Overview
What is Passaic Optimist Friend Of Youth Foundation Inc?
Passaic Optimist Friend of Youth Foundation Inc, based in Passaic, New Jersey, is a nonprofit organization that primarily relies on individual and private contributions. Its primary mission is to grant scholarships to deserving students residing in the Passaic area. The foundation also extends its efforts to provide educational opportunities and recognizes local youth through its appreciation award program. The organization's work contributes positively to the community by supporting the academic aspirations and achievements of Passaic's young population.
Official website here: www.passaicoptimistfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Star rating)
The Passaic Optimist Friend Of Youth Foundation Inc has received a low rating of 56%, which indicates significant concerns regarding its governance and accountability practices. The organization has no independent board members, which raises questions about oversight and decision-making. While it has a strong program expense ratio of 76.65%, reflecting a commitment to programmatic spending, the lack of independent board members is a critical weakness in its governance structure.
Additionally, the foundation has several missing policies, including a conflict of interest policy and a whistleblower policy, which are essential for maintaining transparency and ethical behavior. The absence of these policies may undermine trust among stakeholders. However, the organization does have a documented record of board meeting minutes and has not reported any material diversion of assets, which indicates some level of financial integrity.
In summary, while the foundation demonstrates a commitment to its mission through high program spending, its overall governance and accountability practices are concerning. Prospective donors and supporters should weigh these factors carefully when considering their engagement with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Passaic Optimist Friend Of Youth Foundation Inc legitimate?
Passaic Optimist Friend Of Youth Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Passaic Optimist Friend Of Youth Foundation 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.passaicoptimistfoundation.org
What is the mission statement of Passaic Optimist Friend Of Youth Foundation Inc?
The Passaic Optimist Friend of Youth Foundation Inc's mission revolves around providing financial aid to deserving students. The organization's primary objective is to grant scholarships, thereby promoting educational opportunities. Additionally, they honor deserving youth in the community through their Youth Appreciation Award. Their mission is primarily funded through contributions from individuals, private foundations, and corporations.
Official website here: www.passaicoptimistfoundation.org
Who is the CEO of Passaic Optimist Friend Of Youth Foundation Inc?
Dan Sheridan is the President of Passaic Optimist Friend Of Youth Foundation Inc.
Official website here: www.passaicoptimistfoundation.org
What is the revenue of Passaic Optimist Friend Of Youth Foundation Inc?
Passaic Optimist Friend Of Youth Foundation Inc's revenue in 2022 was $39,789.
Official website here: www.passaicoptimistfoundation.org
Who are the executives of Passaic Optimist Friend Of Youth Foundation Inc and what are their salaries?
There 60 volunteers at Passaic Optimist Friend Of Youth Foundation Inc.
Here are 8 key members and their salaries:
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Official website here: www.passaicoptimistfoundation.org
Where can I find the form 990 for Passaic Optimist Friend Of Youth Foundation Inc?
Passaic Optimist Friend Of Youth Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.passaicoptimistfoundation.org
Learn more at the official website: www.passaicoptimistfoundation.org
Mission Statement of Passaic Optimist Friend Of Youth Foundation Inc
The Passaic Optimist Friend of Youth Foundation Inc is a committed organization that focuses on granting scholarships to deserving students in the Passaic area. This nonprofit organization's mission is to recognize and support the educational aspirations of talented individuals within its community, thereby fostering their personal growth and development. In addition to offering scholarships, the Passaic Optimist Friend of Youth Foundation Inc also recognizes the achievements of local youth through its Youth Appreciation Award. This award serves as a testament to the organization's dedication to celebrating and empowering the young people in its community. The funding for these initiatives comes primarily from individual, private foundation, and corporate contributions, demonstrating the widespread support for the Foundation's mission to uplift and invest in the future of its youth.
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Impact
August, 2024
Passaic Optimist Friend Of Youth Foundation Inc has a significant impact on the Passaic area by granting scholarships to deserving students, providing education opportunities, and recognizing youth achievements. Through individual, private foundation, and corporation contributions, this organization supports the educational pursuits of New Jersey students and fosters youth development in the Passaic community. Their mission to uplift and empower deserving students aligns with their commitment to education and youth appreciation.
This information is meant to be a general summary of Passaic Optimist Friend Of Youth Foundation 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 2022.
- Investment Income: -$60,405
- Gross Receipts: $81,710
Assets and Liabilities:
- Total Assets: $229,635
- Total Liabilities: $0
- Net Assets: $229,635
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Organization Details
Founding Year
2011
Principal Officer
Dan Sheridan
Main Address
PO Box 1644, Passaic, NJ, 07055
NTEE Category
Code: B82 - Education
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