Overview
What is Kolel Shmiel Bynumen Inc?
Kolel Shmiel Bynumen Inc is a nonprofit organization situated in Monroe, New York. Their primary mission is to provide financial aid in the form of grants or loans, interest-free, to Orthodox Jewish religious organizations. Additionally, they extend their support to assist the needy, sick, and disabled individuals within their community. Furthermore, Kolel Shmiel Bynumen Inc is committed to promoting Talmudic research. Their activities encompass offering financial assistance and contributing positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 35% (Zero-Star out of Four Star rating)
Kolel Shmiel Bynumen Inc has received a low rating of 35% from Charity Navigator, indicating significant concerns regarding its accountability and financial transparency. The rating is based entirely on a single beacon score, with a complete lack of independent board members and missing key financial statements. This raises potential questions about governance and oversight within the organization.
The organization does demonstrate a strong commitment to its program expenses, with a high ratio of 99.79%. This suggests that the majority of its financial resources are directed towards its intended charitable activities rather than administrative costs. However, the absence of essential policies and documentation, such as conflict of interest policies and board meeting minutes, limits the overall effectiveness and reliability of its governance structure.
Despite these strengths in program spending, the absence of independent oversight and transparency in financial reporting poses serious risks. The overall lack of compliance with best practices in nonprofit management makes it challenging for donors and stakeholders to fully trust in the organization's operations and fiscal health.
This AI summary has been generated from information found on Charity Navigator.
Is Kolel Shmiel Bynumen Inc legitimate?
Kolel Shmiel Bynumen Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kolel Shmiel Bynumen 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 Kolel Shmiel Bynumen Inc?
Kolel Shmiel Bynumen Inc is an organization with a mission to provide financial assistance. Specifically, it awards grants and loans, interest-free, to Orthodox Jewish religious organizations. Additionally, the organization extends its financial aid to those in need, including the sick, disabled, and impoverished individuals within their community. Furthermore, Kolel Shmiel Bynumen Inc supports Talmudic research by providing financial means for this purpose. In summary, the organization aims to support and uplift its community by providing financial aid to religious organizations and the needy individuals within it, as well as promoting scholarly research in Talmudic studies.
Who is the CEO of Kolel Shmiel Bynumen Inc?
Unavailable
What is the revenue of Kolel Shmiel Bynumen Inc?
Kolel Shmiel Bynumen Inc's revenue in 2022 was $739,551.
Who are the executives of Kolel Shmiel Bynumen Inc and what are their salaries?
Here are 3 key members and their salaries:
- 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 Kolel Shmiel Bynumen Inc?
Kolel Shmiel Bynumen Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Kolel Shmiel Bynumen Inc
Kolel Shmiel Bynumen Inc, a nonprofit organization, is dedicated to granting financial aid and loans, without charging interest, to religious Orthodox Jewish organizations. Beyond this, the organization extends its benevolence to assisting the less fortunate within the Jewish community, including the sick, disabled, and those in need. Furthermore, Kolel Shmiel Bynumen Inc supports Talmudic research, contributing financially to this important area of Jewish religious study. The organization's mission is to provide a safety net of financial assistance to various sectors within the Orthodox Jewish community, thereby promoting their growth and well-being.
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Impact
July, 2024
Kolel Shmiel Bynumen Inc has a significant impact by providing financial grants and loans, free of interest, to religious Orthodox Jewish organizations. Additionally, they offer financial assistance to the needy, sick, and disabled individuals, as well as support Talmudic research. Through their philanthropic activities, they contribute to the well-being of their community and the advancement of religious education and research.
This information is meant to be a general summary of Kolel Shmiel Bynumen 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.
- Gross Receipts: $739,551
Assets and Liabilities:
- Total Assets: $236,161
- Total Liabilities: $407,169
- Net Assets: -$171,008
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Organization Details
Founding Year
2011
Main Address
28 VAN BUREN DR 301, MONROE, NY, 10950
NTEE Category
Code: T30 - Philanthropy
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