Overview
What is Professional Skaters Foundation?
The Professional Skaters Foundation is a nonprofit organization situated in Rochester, Minnesota, specifically at 3006 Allegro Park Lane SW. Their primary mission involves providing financial assistance to professional skaters participating in developmental and educational programs. This aid can be in the form of scholarships, which are distributed based on predetermined criteria and guidelines. The foundation's goal is to support coaches and performance skaters who may be facing financial challenges due to sickness, disability, or age. By offering this assistance, the Professional Skaters Foundation aims to ensure that talent in the field of skating is not hindered by financial constraints.
Official website here: www.professionalskatersfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Professional Skaters Foundation has earned an impressive Four-Star rating from Charity Navigator, reflecting its strong focus on accountability and financial health. With a score of 97% in the Accountability & Finance category, the organization demonstrates a commitment to transparency and effective management of resources. This rating is based entirely on their accountability measures, indicating a robust financial oversight framework.
One of the organization's strengths is its fully independent board, with 10 out of 10 board members being independent, which enhances governance and decision-making integrity. Additionally, the foundation has a clean financial record, with no material diversion of assets, a 0% liabilities to assets ratio, and a high program expense ratio of 93.95%. These metrics suggest that the majority of funds are directed toward the foundation's programs and missions rather than administrative costs.
While the Professional Skaters Foundation's financial rating is commendable, users seeking more information about the specific programs it supports may find limited details in the available summary. Overall, the organization appears to be well-managed and financially sound, furthering its mission effectively within the skating community.
This AI summary has been generated from information found on Charity Navigator.
Is Professional Skaters Foundation legitimate?
Professional Skaters Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Professional Skaters Foundation 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.
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Official website here: www.professionalskatersfoundation.org
What is the mission statement of Professional Skaters Foundation?
The Professional Skaters Foundation's mission is centered around distributing scholarships based on specific criteria and guidelines. This financial aid is intended for coaches and performance skaters who find themselves in need due to sickness, disability, or advanced age. The organization's primary goal is to provide financial assistance, aiming to alleviate the financial burdens faced by these individuals in the skating community. The Professional Skaters Foundation also operates a financial assistance fund, designed to reimburse professional skaters participating in developmental and educational programs.
Official website here: www.professionalskatersfoundation.org
What is the revenue of Professional Skaters Foundation?
Professional Skaters Foundation's revenue in 2024 was $70,443.
Official website here: www.professionalskatersfoundation.org
Who are the executives of Professional Skaters Foundation and what are their salaries?
There 15 volunteers at Professional Skaters Foundation.
Here are 9 key members and their salaries:
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Official website here: www.professionalskatersfoundation.org
Where can I find the form 990 for Professional Skaters Foundation?
Professional Skaters Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.professionalskatersfoundation.org
Learn more at the official website: www.professionalskatersfoundation.org
Mission Statement of Professional Skaters Foundation
The Professional Skaters Foundation is committed to providing financial aid to coaches and performance skaters in need. This is accomplished through the distribution of scholarships based on specific criteria and guidelines. The organization extends its support to individuals who encounter financial hardships due to sickness, disability, or advanced age, enabling them to participate in developmental and educational programs. The mission of the Professional Skaters Foundation is to serve as a financial assistance fund, reimbursing qualified skaters for their expenses.
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Impact
August, 2024
Professional Skaters Foundation has a significant impact on the skating community by providing financial assistance to professional skaters participating in developmental and education programs. Their use of scholarships distributed based on specific criteria and guidelines helps support coaches and performance skaters in need, whether due to sickness, disability, or age. This support plays a crucial role in enabling skaters to continue pursuing their passion and achieving their goals in the sport.
This information is meant to be a general summary of Professional Skaters Foundation. 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 2024.
- Investment Income: $68,661
- Program Service Revenue: $6,181
- Gross Receipts: $70,443
Assets and Liabilities:
- Total Assets: $731,786
- Total Liabilities: $5,000
- Net Assets: $726,786
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
US OPEN INCOME
Revenue
$6,181
Organization Details
Founding Year
1996
Principal Officer
Patrick O'Neil
NTEE Category
Code: Z99 - Unknown
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