Overview
What is Business Industry Foundation Of Western Connecticut Inc?
Business Industry Foundation of Western Connecticut Inc is a nonprofit organization dedicated to fostering understanding and progress in economic matters, public concerns, job training, and economic development and planning. Their mission involves the advancement and dissemination of knowledge in these areas, aiming to contribute positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (58%)
The Business Industry Foundation of Western Connecticut Inc has received a One-Star rating from Charity Navigator, reflecting a score of 58%. This rating is primarily derived from their Accountability & Finance performance, which indicates some challenges in financial management despite some strengths in governance and transparency.
The foundation exhibits commendable practices with a fully independent board, achieving top scores in areas like independent board members, board size, and documentation of board meeting minutes. Their program expense ratio is notably high at 97.37%, suggesting that a significant portion of their expenditures is directed towards their mission-related programs.
However, the organization struggles with its Liabilities to Assets Ratio, scoring poorly at 0 out of 15 points. This indicates potential financial sustainability concerns, which could impact the foundation's ability to fulfill its mission effectively over the long term. The overall performance suggests that while there are positive aspects to the foundation's operations, serious financial management issues need to be addressed.
This AI summary has been generated from information found on Charity Navigator.
Is Business Industry Foundation Of Western Connecticut Inc legitimate?
Business Industry Foundation Of Western Connecticut Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Business Industry Foundation Of Western Connecticut 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:
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What is the mission statement of Business Industry Foundation Of Western Connecticut Inc?
The Business Industry Foundation of Western Connecticut Inc. is committed to promoting the advancement and dissemination of knowledge and comprehension in the realm of economics, matters of public concern, job training, and economic development and planning. Their mission encompasses fostering understanding in these areas, providing job training opportunities, and contributing to economic growth and planning strategies.
What is the revenue of Business Industry Foundation Of Western Connecticut Inc?
Business Industry Foundation Of Western Connecticut Inc's revenue in 2023 was $56,971.
Who are the executives of Business Industry Foundation Of Western Connecticut Inc and what are their salaries?
There 21 volunteers at Business Industry Foundation Of Western Connecticut Inc.
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Where can I find the form 990 for Business Industry Foundation Of Western Connecticut Inc?
Business Industry Foundation Of Western Connecticut Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Business Industry Foundation Of Western Connecticut Inc
The Business Industry Foundation of Western Connecticut Inc is committed to promoting the advancement and dissemination of knowledge and understanding in various aspects. Their primary focus is on economics, which they recognize as a matter of public concern. Additionally, they are dedicated to job training and economic development and planning. By undertaking these activities, the foundation aims to contribute significantly to the broader community.
In essence, the mission of Business Industry Foundation of Western Connecticut Inc revolves around spreading awareness and educating individuals about economics. Their objective is to empower people with the necessary understanding to make informed decisions regarding economic matters. Beyond this, they are also invested in job training, equipping individuals with the skills required to secure employment and contribute to the economy. Lastly, they are committed to fostering economic development and planning, working towards the betterment of their community through sustainable growth strategies.
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Impact
August, 2024
Business Industry Foundation Of Western Connecticut Inc has a significant impact on the community by advancing and diffusing knowledge and understanding of economics, matters of public concern, job training, and economic development and planning. Through its mission, the organization plays a vital role in promoting community improvement, fostering economic growth, and providing valuable training opportunities. Its dedication to these important areas helps empower individuals and businesses, ultimately contributing to a stronger and more prosperous society.
This information is meant to be a general summary of Business Industry Foundation Of Western Connecticut 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.
- Gross Receipts: $90,728
Assets and Liabilities:
- Total Assets: $78,536
- Total Liabilities: $78,716
- Net Assets: -$180
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Organization Details
Founding Year
2002
Principal Officer
Pj Prunty
NTEE Category
Code: S30 - Community improvement
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