Overview
What is The Cosac Foundation Inc?
The Cosac Foundation Inc, located in Davie, Florida, is a nonprofit organization that aims to enhance the lives of the poor and homeless in their community. They have developed a unique funding tool, the "Homeless Voice Newspaper," which employs homeless individuals, providing them with income to sustain themselves. Through this newspaper, the foundation advocates on behalf of the homeless population, educating the public about the true nature of homelessness and promoting ways to eliminate the associated bias. The foundation serves as a last resort for many desperate individuals in Florida, offering a model for homeless facilities to assist those in need. With a workforce of three dedicated individuals, The Cosac Foundation Inc is committed to improving the self-esteem and sense of worth of the homeless population during their challenging times.
Official website here: www.homelessvoice.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating.
The Cosac Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored low primarily due to the absence of financial statements and other key documentation, which are essential for transparency and trust in nonprofits. However, it does have a fully independent board, demonstrating a commitment to governance.
Despite the challenges in financial documentation, the foundation shows a strong program expense ratio of nearly 89%, suggesting that a considerable portion of its resources is directed toward its charitable activities. This might indicate that the organization prioritizes its mission, even as it struggles with transparency issues.
On the downside, the foundation lacks crucial policies such as a whistleblower policy and does not maintain documented board meeting minutes, which could affect its overall governance effectiveness. The high liabilities to assets ratio further raises concerns about its financial stability, making it essential for potential donors to consider these factors before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is The Cosac Foundation Inc legitimate?
The Cosac Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Cosac 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: $237,223
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.homelessvoice.org
What is the mission statement of The Cosac Foundation Inc?
The Cosac Foundation's mission is centered around improving the quality of life for those experiencing poverty and homelessness. They aim to serve as a model for homeless facilities, providing assistance to individuals and families in need. The foundation serves as a last resort for many desperate individuals in Florida. One of their significant initiatives is the Homeless Newspaper, a funding tool that employs homeless individuals, providing them with income to survive. This newspaper also serves as a platform for advocacy on behalf of the homeless population, educating the public about homelessness and ways to eliminate bias towards this population. The Homeless Newspaper significantly contributes to helping homeless individuals regain or maintain their self-esteem and sense of self-worth during their transition through challenging times.
Official website here: www.homelessvoice.org
Who is the CEO of The Cosac Foundation Inc?
Sean Cononie is the Cto of The Cosac Foundation Inc.
Official website here: www.homelessvoice.org
What is the revenue of The Cosac Foundation Inc?
The Cosac Foundation Inc's revenue in 2022 was $660,635.
Official website here: www.homelessvoice.org
Who are the executives of The Cosac Foundation Inc and what are their salaries?
The average compensation at The Cosac Foundation Inc during 2022 was $79,074. There are 3 employees at The Cosac Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $88,233
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
- Compensation: $77,979
- Related: $0
- Other: $0
Official website here: www.homelessvoice.org
Where can I find the form 990 for The Cosac Foundation Inc?
The Cosac Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homelessvoice.org
Learn more at the official website: www.homelessvoice.org
Mission Statement of The Cosac Foundation Inc
The Cosac Foundation Inc, a nonprofit organization, aims to improve the quality of life for the impoverished and homeless individuals in Florida. Its mission is twofold: firstly, to serve as a model for homeless facilities, providing assistance to those in need, and secondly, to be a last resort for the desperate individuals across Florida. The foundation has developed a unique funding tool in the form of a homeless newspaper, known as the "Homeless Voice Newspaper." This initiative not only serves as an advocacy platform for the homeless population but also provides employment opportunities for them, enabling them to earn an income and sustain themselves. The newspaper plays a crucial role in educating the public about the true nature of homelessness and the biases associated with this sector of society. Additionally, it empowers those affected by homelessness, helping them regain or maintain their self-esteem and sense of self-worth during challenging times.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Cosac Foundation Inc's impact is significant in improving the quality of life for the poor and homeless in Florida. They have developed innovative solutions such as the Homeless Voice Newspaper, which serves as a funding tool to employ homeless individuals and provide them with income. This initiative not only offers shelter to those in economic plight but also advocates for the homeless population and educates the public on the true nature of homelessness. By empowering those affected by homelessness to regain their self-esteem and sense of self-worth, The Cosac Foundation Inc is making a tangible difference in the lives of individuals and families in need.
This information is meant to be a general summary of The Cosac 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: $1,853
- Program Service Revenue: $475,934
- Gross Receipts: $660,635
Assets and Liabilities:
- Total Assets: $980,040
- Total Liabilities: $947,101
- Net Assets: $32,939
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE INCOME
Revenue
$475,934
Organization Details
Founding Year
1998
Phone
(954) 924-3571Principal Officer
Sean Cononie
Main Address
4611 S UNIVERSITY DR, DAVIE, FL, 33328
Website
www.homelessvoice.orgNTEE Category
Code: P50 - Human services
If you are a representative of The Cosac Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.