Overview
What is Urban Renewal Initiative Foundation?
The Urban Renewal Initiative Foundation, based in Royal Oak, Michigan, is a nonprofit organization with a focus on cultural enhancements. Specifically, they are working towards the development of a performing arts center. Throughout 2022, they have been actively raising funds and incurring expenses for this project. This initiative is part of their broader mission to establish a cultural facility and contribute to the removal of urban blight.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Very poor
The Urban Renewal Initiative Foundation has received a zero-star rating from Charity Navigator, indicating significant concerns regarding its financial health and accountability. With an overall score of 40%, the organization excels in some governance aspects, such as having a fully independent board and robust financial oversight. However, critical shortcomings in financial transparency and operational efficiency have resulted in low scores in key areas, including program expense ratio and fundraising efficiency.
The foundation's accountability and finance score highlights the absence of crucial policies, such as a whistleblower policy and a document retention policy, which are essential for maintaining transparency and trust. Additionally, the organization fails to distribute its tax forms on its website, further limiting public access to important financial information. While it has demonstrated effective asset management with no material diversion, the lack of operational funds directed towards programs raises questions about its impact.
Overall, the Urban Renewal Initiative Foundation shows strengths in governance and oversight, but its poor financial performance and missing policies suggest a need for significant improvement in operational practices. Stakeholders and potential donors may wish to exercise caution before engaging with the foundation due to these unresolved issues.
This AI summary has been generated from information found on Charity Navigator.
Is Urban Renewal Initiative Foundation legitimate?
Urban Renewal Initiative Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Urban Renewal Initiative 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.
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 Urban Renewal Initiative Foundation?
The Urban Renewal Initiative Foundation's mission is focused on enhancing culture through the development of a performing arts center. This initiative includes the establishment of a cultural facility and the removal of blight from the designated area. During 2022, funds are being raised and expenses incurred for the transformation of property into this cultural hub.
Who is the CEO of Urban Renewal Initiative Foundation?
A Paul Schaap is the President-Treasurer-Direct of Urban Renewal Initiative Foundation.
What is the revenue of Urban Renewal Initiative Foundation?
Urban Renewal Initiative Foundation's revenue in 2022 was $6,405,060.
Who are the executives of Urban Renewal Initiative Foundation and what are their salaries?
There 7 volunteers at Urban Renewal Initiative Foundation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Urban Renewal Initiative Foundation?
Urban Renewal Initiative Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Urban Renewal Initiative Foundation
The Urban Renewal Initiative Foundation is committed to enriching culture by spearheading the development of a Performing Arts Center. This nonprofit organization's mission is twofold: firstly, it aims to establish a cultural facility, and secondly, it seeks to eliminate urban blight. By raising funds and incurring expenses during 2022, the Foundation is working diligently to transform a property into this artistic hub, contributing positively to the local cultural landscape.
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Impact
July, 2024
Urban Renewal Initiative Foundation's impact can be seen through their efforts in cultural enhancements, particularly in the development of a performing arts center in Royal Oak, MI. By raising funds and incurring expenses towards establishing a cultural facility and removing blight in the area, the foundation is actively contributing to the revitalization and enrichment of the community through the arts. Their focus on creating a space for performing arts highlights their commitment to fostering creativity, education, and community engagement.
This information is meant to be a general summary of Urban Renewal Initiative 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 2022.
- Investment Income: $47,541
- Gross Receipts: $6,405,060
Assets and Liabilities:
- Total Assets: $16,495,275
- Total Liabilities: $34,930
- Net Assets: $16,460,345
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Organization Details
Founding Year
2012
Phone
(248) 837-1397Principal Officer
A Paul Schaap
Main Address
26622 WOODWARD AVE 225, ROYAL OAK, MI, 48067
NTEE Category
Code: T30 - Philanthropy
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