Overview
What is Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation?
The Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation, based in Dallas, Texas, is a nonprofit organization committed to carrying out charitable and educational objectives for the North Texas LGBTQ+ community. Its primary mission involves supporting young adults and fostering the growth of future leaders within this community. The foundation achieves this through its scholarship program, which has granted over $150,000 in scholarships to LGBTQ+ students, their children, and allies who have significantly contributed to the community since 2011. To fund these scholarships, the foundation organizes annual events such as the Scholars Gala and Spooktacular, a Halloween-themed dance party. In 2022, six recipients received scholarships totaling $13,000. The grants can be used for various accredited post-secondary education programs, including traditional colleges, universities, trade schools, and certificate programs.
Official website here: www.lgbtchamberfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
The Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation has achieved an impressive 97% rating from Charity Navigator, signifying a strong performance in accountability and finance. This rating reflects a commitment to transparency and effective management, with all board members being independent, which is crucial for ensuring unbiased decision-making.
The foundation has demonstrated excellent financial health, with a program expense ratio of 90.11%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs. Furthermore, the organization meets all recommended governance practices, including a well-defined conflict of interest policy and a whistleblower policy, which further emphasizes its commitment to ethical standards.
While the foundation scores highly across all evaluated areas, the focus on accountability does not provide insights into the impact of its programs or services. Thus, while the financial management appears robust, potential donors and stakeholders may want to seek more information about the effectiveness of the foundation's initiatives in the LGBTQ+ community.
This AI summary has been generated from information found on Charity Navigator.
Is Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation legitimate?
Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gay Lesbian Bisexual Transgender Chamber Of Commerce 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.
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For more financial information, click here
Official website here: www.lgbtchamberfoundation.org
What is the mission statement of Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation?
The Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation's mission is centered around accomplishing the charitable and educational objectives of the North Texas Gay Lesbian Bisexual Transgender Chamber of Commerce. The foundation's primary goal is to support and nurture the growth of young leaders within the LGBT community. Through various fundraising events, such as the Scholars Gala and Spooktacular, the foundation has been able to grant scholarships to deserving LGBTQ+ students, allies, and children of LGBTQ+ parents. Since 2011, the foundation has awarded over $150,000 in scholarships for post-secondary education, encompassing traditional colleges, universities, trade schools, and certificate programs.
Official website here: www.lgbtchamberfoundation.org
What is the revenue of Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation?
Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation's revenue in 2023 was $43,769.
Official website here: www.lgbtchamberfoundation.org
Who are the executives of Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation and what are their salaries?
There 80 volunteers at Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation.
Here are 15 key members and their salaries:
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Official website here: www.lgbtchamberfoundation.org
Where can I find the form 990 for Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation?
Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lgbtchamberfoundation.org
Learn more at the official website: www.lgbtchamberfoundation.org
Mission Statement of Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation
The Gay Lesbian Bisexual Transgender Chamber of Commerce Foundation, in its mission, aims to fulfill the charitable and educational objectives of its parent organization, the North Texas Gay Lesbian Bisexual Transgender Chamber of Commerce. The Foundation's primary focus is on supporting young adults and fostering the growth of future leaders within the LGBTQ+ community. This is achieved through the implementation of various programs and initiatives.
One of the key areas of focus for the Foundation is its scholarship program. The scholarship program aims to provide financial assistance to deserving LGBTQ+ students, children of LGBTQ+ parents, and allies who have significantly contributed to the LGBTQ+ community. These scholarships can be utilized for various post-secondary education programs, including traditional colleges and universities, trade schools, and certificate programs. Since its inception in 2011, the Foundation has awarded over $150,000 in scholarships, highlighting its commitment to supporting the education and future of individuals within the LGBTQ+ community.
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Impact
August, 2024
The Gay Lesbian Bisexual Transgender Chamber Of Commerce Foundation's impact is significant in supporting young adults and nurturing the development of leaders in the LGBT community. Through its scholarship program, the foundation has awarded over $150,000 in scholarships to deserving LGBTQ and ally students across Texas since 2011. This financial support has enabled students to pursue their post-secondary education in various accredited programs, from traditional colleges and universities to trade schools and certificate programs. Additionally, the foundation's fundraising events, such as the scholars gala and Spooktacular, have played a crucial role in funding these scholarships and supporting the educational aspirations of LGBT individuals and allies.
This information is meant to be a general summary of Gay Lesbian Bisexual Transgender Chamber Of Commerce 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.
- Program Service Revenue: -$4,100
- Gross Receipts: $80,808
Assets and Liabilities:
- Total Assets: $133,557
- Total Liabilities: $945
- Net Assets: $132,612
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
-$4,100
Organization Details
Founding Year
2015
Principal Officer
Anthony P Vedda
NTEE Category
Code: T30 - Philanthropy
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