Overview
What is Bright Funds Foundation?
The Bright Funds Foundation is a nonprofit organization based in San Jose, California, with the mission to enhance and improve the lives of those in need by providing a platform for charitable giving. They encourage and facilitate online donations to 501(c)(3) charitable organizations, aiming to increase philanthropy and decrease fundraising costs through secure and user-friendly methods. Their state-of-the-art internet-based tools enable donors to track their charitable contributions, making their giving experience more effective and engaging. Bright Funds Foundation empowers people to be meaningful, active, and dedicated philanthropists.
Official website here: www.brightfunds.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Bright Funds Foundation has received a two-star rating from Charity Navigator, reflecting a score of 66%. The organization demonstrates strong accountability and finance practices, achieving a perfect score in this area. However, the lack of independent board size and insufficient financial statements indicate significant weaknesses in governance transparency.
While the foundation excels in program expense and fundraising efficiency ratios, it faces criticism for not publicly disclosing key financial documents and board member information on its website. Furthermore, the absence of conflict of interest and whistleblower policies contributes to the concerns regarding its internal controls and accountability measures.
Overall, Bright Funds Foundation shows potential with a high program expense ratio, suggesting that most funds are directed towards its mission. However, the significant gaps in governance practices and transparency may impact donor confidence and require attention to enhance organizational credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Bright Funds Foundation legitimate?
Bright Funds Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bright Funds 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
Official website here: www.brightfunds.org
What is the mission statement of Bright Funds Foundation?
The Bright Funds Foundation is committed to empowering individuals to become active and impactful philanthropists. Through its platform, the foundation supports various charitable programs, initiatives, and organizations to enhance and improve the lives of those in need. The foundation encourages and facilitates online giving opportunities for all 501(c)(3) charitable organizations. Its primary goal is to increase philanthropy and decrease the overall cost of fundraising by providing easy and secure ways for the public to donate and volunteer for their preferred charities, and track their giving using advanced internet-based tools.
Official website here: www.brightfunds.org
What is the revenue of Bright Funds Foundation?
Bright Funds Foundation's revenue in 2023 was $85,703,644.
Official website here: www.brightfunds.org
Who are the executives of Bright Funds Foundation 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
Official website here: www.brightfunds.org
Where can I find the form 990 for Bright Funds Foundation?
Bright Funds Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.brightfunds.org
Learn more at the official website: www.brightfunds.org
Mission Statement of Bright Funds Foundation
Bright Funds Foundation, a philanthropic organization, empowers individuals to make a difference by supporting various charitable programs, initiatives, and organizations. Its mission lies in enabling people to be meaningful, effective, and engaged givers. Through its platform, the foundation facilitates online giving opportunities for all 501(c)(3) charitable organizations, with the goal of increasing philanthropy and reducing the overall cost of fundraising. By providing a straightforward and secure way for the public to donate or volunteer for their preferred charity and monitor their giving through advanced internet-based tools, Bright Funds Foundation makes charitable giving more accessible and efficient.
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Impact
October, 2024
Bright Funds Foundation empowers individuals to become meaningful, effective, and engaged philanthropists. By providing a comprehensive platform for charitable giving, it enhances the lives of those in need through support for various charitable programs and organizations. The foundation facilitates online giving opportunities for all 501(c)(3) charitable initiatives, aiming to increase philanthropy while reducing fundraising costs. Users can easily donate to or volunteer for their chosen charities and track their contributions using advanced internet-based tools, thereby fostering a more engaged philanthropic community. Located in San Jose, California, the foundation is dedicated to making charitable giving straightforward and secure, ultimately contributing to a positive impact on society.
This information is meant to be a general summary of Bright Funds 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 2023.
- Investment Income: $82,566
- Gross Receipts: $85,703,644
Assets and Liabilities:
- Total Assets: $27,273,042
- Total Liabilities: $3,081,595
- Net Assets: $24,191,447
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Organization Details
Founding Year
2013
Principal Officer
Srinagesh Vitthanala
Website
www.brightfunds.orgNTEE Category
Code: T12 - Philanthropy
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