Overview
What is The Fregenet Foundation?
The Fregenet Foundation is a nonprofit organization based in Los Angeles, California, with a mission to provide quality early childhood education to underprivileged children in Ethiopia. Established in 2004, the foundation has grown from serving 31 students to over 500, catering predominantly to children from single-parent households, unemployed families, or families with precarious employment. The Foundation ensures a fair selection process and adheres to a nondiscrimination policy. It operates various classes, including pre-Kindergarten, with a student-teacher ratio of 2:30, and provides free education, meals, uniforms, and school supplies to its students. The Fregenet Foundation aims to combat poverty and gender inequality by offering a comprehensive, affordable educational experience to disadvantaged children in Ethiopia.
Official website here: www.fregenetfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
The Fregenet Foundation has achieved an impressive 97% rating from Charity Navigator, indicating a strong commitment to accountability and financial management. The rating is based entirely on the Accountability & Finance beacon, reflecting the organization's dedication to transparency and responsible fund usage. The perfect scores in areas such as independent board members and the absence of material diversion of assets further underscore their strong governance.
The foundation boasts a fully independent board with five members, ensuring that decisions are made without conflicts of interest. Their policies are well-documented, including conflict of interest and whistleblower protections, demonstrating a robust framework for ethical operations. The high program expense ratio of 97.15% signifies that the majority of their funds are directed towards their programs rather than administrative costs.
Overall, The Fregenet Foundation showcases exemplary practices in nonprofit governance and financial oversight. Such high scores and adherence to rigorous standards suggest that donors can have confidence in the foundation's operations and impact.
This AI summary has been generated from information found on Charity Navigator.
Is The Fregenet Foundation legitimate?
The Fregenet Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Fregenet 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.
Heare are some key statistics you may want to consider:
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Official website here: www.fregenetfoundation.org
What is the mission statement of The Fregenet Foundation?
The Fregenet Foundation's mission is centered around providing educational opportunities for underprivileged children in Ethiopia. Their goal is to combat poverty and gender inequality among these children by offering high-quality early education. To achieve this, the foundation constructs schools with lower teacher-to-student ratios (2:30) and provides various resources for free, including meals, uniforms, books, transportation, and even a free pre-kindergarten and Kindergarten program. The foundation's aim is to empower these children and equip them with the necessary tools to overcome their disadvantaged circumstances.
Official website here: www.fregenetfoundation.org
What is the revenue of The Fregenet Foundation?
The Fregenet Foundation's revenue in 2024 was $30,874.
Official website here: www.fregenetfoundation.org
Who are the executives of The Fregenet Foundation and what are their salaries?
Here are 4 key members and their salaries:
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Official website here: www.fregenetfoundation.org
Where can I find the form 990 for The Fregenet Foundation?
The Fregenet Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.fregenetfoundation.org
Learn more at the official website: www.fregenetfoundation.org
Mission Statement of The Fregenet Foundation
The Fregenet Foundation, a dedicated nonprofit organization, is committed to providing educational opportunities for underprivileged children in Ethiopia. Recognizing the interconnectedness of poverty and gender inequality, the Foundation aims to overcome these challenges by offering high-quality early education. To accomplish this, they construct schools with a lower teacher-student ratio, ensuring personalized attention for each child. The Foundation provides a comprehensive range of resources, including meals, uniforms, books, transportation, and education, all absolutely free of charge. This inclusive approach extends even to the early stages of education, with the provision of a free pre-kindergarten and Kindergarten program. In essence, The Fregenet Foundation strives to level the playing field for disadvantaged children, empowering them to break the cycle of poverty and inequality through education.
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Impact
August, 2024
The Fregenet Foundation's impact can be seen in the educational opportunities it provides to underserved children in Ethiopia. By offering high-quality early education for children from low-income families, the Foundation addresses poverty and gender inequality. Through its schools with a lower teacher-student ratio and comprehensive support including free meals, uniforms, books, transportation, and education, The Fregenet Foundation makes a substantial difference in the lives of these disadvantaged children. The Foundation's work not only equips these children with essential academic skills but also empowers them to break the cycle of poverty and achieve a brighter future.
This information is meant to be a general summary of The Fregenet 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 2024.
- Gross Receipts: $30,874
Assets and Liabilities:
- Total Assets: $83,555
- Total Liabilities: $0
- Net Assets: $83,555
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Organization Details
Founding Year
2004
Principal Officer
Elizabeth Asrat
Website
www.fregenetfoundation.orgNTEE Category
Code: B24 - Education
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