academic goals.
Official website here: www.fortunefund.org
Who is the CEO of Fortune Fund Ltd?
Day Veerlapati is the Principal Officer of Fortune Fund Ltd. The CEO's salary of Fortune Fund Ltd is $0 and their total compensation is $0.
Official website here: www.fortunefund.org
What is the revenue of Fortune Fund Ltd?
Fortune Fund Ltd's revenue in 2022 was -$41,945.
Official website here: www.fortunefund.org
Who are the executives of Fortune Fund Ltd and what are their salaries?
Here are 3 key members and their salaries (Fortune Fund Ltd's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fortunefund.org
Where can I find the form 990 for Fortune Fund Ltd?
Fortune Fund Ltd's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fortunefund.org
Learn more at the official website: www.fortunefund.org
Mission Statement of Fortune Fund Ltd
Fortune Fund Ltd, a nonprofit organization, is committed to uplifting less fortunate individuals by providing educational resources. They accomplish this through voluntary donations that are matched by S2Tech. The mission of Fortune Fund Ltd is to empower students from financially struggling families by providing them with the necessary educational resources. The organization selects its beneficiaries based on their merit ranking in their respective classes and their family's financial situation. Currently, Fortune Fund Ltd is supporting a total of 123 students, ranging from the 7th grade to undergraduate programs, demonstrating their widespread commitment to educational equity.
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Impact
October, 2024
Fortune Fund Ltd significantly impacts the lives of less fortunate students by providing essential educational resources. Through voluntary donations matched by S2TECH, the program currently supports 123 students, ranging from 7th grade to undergraduate programs. These students are selected based on merit and financial need, ensuring that support goes to those who truly require it.
In Chesterfield, MO, Fortune Fund Ltd addresses educational disparities and cultivates a brighter future for its beneficiaries. By focusing on merit-based selection, the program not only aids students academically but also promotes a culture of hard work and ambition, inspiring them to achieve their full potential. The collaborative effort with S2TECH amplifies the impact of donations, enabling a more robust support system for these students, who are positioned to make meaningful contributions to their communities and beyond.
This information is meant to be a general summary of Fortune Fund Ltd. 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: -$90,825
- Gross Receipts: $97,346
Assets and Liabilities:
- Total Assets: $352,933
- Total Liabilities: $0
- Net Assets: $352,933
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Organization Details
Founding Year
2010
Phone
(636) 530-9286Principal Officer
Day Veerlapati
Main Address
1019 POLO DOWNS DRIVE, CHESTERFIELD, MO, 63017
Website
www.fortunefund.orgNTEE Category
Code: Q33 - International
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