Overview
What is The Lily Foundation Of America Inc?
The Lily Foundation of America Inc, located in Dallas, Texas, is a nonprofit organization dedicated to supporting the education of underprivileged individuals. Their primary mission is to provide financial assistance in the form of education grants to eligible students in need. This charity, which also operates in India, aims to help both disabled and elderly individuals by offering educational opportunities. Their activities revolve around offering financial aid to poor students, thereby contributing to their overall development and better future prospects.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
The Lily Foundation of America Inc has received a Two-Star rating, indicating a mixed performance in terms of financial health and accountability. The organization scored well in several areas, notably earning full points for its majority independent board members and documenting board meeting minutes. Additionally, it boasts an impressive program expense ratio of 95.27%, demonstrating a strong commitment to directing funds toward its mission.
However, despite these strengths, the overall rating reflects some concerns regarding its financial practices or transparency, as evidenced by the median score of 73. While the foundation has a sound liabilities to assets ratio of 0.00%, suggesting it has no debt, the lack of a higher overall rating signals potential areas for improvement. Stakeholders might consider these factors when evaluating the foundation's effectiveness and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is The Lily Foundation Of America Inc legitimate?
The Lily Foundation Of America Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lily Foundation Of America 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.
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Other Salaries and Wages: $0
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What is the mission statement of The Lily Foundation Of America Inc?
The Lily Foundation of America Inc. is dedicated to providing educational grant assistance to economically disadvantaged students. The organization's primary goal is to ensure that financial constraints do not hinder a student's educational journey. It achieves this mission by offering free educational grants to eligible students. Furthermore, The Lily Foundation extends its support to charitable organizations in India that cater to the needs of the disabled and elderly population. In essence, the foundation's mission is centered around promoting access to education for the underprivileged and extending humanitarian aid to vulnerable populations.
Who is the CEO of The Lily Foundation Of America Inc?
Basab Chatterjee is the President of The Lily Foundation Of America Inc.
What is the revenue of The Lily Foundation Of America Inc?
The Lily Foundation Of America Inc's revenue in 2022 was $461,406.
Who are the executives of The Lily Foundation Of America Inc and what are their salaries?
There 3 volunteers at The Lily Foundation Of America Inc.
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Where can I find the form 990 for The Lily Foundation Of America Inc?
The Lily Foundation Of America Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Lily Foundation Of America Inc
The Lily Foundation of America Inc is dedicated to providing educational grants and assistance to financially struggling students. Their main purpose is to alleviate the financial burden of education for those in need, ensuring that they have an equal opportunity to pursue their academic goals. To achieve this, the foundation extends its support to both individual students and organizations that cater to the needs of disadvantaged populations, such as the disabled and the elderly. By providing free education, The Lily Foundation of America Inc contributes to the betterment of society, fostering a more educated and informed community.
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Impact
July, 2024
The Lily Foundation Of America Inc's impact lies in providing education grant assistance to underprivileged students, particularly in supporting disabled and elderly individuals. Through free education initiatives and grants, the organization aims to empower those in need, ultimately contributing to a more equitable and educated society.
This information is meant to be a general summary of The Lily Foundation Of America 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: $1,569
- Gross Receipts: $461,406
Assets and Liabilities:
- Total Assets: $537,170
- Total Liabilities: $0
- Net Assets: $537,170
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Organization Details
Founding Year
2000
Principal Officer
Basab Chatterjee
Main Address
P O BOX 59824, DALLAS, TX, 75229
NTEE Category
Code: B92 - Education
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