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Friends Of Musique & Vin Au Clos Vougeot Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 301145076 ✦ New york, NY ✦ Designated as a 501(c)(3)

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Overview

What is Friends Of Musique & Vin Au Clos Vougeot Inc?

Friends of Musique & Vin Au Clos Vougeot Inc is a nonprofit organization located in New York, specifically at 387 Park Avenue South, New York, NY 10016. The primary aim of this organization is to provide financial support to Musique et Vin Au Clos Vougeot, a French nonprofit entity. This French organization provides study grants to young musicians pursuing higher education or comparable programs, assisting in the launch of their careers. Additionally, Friends of Musique & Vin Au Clos Vougeot Inc operates an "Instrumental Fund," which lends custom musical instruments to young musicians who lack access to quality instruments. The organization also engages in various charitable, religious, educational, literary, and scientific activities.


Official website here: www.fomv.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: Zero-Star out of Four Star rating (44%)

Friends Of Musique & Vin Au Clos Vougeot Inc has received a zero-star rating due to significant concerns in its accountability and financial practices. While the organization boasts a fully independent board and maintains a good review of financial statements, it falls short in several critical areas that impact its overall financial health and transparency.

The organization has not established key policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which are crucial for maintaining ethical operations. Additionally, it has not publicly posted its tax forms on its website, further raising transparency issues. The program expense ratio is notably low at just 6.43%, indicating that a minimal portion of its expenses is directed towards its programs, which could be concerning for potential donors.

Despite having a clean record with no material diversion of assets and a strong independent board structure, the lack of essential policies and low program expense ratio highlights significant areas that require improvement. Donors and stakeholders may want to consider these factors when evaluating the organization's effectiveness and commitment to its mission.


This AI summary has been generated from information found on Charity Navigator.

Is Friends Of Musique & Vin Au Clos Vougeot Inc legitimate?

Friends Of Musique & Vin Au Clos Vougeot Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Musique & Vin Au Clos Vougeot 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: $0

For more financial information, click here


Official website here: www.fomv.org

What is the mission statement of Friends Of Musique & Vin Au Clos Vougeot Inc?

Friends of Musique & Vin Au Clos Vougeot Inc's mission is centered around providing support to Musique et Vin Au Clos Vougeot, a French non-profit organization. This support includes offering study grants to young musicians pursuing higher education and comparable programs to aid in their career launches. Additionally, they operate an "Instrumental Fund," which lends custom musical instruments to talented musicians lacking access to quality ones. Beyond these activities, Friends of Musique & Vin Au Clos Vougeot Inc engages in various charitable, religious, educational, literary, and scientific endeavors.


Official website here: www.fomv.org

Who is the CEO of Friends Of Musique & Vin Au Clos Vougeot Inc?

Craig Stapleton is the President of Friends Of Musique & Vin Au Clos Vougeot Inc.


Official website here: www.fomv.org

What is the revenue of Friends Of Musique & Vin Au Clos Vougeot Inc?

Friends Of Musique & Vin Au Clos Vougeot Inc's revenue in 2022 was $998,327.


Official website here: www.fomv.org

Who are the executives of Friends Of Musique & Vin Au Clos Vougeot Inc and what are their salaries?


Here are 6 key members and their salaries:


Bernard Hervet (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Arvind Sodhani (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Douglas Barzelay (Vice Preside)
  • Compensation: $0
  • Related: $0
  • Other: $0
James Finkel (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Daniel Pacthod (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Craig Stapleton (President)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.fomv.org

Where can I find the form 990 for Friends Of Musique & Vin Au Clos Vougeot Inc?

Friends Of Musique & Vin Au Clos Vougeot Inc's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.fomv.org

Learn more at the official website: www.fomv.org

Mission Statement of Friends Of Musique & Vin Au Clos Vougeot Inc

Friends of Musique & Vin Au Clos Vougeot Inc, as a charitable organization, fulfills its mission by providing grants to Musique et Vin Au Clos Vougeot, a French non-profit entity. This grant funding supports Musique et Vin Au Clos Vougeot's initiatives, which include offering study grants to young musicians pursuing higher education and comparable programs. The primary goal is to assist these musicians in launching their careers.

In addition to financial support, Friends of Musique & Vin Au Clos Vougeot Inc runs an "Instrumental Fund." This fund lends custom musical instruments to young musicians who lack access to quality instruments. By providing these instruments, the organization enables these budding musicians to hone their skills, ultimately contributing to the growth of the musical community.

Beyond these specific initiatives, Friends of Musique & Vin Au Clos Vougeot Inc also engages in various charitable, religious, educational, literary, and scientific activities. This broad scope allows the organization to make a significant impact in various spheres, ensuring the continued growth and development of the artistic and intellectual community.

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Impact




October, 2024

Friends Of Musique & Vin Au Clos Vougeot Inc significantly contributes to the development of young musicians by providing essential financial support through grants. This organization helps facilitate study grants for emerging artists enrolled in higher education music programs, ensuring that they have the resources required to launch their careers successfully.

Moreover, the organization operates an "Instrumental Fund" that lends high-quality, custom musical instruments to those who lack access to such resources. This initiative is crucial in democratizing access to quality musical education and performance, enabling talented individuals to pursue their craft without the burden of financial limitations.

In addition to its focus on music education, Friends Of Musique & Vin Au Clos Vougeot Inc engages in various charitable, educational, literary, and scientific activities, reflecting a broader commitment to the arts and community development. Through these efforts, it plays a vital role in enriching the cultural landscape and fostering the next generation of musicians, ultimately creating a more vibrant and diverse artistic community.




This information is meant to be a general summary of Friends Of Musique & Vin Au Clos Vougeot 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.

Revenue
$998,327 (2022)
Expenses
$244,492 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $3,667
  • Gross Receipts: $998,327

Assets and Liabilities:

  • Total Assets: $934,912
  • Total Liabilities: $0
  • Net Assets: $934,912

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Organization Details

Founding Year

2018

Principal Officer

Craig Stapleton

Main Address

387 PARK AVENUE SOUTH, NEW YORK, NY, 10016

NTEE Category

Code: A68 - Arts

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