Overview
What is The Surety Foundation Inc?
The Surety Foundation Inc, a 501(c)(3) organization located in Washington, DC, was established to advocate for diversity within the Surety and Fidelity industry. Recognizing the importance of varied perspectives and experiences, the foundation, initiated by member companies, aims to foster an inclusive environment within the industry. It accomplishes this by offering educational and developmental opportunities to promising underrepresented students through the Surety and Fidelity Industry Intern and Scholarship Program. Furthermore, the organization develops and implements new educational and public service initiatives to promote diversity and growth within the industry.
Official website here: www.thesuretyfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Stars
The Surety Foundation Inc has achieved an impressive score of 97%, which translates to a Four-Star rating, indicating a strong performance in accountability and finance. This rating reflects the organization’s commitment to transparency and responsible management of its resources. The overall score is derived entirely from accountability metrics, showcasing a robust governance structure with 88% independent board members and strong financial health.
Strengths of the foundation include a perfect mark for its policy framework, featuring a conflict of interest policy, whistleblower policy, and document retention guidelines. Additionally, the foundation has no reported material diversion of assets, reinforcing its integrity. With a program expense ratio of 81.18%, the organization demonstrates a significant commitment to its mission-driven activities.
While the foundation exhibits strong financial practices, potential donors may still want to explore its programmatic impact and effectiveness in addressing its goals. Nevertheless, the high accountability score suggests that The Surety Foundation Inc is a trustworthy organization making effective use of its funds.
This AI summary has been generated from information found on Charity Navigator.
Is The Surety Foundation Inc legitimate?
The Surety Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Surety 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: $0
For more financial information, click here
Official website here: www.thesuretyfoundation.org
What is the mission statement of The Surety Foundation Inc?
The Surety Foundation Inc, established as a charitable organization, aims to foster diversity within the Surety and Fidelity industry. Recognizing the significance of diverse perspectives and backgrounds, the member companies of the Surety & Fidelity Association of America established this organization. The foundation's primary objective is to support the educational and developmental needs of individuals interested in pursuing a career in this field or enhancing their capabilities. This is accomplished through the provision of financial aid in the form of surety industry scholarships for underrepresented students. Additionally, the foundation develops and implements new educational and public service program initiatives to further advance the industry.
Official website here: www.thesuretyfoundation.org
What is the revenue of The Surety Foundation Inc?
The Surety Foundation Inc's revenue in 2023 was $202,989.
Official website here: www.thesuretyfoundation.org
Who are the executives of The Surety Foundation Inc and what are their salaries?
There 9 volunteers at The Surety Foundation Inc.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $473,316
- Other: $80,896
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- 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: $281,766
- Other: $48,942
Official website here: www.thesuretyfoundation.org
Where can I find the form 990 for The Surety Foundation Inc?
The Surety Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thesuretyfoundation.org
Learn more at the official website: www.thesuretyfoundation.org
Mission Statement of The Surety Foundation Inc
The Surety Foundation, established as a charitable organization, was initiated by member companies of the Surety & Fidelity Association of America. Recognizing the importance of diverse ideas and backgrounds within the Surety and Fidelity industry, this organization was created to promote equity. Its primary mission is to fund and administer educational and developmental programs, focusing on underrepresented students interested in pursuing a professional career in this field or enhancing their capabilities. The Surety Foundation achieves this objective by providing financial assistance through surety industry scholarships, thereby fostering diversity and inclusivity within the industry. Additionally, the organization develops and implements new public service program initiatives to further support its mission.
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Impact
August, 2024
The Surety Foundation Inc significantly impacts the Surety and Fidelity industry by increasing diversity within its ranks. Through scholarships and internship programs, the foundation supports underrepresented students in pursuing careers in this field. By recognizing the value of diverse backgrounds and ideas, the foundation not only provides financial assistance but also helps in developing new educational initiatives. In doing so, The Surety Foundation Inc plays a vital role in fostering inclusivity and innovation within the industry.
This information is meant to be a general summary of The Surety 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 2023.
- Investment Income: $26,152
- Gross Receipts: $536,407
Assets and Liabilities:
- Total Assets: $1,102,468
- Total Liabilities: $0
- Net Assets: $1,102,468
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Organization Details
Founding Year
2005
Principal Officer
Larry Taylor
Website
www.thesuretyfoundation.orgNTEE Category
Code: T31 - Philanthropy
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