Overview
What is Institute For Financial Awareness Inc?
Institute for Financial Awareness Inc, located in Gaithersburg, Maryland, is a nonprofit organization with a mission to educate employees of various organizations about financial challenges they may encounter in their personal lives. They offer free resources to help individuals navigate these pitfalls, ultimately aiming to enhance their financial literacy and stability. The organization's activities encompass providing financial educational resources to the public, empowering individuals to make informed financial decisions and improve their overall financial fitness.
Official website here: www.ifaonline.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. The Institute For Financial Awareness has received a Two-Star rating primarily due to its Accountability & Finance score of 73%. The organization has strengths in areas such as having a majority of independent board members and no material diversion of assets. However, it faces limitations, including missing policies on whistleblower protection and document retention, as well as not posting its tax form on its website, which affects its overall transparency.
User feedback from Great Nonprofits highlights a positive perception of the organization’s services, with multiple clients rating it five stars. Reviewers praise the knowledgeable and friendly staff, specifically mentioning the impact of their financial advisors in educating clients about federal benefits and retirement planning. These testimonials reflect the commitment of the nonprofit to empower individuals with financial knowledge and trust.
Despite the positive reviews from clients, the organization's rating indicates room for improvement in governance and operational transparency. Addressing areas such as policy implementation and accessibility of financial documents could enhance its credibility and operational effectiveness moving forward.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Institute For Financial Awareness Inc legitimate?
Institute For Financial Awareness Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute For Financial Awareness 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.ifaonline.org
What is the mission statement of Institute For Financial Awareness Inc?
The Institute for Financial Awareness Inc is dedicated to providing free financial educational resources to the public. The primary objective is to help individuals become financially fit by understanding the potential financial pitfalls they may encounter in their daily lives. Through these resources, individuals can navigate financial challenges more effectively. As part of its mission, the Institute is also planning to educate employees of various organizations about financial pitfalls and offer them resources to manage these challenges.
Official website here: www.ifaonline.org
Who is the CEO of Institute For Financial Awareness Inc?
Nicholas F Herman is the Director of Institute For Financial Awareness Inc. The CEO's salary of Institute For Financial Awareness Inc is $0 and their total compensation is $0.
Official website here: www.ifaonline.org
What is the revenue of Institute For Financial Awareness Inc?
Institute For Financial Awareness Inc's revenue in 2021 was $40,864.
Official website here: www.ifaonline.org
Who are the executives of Institute For Financial Awareness Inc and what are their salaries?
Here are 3 key members and their salaries (Institute For Financial Awareness Inc'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.ifaonline.org
Where can I find the form 990 for Institute For Financial Awareness Inc?
Institute For Financial Awareness Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.ifaonline.org
Learn more at the official website: www.ifaonline.org
Mission Statement of Institute For Financial Awareness Inc
The Institute for Financial Awareness Inc is committed to providing free educational resources to the public with the objective of empowering individuals to become financially fit. By understanding the financial pitfalls they may encounter in their daily lives, people can navigate these challenges more effectively. The organization's mission is to serve as a beacon of financial education, offering resources that can help individuals navigate through financial difficulties.
In a proactive approach, the Institute for Financial Awareness Inc plans to educate the employees of various organizations on potential financial pitfalls they might face. By providing these resources, the institute aims to equip them with the necessary tools to navigate through these challenges, ultimately leading to a more financially stable workforce. The institute's mission is not just about providing information, but about fostering financial literacy and promoting financial well-being in the wider community.
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Impact
August, 2024
The Institute For Financial Awareness Inc's impact lies in providing free financial educational resources to the public, helping individuals become more fiscally fit by understanding financial pitfalls they may encounter in their everyday lives. The organization aims to educate employees of various organizations on financial challenges and provide resources to navigate these pitfalls effectively. Operating out of Gaithersburg, MD, the Institute For Financial Awareness Inc is dedicated to enhancing financial literacy and empowering individuals to make informed financial decisions.
This information is meant to be a general summary of Institute For Financial Awareness 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 2021.
- Gross Receipts: $40,864
Assets and Liabilities:
- Total Assets: $16,944
- Total Liabilities: $0
- Net Assets: $16,944
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Organization Details
Founding Year
2017
Phone
(240) 252-3408Principal Officer
Nicholas F Herman
Main Address
17B FIRSTFIELD ROAD SUITE 108, GAITHERSBURG, MD, 20878
Website
www.ifaonline.orgNTEE Category
Code: P51 - Human services
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