Overview
What is Phi Mu Foundation Inc?
Phi Mu Foundation Inc, based in Peachtree City, Georgia, is a nonprofit organization dedicated to the lifelong development of women. They achieve this mission by granting scholarships, offering member assistance, and supporting leadership programs. Each academic year, they award over 100 scholarships, some of which are merit-based, while others are need-based or have specific criteria such as chapter affiliation, field of study, state of residence, or college. In addition, the foundation provides emergency grants for Phi Mu Fraternity members experiencing financial hardship due to natural disasters, medical emergencies, or personal crises. Furthermore, the foundation supports Phi Mu Fraternity's initiatives by funding premier, values-based programs like Greek Life Edu, Phi Mu Leadership Institute, and the Chapter Consultant Program. With a staff of eight, Phi Mu Foundation Inc plays a significant role in the education and empowerment of women.
Official website here: www.phimufoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating.
The Phi Mu Foundation Inc has received a low score of 56%, which indicates significant concerns regarding its financial accountability and operational transparency. While the organization has a fully independent board and adheres to several governance best practices, such as having conflict of interest and whistleblower policies in place, it struggles with financial efficiency, as demonstrated by its low program expense ratio of 47.34%.
The foundation's financial statements indicate a low liabilities to assets ratio of 0.14%, but this may raise questions about its overall financial health. Moreover, the absence of the tax form on the nonprofit's website is a notable gap in transparency that affects its rating. Despite having strong governance structures, the lack of adequate program expenses and the missing tax documentation contribute to its one-star rating, highlighting areas for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Phi Mu Foundation Inc legitimate?
Phi Mu Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Phi Mu 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: $110,217
Professional Fundraising Fees: $0
Other Salaries and Wages: $450,885
For more financial information, click here
Official website here: www.phimufoundation.org
What is the mission statement of Phi Mu Foundation Inc?
The Phi Mu Foundation's mission is centered around the lifelong development of women. This is achieved through supporting various programs that focus on leadership, scholarship, philanthropy, education, and historical preservation. The organization awards over 100 scholarships annually, both merit-based and need-based, and provides emergency grants for members facing financial distress due to various personal or family issues. Additionally, the Foundation supports educational and leadership initiatives by granting funds to Phi Mu Fraternity for the development of valuable programs.
Official website here: www.phimufoundation.org
Who is the CEO of Phi Mu Foundation Inc?
Kristin Tofanelli is the Executive Di of Phi Mu Foundation Inc.
Official website here: www.phimufoundation.org
What is the revenue of Phi Mu Foundation Inc?
Phi Mu Foundation Inc's revenue in 2022 was $1,619,138.
Official website here: www.phimufoundation.org
Who are the executives of Phi Mu Foundation Inc and what are their salaries?
The average compensation at Phi Mu Foundation Inc during 2022 was $70,138. There are 8 employees and 74 volunteers at Phi Mu Foundation Inc.
Here are 14 key members and their salaries:
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Official website here: www.phimufoundation.org
Where can I find the form 990 for Phi Mu Foundation Inc?
Phi Mu Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.phimufoundation.org
Learn more at the official website: www.phimufoundation.org
Mission Statement of Phi Mu Foundation Inc
Phi Mu Foundation Inc is dedicated to fostering the lifelong growth and development of women. This is accomplished through the support of Phi Mu's leadership, scholarship, philanthropic, educational programs, and historic preservation initiatives. The foundation awards over 100 graduate and undergraduate scholarships annually, with some scholarships being specific to certain chapters, fields of study, states, or colleges. The scholarships can be merit-based or need-based, providing financial assistance to Phi Mu Fraternity members who encounter financial distress due to various personal or family issues.
In addition to the scholarship programs, Phi Mu Foundation Inc also offers emergency grants to assist collegiate and alumnae members facing challenges such as natural disasters, medical emergencies, or severe personal or family issues. Furthermore, the foundation supports the educational and leadership initiatives of Phi Mu Fraternity by providing grants for the development of premier, values-based programming. This includes programs like Greek Life Ed, Phi Mu Leadership Institute, and the Chapter Consultant Program. By investing in these initiatives, Phi Mu Foundation Inc contributes to the personal and professional growth of its members, promoting a lifetime of development and opportunities.
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Impact
July, 2024
Phi Mu Foundation Inc's impact is significant in supporting the lifetime development of women through its leadership, scholarship, philanthropic, educational programs, and historic preservation initiatives. The Foundation awards over 100 graduate and undergraduate scholarships each academic year, providing opportunities for women to further their education and achieve their goals. Additionally, the Foundation offers emergency grants to members facing financial distress due to various circumstances, ensuring they have the support they need to overcome challenges.
Furthermore, Phi Mu Foundation Inc contributes to educational and leadership initiatives by awarding grants to Phi Mu Fraternity for the development of values-based programming such as Greek Life Edu, Phi Mu Leadership Institute, and the Chapter Consultant Program. By investing in these programs, the Foundation empowers women to enhance their leadership skills and make a positive impact in their communities. Overall, Phi Mu Foundation Inc plays a crucial role in advancing women's education, leadership development, and personal growth.
This information is meant to be a general summary of Phi Mu 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 2022.
- Investment Income: $134,718
- Gross Receipts: $3,721,351
Assets and Liabilities:
- Total Assets: $11,103,093
- Total Liabilities: $59,352
- Net Assets: $11,043,741
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Organization Details
Founding Year
1957
Phone
(770) 632-2090Principal Officer
Kristin Tofanelli
Main Address
400 WESTPARK DRIVE, PEACHTREE CITY, GA, 30269
Website
www.phimufoundation.orgNTEE Category
Code: B83 - Education
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