David M Carmines Memorial Fund

Charity Navigator Rating: 33% (Zero-Star out of Four Star rating)

The David M Carmines Memorial Fund has received a low rating of 33% from Charity Navigator, which indicates significant concerns regarding its accountability and financial practices. The organization has not demonstrated independence in its board composition, with 0% of its members being independent. This lack of independent oversight could raise questions about governance and decision-making processes.

Additionally, the fund has several missing policies, such as conflict of interest and whistleblower policies, which are crucial for ensuring transparency and ethical management. While it does maintain minutes from board meetings, the absence of essential documents and policies suggests potential weaknesses in its operational framework. On a positive note, the organization does not show any material diversion of assets and has a reasonable liabilities-to-assets ratio.

However, the overall financial health is concerning, as indicated by a low program expense ratio of 58.13%, implying that a smaller portion of funds is directed toward its mission-related activities. These factors combined contribute to its zero-star rating, emphasizing the need for improvements in governance and financial accountability for the David M Carmines Memorial Fund.

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

David M Carmines Memorial Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. David M Carmines Memorial Fund 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

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