Overview
What is Friends Of The League Foundation?
Friends of the League Foundation is a nonprofit organization, situated in Los Angeles, California, specifically at 6640 Sunset Boulevard. This foundation was established exclusively to support the League, with funds received from it being invested. A portion of these investments is distributed annually to the League as needed, following a spending plan. The main purpose of the Friends of the League Foundation is to mitigate administrative costs, thereby allowing the League's fundraising efforts to directly benefit its services. The foundation's mission is to contribute to the Assistance League of Los Angeles, thereby strengthening its capacity to fulfill its objectives.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 94%, Four-Star out of Four Star rating.
Friends Of The League Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in the area of Accountability and Finance. The organization scored exceptionally well, with a perfect score in several categories, indicating effective governance practices and transparency. The independent board governance is particularly noteworthy, as it consists entirely of independent members, ensuring unbiased decision-making.
The Foundation's financial management is robust, demonstrated by a program expense ratio of 89.70%, meaning a significant majority of its budget is directed towards its programs. This high percentage showcases the organization’s commitment to utilizing its resources efficiently for its mission. Additionally, the absence of liabilities enhances its fiscal stability, further bolstering confidence in its financial health.
However, while the charity excels in its financial performance and governance, specific qualitative feedback from beneficiaries or program impacts is not included in the available data. This may limit a comprehensive understanding of its effectiveness in fulfilling its mission beyond financial metrics. Overall, the Friends Of The League Foundation stands out for its accountability and transparency, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The League Foundation legitimate?
Friends Of The League Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The League 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.
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What is the mission statement of Friends Of The League Foundation?
The Friends of the League Foundation was established with the sole purpose of supporting the Assistance League of Los Angeles. The foundation receives funds from the league, which are then invested and a portion is distributed annually to the league as needed, following a spending plan. This distribution is intended to cover the league's administrative costs, allowing their fundraising efforts to directly benefit the services they provide. In essence, the mission of the Friends of the League Foundation is to aid the Assistance League of Los Angeles by managing its financial resources, thereby enabling the league to focus on its charitable work without being burdened by administrative expenses.
Who is the CEO of Friends Of The League Foundation?
Kathryn L Russell is the Chair-President (Beg 2/22) of Friends Of The League Foundation.
What is the revenue of Friends Of The League Foundation?
Friends Of The League Foundation's revenue in 2022 was $1,919,124.
Who are the executives of Friends Of The League Foundation and what are their salaries?
There 10 volunteers at Friends Of The League Foundation.
Here are 12 key members and their salaries:
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Where can I find the form 990 for Friends Of The League Foundation?
Friends Of The League Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of The League Foundation
The Friends of the League Foundation was established with a specific purpose: to support the Assistance League of Los Angeles. This foundation receives funds from the League, which are then invested. A portion of these investments is distributed annually as needed, following a spending plan. These funds are utilized to cover the administrative costs of the League, thereby allowing the organization's fundraising efforts to directly benefit its services. This financial support helps the League to continue its mission without having a significant portion of its resources consumed by administrative expenses.
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Impact
July, 2024
Friends Of The League Foundation's impact lies in providing crucial financial support to the Assistance League of Los Angeles, allowing the league to direct its fundraising efforts towards benefiting its services directly. By offsetting administrative costs through the funds received and distributed annually as needed, the foundation plays a vital role in ensuring that the League can continue its philanthropic activities efficiently and effectively. This support ultimately enhances the League's capacity to make a positive difference in the Los Angeles community through various charitable initiatives.
This information is meant to be a general summary of Friends Of The League 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: $1,919,124
- Gross Receipts: $6,386,550
Assets and Liabilities:
- Total Assets: $31,624,654
- Total Liabilities: $10,215
- Net Assets: $31,614,439
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Organization Details
Founding Year
2012
Phone
(323) 469-1973Principal Officer
Kathryn L Russell
Main Address
6640 SUNSET BOULEVARD, LOS ANGELES, CA, 90028
NTEE Category
Code: T40 - Philanthropy
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