Overview
What is Menorah Center Foundation Inc?
The Menorah Center Foundation Inc, operating under the name Benjamin Tower Foundation, is a nonprofit organization situated in St. Petersburg, Florida. Their primary focus is to raise funds for a related 501(c)(3) organization, with the aim of securing a loan to improve facilities. This related organization provides affordable housing for low-income elderly individuals. The Menorah Center Foundation also offers program support to this 501(c)(3), contributing to its charitable mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 73%)
The Menorah Center Foundation Inc, operating as the Benjamin Tower Foundation, holds a "Needs Improvement" rating from Charity Navigator, reflecting an overall score of 73%. The organization demonstrates strong governance practices, evidenced by an independent board with complete scoring on board member independence and board size. Additionally, their financial health is solid, with a low liabilities to assets ratio and a high program expense ratio, indicating that the majority of their funding is directed towards their programs.
However, the organization has notable gaps in its accountability measures. Key policies, such as a conflict of interest policy, a whistleblower policy, and document retention and destruction policy, are missing, which contributed to the lower overall score. Furthermore, the absence of a publicly posted tax form on their website raises transparency concerns among stakeholders.
While the foundation showcases strengths in financial management and governance, the lack of essential policies and documentation could hinder its overall accountability and effectiveness. Addressing these issues could enhance their rating and public trust in their operations.
This AI summary has been generated from information found on Charity Navigator.
Is Menorah Center Foundation Inc legitimate?
Menorah Center Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Menorah Center Foundation 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: $6,740
For more financial information, click here
What is the mission statement of Menorah Center Foundation Inc?
The Menorah Center Foundation Inc, doing business as Benjamin Tower Foundation, is dedicated to supporting the charitable mission of Menorah Center, Inc. Specifically, their mission involves raising funds and providing program support to a related 501(c)(3) organization. This organization focuses on providing housing to low-income elderly individuals. By doing so, the Menorah Center Foundation contributes to the betterment of these individuals' living situations.
What is the revenue of Menorah Center Foundation Inc?
Menorah Center Foundation Inc's revenue in 2024 was $45,845.
Who are the executives of Menorah Center Foundation Inc and what are their salaries?
There 4 volunteers at Menorah Center Foundation Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Menorah Center Foundation Inc?
Menorah Center Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Menorah Center Foundation Inc
Menorah Center Foundation Inc Dba Benjamin Tower Foundation is an organization dedicated to supporting the charitable mission of Menorah Center, Inc. In essence, its mission is to contribute financially to the related 501(c)(3) organization, with the ultimate goal of securing a loan for improvements. This loan will be utilized to enhance facilities that provide housing for low-income elderly individuals. Furthermore, the foundation also offers program support to this related organization, ensuring its continued operation and ability to provide essential services to its community. By doing so, Menorah Center Foundation Inc Dba Benjamin Tower Foundation plays a crucial role in supporting the well-being of the elderly population, providing them with a safe and comfortable living environment.
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Impact
August, 2024
Menorah Center Foundation Inc Dba Benjamin Tower Foundation's impact is focused on supporting the housing needs of low-income elderly individuals. The foundation raises funds to provide program support to the related 501(c)(3) organization, which offers housing to this vulnerable population in need. By helping to collateralize loans for improvements, the foundation plays a crucial role in ensuring that these individuals have access to safe and affordable housing, ultimately contributing to their well-being and quality of life.
This information is meant to be a general summary of Menorah Center Foundation 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: $35,328
- Gross Receipts: $45,845
Assets and Liabilities:
- Total Assets: $1,294,502
- Total Liabilities: $1,152
- Net Assets: $1,293,350
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Organization Details
Founding Year
1998
Principal Officer
Karen Sher
NTEE Category
Code: P75 - Human services
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