Overview
What is Friends Development Fund Inc?
Friends Development Fund Inc, situated in Oskaloosa, Iowa, is a nonprofit organization that manages and invests permanent funds. The primary objective of this fund is to distribute the earnings to various exempt Friends entities. These entities include supporting church extension, retired missionaries and ministers, missions, leadership development, educational scholarships, and the Mesquakie Friends in Tama, Iowa. The fund also provides assistance for ground maintenance at the Mesquakie Friends location. In essence, Friends Development Fund Inc plays a crucial role in financially supporting various initiatives within the Friends community in Iowa.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. This rating reflects a significant focus on accountability and financial practices, scoring 100% in several key areas, including having a majority of independent board members and no material diversion of assets. The charity demonstrates strong governance and transparency, which are critical indicators of reliability in nonprofit management.
The Friends Development Fund Inc has a commendable program expense ratio of 83.89%, indicating that a large portion of its expenditures is directed towards its programs rather than administrative costs. This suggests that the organization is effectively utilizing its resources to achieve its mission and serve its beneficiaries. Additionally, the absence of liabilities underscores its financial health.
However, the overall rating of 73% and a Two-Star designation suggest there may be areas for improvement. While the charity excels in accountability metrics, the single beacon rating indicates limited assessment across other dimensions, which could provide a more comprehensive view of its effectiveness and impact. Continued focus on enhancing its performance in these areas could help boost its overall standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Development Fund Inc legitimate?
Friends Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Development Fund 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
What is the mission statement of Friends Development Fund Inc?
The Friends Development Fund Inc's mission revolves around investing permanent funds with the primary objective of distributing the earned income to various exempt entities associated with the Friends movement. This financial support is then utilized for various programs, including church extension, retirement aid for missionaries and ministers, missions, leadership development, educational scholarships, and maintenance of facilities. The fund's contributions aim to strengthen and enhance these initiatives within the Friends community.
What is the revenue of Friends Development Fund Inc?
Friends Development Fund Inc's revenue in 2024 was $121,828.
Who are the executives of Friends Development Fund Inc and what are their salaries?
There 8 volunteers at Friends Development Fund Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $30,000
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Friends Development Fund Inc?
Friends Development Fund Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Friends Development Fund Inc
Friends Development Fund Inc, as per its mission, invests permanent funds with the primary objective of distributing the earned income to various exempt entities affiliated with the Friends. This organization's purpose is to support a wide range of programs under the Friends umbrella, including church extension, retired missionaries and ministers' support, missions, leadership development, educational scholarships, and Mesquakie Friends in Tama, IA, among others. By distributing the earnings from its investments, Friends Development Fund Inc plays a vital role in sustaining and enhancing these programs, thereby contributing to the overall well-being and growth of the affiliated entities.
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Impact
August, 2024
Friends Development Fund Inc's impact is significant in supporting the Iowa Yearly Meeting of Friends in Oskaloosa, IA by supplementing important programs such as church extension, retired missionaries and minister's support, missions, leadership development, educational scholarships, Mesquakie Friends in Tama, IA, and grounds upkeep. By investing permanent funds and distributing earnings to these various Friends exempt entities, Friends Development Fund Inc plays a crucial role in furthering the missions and initiatives of the Iowa Yearly Meeting of Friends.
This information is meant to be a general summary of Friends Development Fund 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 2024.
- Investment Income: $121,739
- Gross Receipts: $121,828
Assets and Liabilities:
- Total Assets: $1,482,545
- Total Liabilities: $0
- Net Assets: $1,482,545
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Organization Details
Founding Year
1979
Principal Officer
John Good
NTEE Category
Code: L20 - Housing
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