Hartford Area Development Foundation

Charity Navigator Rating: Needs Improvement

The Hartford Area Development Foundation has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement with an overall score of 69%. The organization demonstrates a strong commitment to independence with a fully independent board and strong asset management, reflected in a favorable liabilities to assets ratio. Additionally, the program expense ratio is commendable, indicating that a significant portion of its expenditures is allocated toward its mission-related activities.

However, several critical areas require attention. The foundation lacks essential financial transparency, as no financial statements are provided, which significantly impacts its accountability score. Furthermore, the absence of a conflict of interest policy, whistleblower policy, and document retention policy raises concerns about governance practices and operational integrity.

While the organization has some structural strengths, the noted deficiencies in financial reporting and governance policies suggest that potential donors and stakeholders should approach with caution. Addressing these issues could enhance the foundation's credibility and effectiveness in fulfilling its mission.

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

Hartford Area Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hartford Area Development 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

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Official website here: www.hartford.life/