Overview
What is Portfolios With Purpose Inc?
Portfolios With Purpose Inc is a charitable organization based in New York City, specifically at 250 WEST 55TH STREET 37 FL. Established with the mission to foster philanthropy within the investment community, its primary objectives are encouraging charitable contributions from individuals who might not otherwise donate, offering opportunities for learning about various supported charities, and providing access to mentoring in the realm of philanthropy. They achieve these goals through their annual "Classic Challenge," a competition where participants represent their chosen charities. The competition, which involves approximately 500 participants in 2020, generates revenue, with 100% of proceeds being donated to the winners' chosen charities once the competition year concludes.
Official website here: www.portfolioswithpurpose.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
Portfolios With Purpose Inc has achieved a 77% score from Charity Navigator, indicating a solid performance in accountability and finance. The rating is derived entirely from this single beacon, with the organization demonstrating strong governance through an entirely independent board and well-documented policies concerning conflict of interest and whistleblowing. Furthermore, the organization has maintained transparency by listing its website on its tax form and providing access to board meeting minutes.
The organization excels in key areas, such as having no material diversion of assets, which reinforces its commitment to financial integrity. It also scores well in its program expense ratio, with 66.26% of expenses directed towards its programs. This is a positive indicator of the nonprofit's focus on its mission and effective use of resources.
However, a notable limitation is the high liabilities to assets ratio of 82.51%, which raises concerns about financial health and sustainability. While the organization shows strong practices in governance and accountability, potential donors and supporters may want to consider this aspect when evaluating its overall financial stability.
This AI summary has been generated from information found on Charity Navigator.
Is Portfolios With Purpose Inc legitimate?
Portfolios With Purpose Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Portfolios With Purpose 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:
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For more financial information, click here
Official website here: www.portfolioswithpurpose.org
What is the mission statement of Portfolios With Purpose Inc?
Portfolios With Purpose Inc was established with the mission to encourage giving among members of the investment community. The organization aims to inspire individuals who might not normally contribute to charity to do so, providing opportunities for individuals to learn about charities supported by their peers, acquaintances, and role models. Additionally, Portfolios With Purpose Inc offers and provides access to mentoring in the ways of philanthropy. The primary activity of this organization is the annual Stock Selection "Classic Challenge," where approximately 500 participants compete on behalf of their chosen charities. The revenue raised during this competition is given entirely to the winners' chosen charities after the completion of the competition year.
Official website here: www.portfolioswithpurpose.org
Who is the CEO of Portfolios With Purpose Inc?
Brett Waikart is the Executive Director of Portfolios With Purpose Inc.
Official website here: www.portfolioswithpurpose.org
What is the revenue of Portfolios With Purpose Inc?
Portfolios With Purpose Inc's revenue in 2022 was $57,419.
Official website here: www.portfolioswithpurpose.org
Who are the executives of Portfolios With Purpose Inc and what are their salaries?
Here are 6 key members and their salaries:
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Official website here: www.portfolioswithpurpose.org
Where can I find the form 990 for Portfolios With Purpose Inc?
Portfolios With Purpose Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.portfolioswithpurpose.org
Learn more at the official website: www.portfolioswithpurpose.org
Mission Statement of Portfolios With Purpose Inc
Portfolios With Purpose Inc was established with a mission to encourage charitable contributions among members of the investment community. Recognizing that some individuals may not otherwise engage in charitable giving, the organization aims to provide a platform for learning about various charities supported by peers, acquaintances, and role models. Moreover, Portfolios With Purpose Inc offers access to mentoring in the realm of philanthropy, enabling individuals to develop their own giving strategies and make informed decisions about their charitable contributions.
In essence, Portfolios With Purpose Inc serves as a catalyst for charitable giving, fostering a sense of community and shared purpose among its members. By promoting the importance of philanthropy and offering opportunities to learn about and engage with various charities, the organization empowers individuals to contribute to causes they care about, thereby making a positive impact in the world. Through events such as the Classic Challenge, where participants compete on behalf of their chosen charities, Portfolios With Purpose Inc raises funds and supports a wide range of causes, ultimately reinforcing its mission to promote giving and make philanthropy accessible to all.
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Impact
August, 2024
Portfolios With Purpose Inc's impact can be seen in its efforts to promote giving within the investment community. By organizing competitions like the "Classic Challenge" where participants compete on behalf of their chosen charities, the organization encourages individuals to contribute to charitable causes. Through this initiative, approximately 500 participants are given the opportunity to support charities and learn about the causes championed by their peers, acquaintances, and role models. Additionally, Portfolios With Purpose provides mentoring in the ways of philanthropy, offering guidance and support to those looking to make a difference through charitable giving.
This information is meant to be a general summary of Portfolios With Purpose 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: $57,419
Assets and Liabilities:
- Total Assets: $37,994
- Total Liabilities: $31,350
- Net Assets: $6,644
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Organization Details
Founding Year
2012
Phone
(301) 219-4191Principal Officer
Brett Waikart
Main Address
250 WEST 55TH STREET 37 FL, NEW YORK, NY, 10019
NTEE Category
Code: T12 - Philanthropy
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