Overview
What is Tov Vchesed Foundation Inc?
The Tov Vchesed Foundation Inc is a charitable organization based in Monsey, New York, with a post office box address at PO BOX 855, ZIP code 10952. Their primary mission is to support other charitable organizations that provide monetary aid to financially disadvantaged individuals. With a modest workforce of eight dedicated employees, the foundation contributes significantly to the cause. Their purpose is to make a difference in people's lives by empowering other charitable organizations to offer essential financial assistance.
Official website here: www.tovvchesed.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (55%)
The Tov Vchesed Foundation Inc has received a low rating of 55% from Charity Navigator, indicating significant concerns regarding its financial accountability and overall governance. The charity has a perfect score for having a majority of independent board members, but its lack of an independent board size raises potential issues regarding oversight. Furthermore, the financial statements audit score is notably low, which may cast doubt on the integrity of its financial reporting.
Despite some strengths in areas like program expense ratio and fundraising efficiency, the organization struggles with key financial ratios, particularly the liabilities to assets and working capital ratios, both of which received zero points. This suggests a concerning financial position that could affect its ability to sustain operations and fulfill its mission in the long term.
Additionally, the foundation has several missing policies, such as a whistleblower policy and document retention protocols, which are critical for transparency and accountability. While it maintains a presence on its tax form and documents board meeting minutes, the overall governance and financial management practices require significant improvement to enhance trust among stakeholders and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Tov Vchesed Foundation Inc legitimate?
Tov Vchesed Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tov Vchesed 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $156,773
For more financial information, click here
Official website here: www.tovvchesed.com
What is the mission statement of Tov Vchesed Foundation Inc?
The Tov Vchesed Foundation Inc is dedicated to supporting charitable organizations that offer financial aid to those in need. Their mission is geared towards assisting indigent individuals through the initiatives of these charitable entities. By providing financial assistance, these organizations play a crucial role in alleviating the financial burdens faced by many, thereby contributing to their overall well-being. The Foundation's focus on charitable organizations that prioritize financial assistance to indigent individuals allows it to make a significant impact in the lives of those who need it most. Their unwavering commitment to this cause ensures that support continues to reach those in need, offering them a vital lifeline during challenging times.
Official website here: www.tovvchesed.com
Who is the CEO of Tov Vchesed Foundation Inc?
Meyer Jacobowitz is the President of Tov Vchesed Foundation Inc.
Official website here: www.tovvchesed.com
What is the revenue of Tov Vchesed Foundation Inc?
Tov Vchesed Foundation Inc's revenue in 2022 was $14,311,647.
Official website here: www.tovvchesed.com
Who are the executives of Tov Vchesed Foundation Inc and what are their salaries?
The average compensation at Tov Vchesed Foundation Inc during 2022 was $19,597. There are 8 employees and 4 volunteers at Tov Vchesed Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.tovvchesed.com
Where can I find the form 990 for Tov Vchesed Foundation Inc?
Tov Vchesed Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tovvchesed.com
Learn more at the official website: www.tovvchesed.com
Mission Statement of Tov Vchesed Foundation Inc
Tov Vchesed Foundation Inc, a charitable organization, is dedicated to supporting other nonprofits in their mission to provide financial assistance to indigent individuals. By lending a helping hand to these organizations, Tov Vchesed Foundation plays a crucial role in making a difference in the lives of those in need.
The foundation's unwavering commitment to charitable work is evident in its mission. Tov Vchesed Foundation Inc focuses on partnering with nonprofit organizations that offer vital financial assistance to individuals who are indigent. By doing so, it extends its reach to a broader audience, amplifying the impact of the supported organizations and ultimately, improving the lives of those they serve.
In essence, Tov Vchesed Foundation Inc acts as a catalyst, facilitating meaningful change and offering hope to those who are struggling financially. By empowering other nonprofits through its support, it enables them to continue their essential work and provide necessary aid to those in need. Together, Tov Vchesed Foundation and its partner organizations form a powerful alliance, working tirelessly to improve the lives of indigent individuals.
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Impact
October, 2024
Tov Vchesed Foundation Inc significantly impacts communities by providing essential support to organizations that offer financial assistance to individuals in need. Based in Monsey, NY, the foundation focuses on alleviating the hardships faced by indigent individuals, enabling them to access vital resources and services that contribute to their well-being.
By channeling resources toward charitable organizations dedicated to helping the less fortunate, Tov Vchesed Foundation fosters a culture of compassion and community support. Their efforts not only address immediate financial challenges but also promote long-term stability and self-sufficiency for those they assist. With a mission aimed at enhancing the lives of vulnerable populations, Tov Vchesed Foundation plays a crucial role in creating a more equitable society, both locally and on an international scale.
This information is meant to be a general summary of Tov Vchesed 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.
- Gross Receipts: $14,311,647
Assets and Liabilities:
- Total Assets: $490,112
- Total Liabilities: $3,417,146
- Net Assets: -$2,927,034
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Organization Details
Founding Year
2011
Phone
(845) 517-0656Principal Officer
Meyer Jacobowitz
Main Address
PO BOX 855, MONSEY, NY, 10952
Website
www.tovvchesed.comNTEE Category
Code: Q33 - International
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