Overview
What is Cy's Place?
Cy's Place is a nonprofit organization situated in Rochester, Minnesota, specifically at 4221 1st Street NW. Its primary mission is to offer a serene, welcoming environment for families with pediatric patients who are immunocompromised, primarily serving those attending the Mayo Clinic. The nonprofit aims to create a home-away-from-home setting, providing essential support during their challenging medical journeys. Families are encouraged to contribute a small fee of $10 per night, although they can stay for free during periods of financial hardship. In 2022, 24 guests from eight families sought refuge at Cy's Place.
Official website here: www.cysplace.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating.
Cy's Place holds a solid rating of 83%, reflecting strong performance in accountability and finance. The charity has a fully independent board, which is a positive indicator of governance practices. Additional strengths include a high program expense ratio of 71.86%, suggesting that a significant portion of its funds is directed toward its mission-related activities.
The organization has implemented several essential policies, such as a conflict of interest policy and the documentation of board meeting minutes, which contribute to transparent operations. However, it is noteworthy that Cy's Place lacks a whistleblower policy, which has been identified as a gap in its accountability framework. Despite this limitation, the charity's overall financial health and governance practices remain commendable.
This AI summary has been generated from information found on Charity Navigator.
Is Cy's Place legitimate?
Cy's Place is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cy's Place 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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Official website here: www.cysplace.org
What is the mission statement of Cy's Place?
Cy's Place strives to establish and maintain a tranquil, inviting home-like environment, serving primarily as a sanctuary for families with pediatric patients who are immunocompromised. The organization's primary mission is to provide a peaceful retreat for these patients and their families, showing a preference towards pediatric patients with compromised immune systems. During the year 2022, 24 guests from eight different families found solace at Cy's Place. Families are expected to pay a modest fee of $10 per family per night, but are granted the opportunity to stay free of charge when they are experiencing financial hardships.
Official website here: www.cysplace.org
Who is the CEO of Cy's Place?
Randy Erickson is the Director of Cy's Place.
Official website here: www.cysplace.org
What is the revenue of Cy's Place?
Cy's Place's revenue in 2022 was $40,052.
Official website here: www.cysplace.org
Who are the executives of Cy's Place and what are their salaries?
There 52 volunteers at Cy's Place.
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Official website here: www.cysplace.org
Where can I find the form 990 for Cy's Place?
Cy's Place's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cysplace.org
Learn more at the official website: www.cysplace.org
Mission Statement of Cy's Place
Cy's Place, a nonprofit organization, is dedicated to creating and maintaining a tranquil, inviting environment, serving as a home-away-from-home primarily for pediatric patients who are immunocompromised. The mission of Cy's Place is to provide these patients and their families with a serene and welcoming space during their stay at the Mayo Clinic. While families are expected to contribute a small fee of $10 per night, they are exempt from paying if they are experiencing financial hardships. The organization's primary focus is on pediatric patients, ensuring that they and their families can find solace and comfort during their difficult times.
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Impact
August, 2024
Cy's Place has made a significant impact by providing a home-away-from-home setting for pediatric patients who are immunocompromised and their families. During 2022, Cy's Place hosted 24 guests from eight families, offering a safe and welcoming environment during challenging times. Families are only asked to pay a small fee of $10 per family per night, ensuring that financial hardship does not prevent them from receiving much-needed support. By prioritizing pediatric patients with compromised immune systems, Cy's Place fulfills its mission of creating a peaceful and supportive space for individuals undergoing medical treatment at the Mayo Clinic in Rochester, MN. This initiative falls under the tag of "Human services," exemplifying the organization's commitment to enhancing the well-being of vulnerable populations.
This information is meant to be a general summary of Cy's Place. 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: $1,328
- Program Service Revenue: $1,568
- Gross Receipts: $41,078
Assets and Liabilities:
- Total Assets: $851,110
- Total Liabilities: $1,709
- Net Assets: $849,401
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENT FEES
Revenue
$1,568
Organization Details
Founding Year
2012
Phone
(701) 770-4215Principal Officer
Randy Erickson
Main Address
4221 1ST STREET NW, ROCHESTER, MN, 55901
Website
www.cysplace.orgNTEE Category
Code: P61 - Human services
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