Overview
What is Aharon Sofer Memorial Fund?
The Aharon Sofer Memorial Fund is a nonprofit organization established to honor the memory of Aharon Sofer. Its primary objectives include funding the creation of a Torah scroll and establishing a hospitality home in Lakewood, New Jersey, bearing his name. The organization extends its support to low-income families by providing financial aid through cash grants and a wig donation program, aiming to alleviate their struggles.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating. This rating indicates a moderate level of accountability and financial health for the Aharon Sofer Memorial Fund. While it demonstrates some strong financial practices, it falls short of the highest standards recognized by Charity Navigator.
The organization showcases a fully independent board, with 100% of its members meeting this criterion. Its financial management is commendable, evidenced by a favorable liabilities to assets ratio of 36.36% and a program expense ratio of 70.14%, indicating that a significant portion of funds is directed towards its programs. Additional strengths include a documented conflict of interest policy and regular board meeting minutes, underscoring its commitment to transparency.
However, with a Two-Star rating, there may be areas requiring improvement, particularly in overall financial efficiency and transparency in operations. Prospective donors may want to consider these factors when evaluating the organization's effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Aharon Sofer Memorial Fund legitimate?
Aharon Sofer Memorial Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Aharon Sofer Memorial 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: $22,050
For more financial information, click here
What is the mission statement of Aharon Sofer Memorial Fund?
The Aharon Sofer Memorial Fund's mission is centered around establishing a hospitality home and providing assistance to families with limited financial resources. The hospitality home, yet to be built, is intended to serve as a community space. In addition to this, the fund offers support to low-income families through cash grants and a wig donation program. The organization's activities aim to uphold the memory of Aharon Sofer while offering aid to those in need.
Who is the CEO of Aharon Sofer Memorial Fund?
Zev Sofer is the Trustee of Aharon Sofer Memorial Fund.
What is the revenue of Aharon Sofer Memorial Fund?
Aharon Sofer Memorial Fund's revenue in 2022 was $686,553.
Who are the executives of Aharon Sofer Memorial Fund and what are their salaries?
The average compensation at Aharon Sofer Memorial Fund during 2022 was $22,050. There is 1 employee and 1 volunteer at Aharon Sofer Memorial Fund.
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
Where can I find the form 990 for Aharon Sofer Memorial Fund?
Aharon Sofer Memorial Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Aharon Sofer Memorial Fund
The Aharon Sofer Memorial Fund is a nonprofit organization established with the mission to honor the memory of Aharon Sofer. Central to this mission is the creation of a hospitality home in Lakewood, New Jersey. Beyond this, the organization extends its aid to low-income families by offering financial assistance through cash grants and a wig donation program. The hospitality home serves as a place of refuge, providing a welcoming environment for those in need. The financial assistance, in the form of cash grants, offers temporary financial relief to families struggling with their resources. The wig donation program, meanwhile, caters specifically to women in need, providing them with wigs to help them maintain their dignity and self-esteem during challenging times. The Aharon Sofer Memorial Fund is committed to fulfilling its mission by providing support and aid to those who are less fortunate, thereby perpetuating the memory of its namesake in a meaningful and tangible way.
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Impact
July, 2024
The Aharon Sofer Memorial Fund's impact is significant in fulfilling its mission to perpetuate the memory of Aharon Sofer. The organization has made a tangible difference by funding the writing of a Torah scroll and establishing a hospitality home in Lakewood, New Jersey, in his honor. Furthermore, their assistance to low-income families through cash grants and a wig donation program has provided valuable support to those in need. The fund's activities directly contribute to improving the lives of individuals and families in the community.
This information is meant to be a general summary of Aharon Sofer Memorial 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.
- Gross Receipts: $686,553
Assets and Liabilities:
- Total Assets: $1,694,172
- Total Liabilities: $616,328
- Net Assets: $1,077,844
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Organization Details
Founding Year
2014
Phone
(732) 569-2671Principal Officer
Zev Sofer
Main Address
119 5TH STREET, LAKEWOOD, NJ, 08701
NTEE Category
Code: X30 - Religion related
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