Overview
What is Ymwrea Foundation Of New York Inc?
Ymwrea Foundation of New York Inc, established eight years ago, is a nonprofit organization situated in the heart of New York City. Its primary mission is to contribute to the betterment of the New York metropolitan area, offering support to various charitable, benevolent, and educational causes. The organization has modest funds at its disposal, but in 2021, it managed to maintain low operating expenses while donating $5,000 each to Rebuilding Together NYC and the River Fund. The foundation actively collaborates with other charitable organizations to aid, support, and cooperate with their initiatives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement)
The Ymwrea Foundation Of New York Inc has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement. The organization has a score of 60%, which reflects issues particularly in governance and transparency. The board lacks independent members, which is a critical factor in promoting accountability within the organization.
Despite these governance concerns, the foundation shows a strong commitment to its mission, evident from a program expense ratio of 100%. This indicates that all of its expenses are directed toward program services, highlighting a focus on achieving its charitable objectives. However, the foundation's lack of necessary policies, such as a whistleblower policy and document retention guidelines, raises red flags regarding its operational standards.
Furthermore, key transparency measures are missing, such as posting tax forms and the organization's website. These omissions can affect public trust and accountability. While there are positive elements in terms of financial management and program effectiveness, the absence of independent oversight and key governance policies means that potential donors and stakeholders should proceed with caution.
This AI summary has been generated from information found on Charity Navigator.
Is Ymwrea Foundation Of New York Inc legitimate?
Ymwrea Foundation Of New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ymwrea Foundation Of New York Inc 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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What is the mission statement of Ymwrea Foundation Of New York Inc?
The Ymwrea Foundation of New York Inc is committed to conducting activities for the betterment of various charitable, benevolent, and educational causes. It voluntarily aids, supports, advises, and cooperates with numerous charitable, benevolent, educational organizations and institutions, both present and future. The foundation distributes contributions and makes payments to these organizations, utilizing its funds at the discretion of its directors, for charitable, benevolent, and educational purposes. The organization's primary goal is to contribute to the betterment of these causes and support the work of associated organizations.
Who is the CEO of Ymwrea Foundation Of New York Inc?
David Brause is the Director of Ymwrea Foundation Of New York Inc.
What is the revenue of Ymwrea Foundation Of New York Inc?
Ymwrea Foundation Of New York Inc's revenue in 2021 was $24,500.
Who are the executives of Ymwrea Foundation Of New York Inc and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Ymwrea Foundation Of New York Inc?
Ymwrea Foundation Of New York Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Ymwrea Foundation Of New York Inc
Ymwrea Foundation of New York Inc is committed to contributing to the betterment of the New York metropolitan area. The organization undertakes various activities with the primary objective of making charitable, benevolent, and educational contributions. It voluntarily aids, supports, advises, and collaborates with numerous charitable, benevolent, educational corporations, associations, organizations, institutions, and other agencies, both presently existing and those that may emerge in the future. The foundation is generous in dispensing funds, both income and principal, in accordance with the discretion of its directors, to these organizations to further their causes.
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Impact
August, 2024
Ymwrea Foundation Of New York Inc's impact is felt through its dedicated efforts to conduct activities for the benefit of the New York metropolitan area. By distributing or making contributions for charitable, benevolent, and educational purposes, the organization plays a significant role in supporting the community. In its eighth year of existence, the foundation has raised limited funds but has made impactful donations, including $5,000 to Rebuilding Together NYC and $5,000 to River Fund in 2021. These contributions demonstrate the organization's commitment to aiding and supporting those in need within the New York area.
This information is meant to be a general summary of Ymwrea Foundation Of New York Inc. 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 2021.
- Gross Receipts: $24,500
Assets and Liabilities:
- Total Assets: $23,197
- Total Liabilities: $0
- Net Assets: $23,197
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Organization Details
Founding Year
2014
Phone
(212) 697-5454Principal Officer
David Brause
Main Address
52 VANDERBILT AVENUE 1507, NEW YORK, NY, 10017
NTEE Category
Code: T30 - Philanthropy
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