Overview
What is Lever Fund?
The Lever Fund is a nonprofit organization dedicated to addressing local poverty in Northern Virginia, the District of Columbia, and Maryland. By raising and strategically investing in high-performing, impactful nonprofits, it aims to make a tangible difference in the lives of individuals struggling with poverty. The Lever Fund's mission is inspired by successful organizations like the Robin Hood Foundation, A Better Chicago, and Tipping Point, focusing on measurable impact, genuine results, and maintaining strong returns on investment. The goal is to assist individuals in transitioning from poverty to opportunities, keeping donors informed throughout the process.
Official website here: www.leverfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating. This rating indicates that Lever Fund has room for improvement in its accountability and financial management practices. The organization has demonstrated strong governance practices, such as having a fully independent board and maintaining a high score for the material diversion of assets.
In terms of strengths, Lever Fund excels in board independence and size, with all members being independent and the board size being adequate. Additionally, they scored well on several policies including conflict of interest and documentation of board meeting minutes. However, the charity has significant shortcomings in their transparency and financial management, particularly in the areas of their program expense ratio and the absence of a whistleblower policy.
The low score of 6 out of 25 for program expenses suggests that a smaller portion of their budget is being allocated toward their programs compared to administrative costs, which is a concern for potential donors. Furthermore, there are notable issues with document retention and transparency, including not posting their tax form on their website. These factors highlight the need for Lever Fund to improve its operational practices to enhance accountability and better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Lever Fund legitimate?
Lever Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lever Fund 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.leverfund.org
What is the mission statement of Lever Fund?
The Lever Fund was established with a mission to increase the amount of funds dedicated to fighting local poverty. Their approach is to raise these funds in a smarter and data-driven manner. Drawing inspiration from organizations like the Robin Hood Foundation, A Better Chicago, and Tipping Point, the Lever Fund emphasizes measurable impact and aims to produce solid returns on investment. Their ultimate goal is to help move individuals from poverty to opportunity, keeping investors informed throughout the process.
Official website here: www.leverfund.org
Who is the CEO of Lever Fund?
Connie Chang is the Founder of Lever Fund.
Official website here: www.leverfund.org
What is the revenue of Lever Fund?
Lever Fund's revenue in 2022 was $107,593.
Official website here: www.leverfund.org
Who are the executives of Lever Fund and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.leverfund.org
Where can I find the form 990 for Lever Fund?
Lever Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.leverfund.org
Learn more at the official website: www.leverfund.org
Mission Statement of Lever Fund
The Lever Fund, an organization inspired by successful poverty-fighting entities such as Robin Hood Foundation, A Better Chicago, and Tipping Point, was established with a mission to increase the amount of local funds dedicated to addressing poverty and to spend these funds in a more data-driven, strategic manner. This nonprofit follows a model that emphasizes measurable impact, genuine returns, and investor transparency. The ultimate goal of The Lever Fund is to assist individuals in transitioning from poverty to opportunities, ensuring that every investment made contributes to this objective while keeping investors informed throughout the process.
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Impact
October, 2024
Lever Fund significantly impacts the fight against poverty by channeling local resources into high-performance initiatives in Northern Virginia, the District of Columbia, and Maryland. By raising local funds dedicated to poverty alleviation, Lever Fund ensures that investments are strategically deployed in programs that demonstrate genuine effectiveness and measurable results.
The mission focuses on applying rigorous data-driven methods and proven metrics to guide funding decisions, inspired by successful models like the Robin Hood Foundation and Tipping Point. This approach not only identifies high-impact opportunities but also generates tangible returns on investment—shifting individuals and families from poverty toward greater opportunities.
In a region where the need for effective poverty intervention is crucial, Lever Fund’s commitment to transparency keeps investors informed about the progress and outcomes of their contributions, fostering a culture of accountability and engagement. Through these efforts, Lever Fund is creating sustainable change and helping to build stronger communities.
This information is meant to be a general summary of Lever Fund. 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
- Gross Receipts: $107,593
Assets and Liabilities:
- Total Assets: $48,363
- Total Liabilities: $0
- Net Assets: $48,363
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Organization Details
Founding Year
2013
Phone
(202) 491-3356Principal Officer
Connie Chang
Main Address
5440 NEVADA AVE NW, WASHINGTON, DC, 20015
Website
www.leverfund.orgNTEE Category
Code: P99 - Human services
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