Overview
What is Carnival Educational Fund Inc?
Carnival Educational Fund Inc, situated in Memphis, Tennessee, is a charitable organization that focuses on uplifting the lives of children from diverse backgrounds in the Memphis and Mid-South regions. Their mission involves extending the spirit of carnival within the community and annually selecting various agencies to receive funds raised through fundraisers organized by Carnival and the Grand Krewes of Carnival Memphis. The organization's primary objective is to enhance the quality of life for children, demonstrating a commitment to community development and child welfare.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
Carnival Educational Fund Inc has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting its strong accountability and financial health. With a high score of 94%, the organization demonstrates effective management of its resources and transparency, which is vital for donor trust and engagement.
The nonprofit excels in maintaining a fully independent board, consisting of 100% independent members, and has robust governance practices in place. Their financial statements are subject to thorough audit and oversight, and they have comprehensive policies regarding conflicts of interest and whistleblower protection, ensuring ethical operations. Additionally, the organization boasts a program expense ratio of 85.76%, indicating that a significant portion of its funding is directed towards its mission-driven activities.
Despite these strengths, it is essential to consider the financial liabilities to assets ratio, which stands at 32.10%. While this is a manageable level, it may warrant further scrutiny to ensure long-term sustainability. Overall, Carnival Educational Fund Inc appears to be a well-managed organization committed to effectively serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Carnival Educational Fund Inc legitimate?
Carnival Educational Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carnival Educational Fund 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: $86,686
For more financial information, click here
What is the mission statement of Carnival Educational Fund Inc?
The Carnival Educational Fund Inc's mission is focused on assisting organizations that work towards improving the quality of life for children from diverse ethnic and social backgrounds. Each year, they select various agencies to receive funds raised through various fundraisers organized by Carnival and the Grand Krewes of Carnival Memphis. Their mission also includes spreading the spirit of Carnival within the community.
What is the revenue of Carnival Educational Fund Inc?
Carnival Educational Fund Inc's revenue in 2024 was $625,857.
Who are the executives of Carnival Educational Fund Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $151,000
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Carnival Educational Fund Inc?
Carnival Educational Fund Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Carnival Educational Fund Inc
Carnival Educational Fund, a nonprofit organization, is committed to assisting entities that enhance the lives of children from diverse ethnic and social backgrounds in Memphis and the Mid-South. Their mission is twofold: firstly, they aim to spread the spirit of carnival within their community. Secondly, they annually select various agencies to receive funds raised through various fundraisers organized by Carnival and the Grand Krewes of Carnival Memphis. By doing so, Carnival Educational Fund contributes to improving the quality of life for children and promotes the essence of carnival within their community.
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Impact
July, 2024
Carnival Educational Fund Inc's impact is centered around assisting organizations that improve the quality of life for children of all ethnic and social backgrounds in Memphis and the Mid-South region. By supporting various agencies through fundraising initiatives, Carnival Educational Fund Inc contributes to enhancing educational opportunities and overall well-being for children in the community. Through their efforts, they help spread the spirit of Carnival while making a meaningful difference in the lives of young individuals.
This information is meant to be a general summary of Carnival Educational Fund 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 2024.
- Investment Income: $2,988
- Program Service Revenue: $372,510
- Gross Receipts: $625,857
Assets and Liabilities:
- Total Assets: $314,939
- Total Liabilities: $99,287
- Net Assets: $215,652
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENU
Revenue
$372,510
Organization Details
Founding Year
1999
Principal Officer
Ed Galfsky
NTEE Category
Code: B20J - Education
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