Overview
What is Msbgc-Nyc Support Corporation?
Msbgc-Nyc Support Corporation is a nonprofit organization situated in New York, NY. Its primary purpose is to support Madison Square Boys and Girls Club, Inc., contributing significantly to a New Markets Tax Credit (NMTC) financing project for the construction of the Pinkerton Clubhouse in Harlem. The corporation, led by Tim Mcchristian, plays an essential role in furthering the mission of Madison Square Boys and Girls Club, Inc., aiming to provide a safe and enriching environment for youth in the Harlem community.
Official website here: www.madisonsouare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43%, Zero-Star out of Four Star rating.
Msbgc-Nyc Support Corporation has received a low score primarily due to its Accountability & Finance metrics, which are crucial for assessing the organization’s financial health and transparency. While the charity has strong independent board member representation and a clear conflict of interest policy, it lacks essential policies such as a whistleblower and document retention policy, which can undermine its accountability.
The organization's liabilities to assets ratio is notably high at 90.89%, indicating potential financial concerns, and it has reported a program expense ratio of 0.00%. This suggests that the organization may not be effectively allocating resources towards its programmatic efforts, which raises questions about its overall impact and effectiveness in serving its mission.
Despite some strengths in governance, such as an independent board and transparency in certain areas, the significant weaknesses identified in policies and financial management contribute to its unfavorable rating. Potential donors and supporters should carefully consider these factors when evaluating the effectiveness and reliability of Msbgc-Nyc Support Corporation.
This AI summary has been generated from information found on Charity Navigator.
Is Msbgc-Nyc Support Corporation legitimate?
Msbgc-Nyc Support Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Msbgc-Nyc Support Corporation 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.madisonsouare.org
What is the mission statement of Msbgc-Nyc Support Corporation?
The Msbgc-Nyc Support Corporation's primary mission is to aid the Madison Square Boys and Girls Club, Inc. This support is primarily facilitated through participation in a New Markets Tax Credit (NMTC) financing transaction, specifically for the construction of the Pinkerton Clubhouse. The corporation's activities are geared towards enhancing the capabilities and facilities of the Boys and Girls Club, thereby contributing to the well-being and development of the youth it serves.
Official website here: www.madisonsouare.org
Who is the CEO of Msbgc-Nyc Support Corporation?
Tim Mcchristian is the Chief Executive Officer of Msbgc-Nyc Support Corporation. The CEO's salary of Msbgc-Nyc Support Corporation is $0 and their total compensation is $438,083.
Official website here: www.madisonsouare.org
What is the revenue of Msbgc-Nyc Support Corporation?
Msbgc-Nyc Support Corporation's revenue in 2022 was -$1,034,027.
Official website here: www.madisonsouare.org
Who are the executives of Msbgc-Nyc Support Corporation and what are their salaries?
There are 2 employees and 5 volunteers at Msbgc-Nyc Support Corporation.
Here are 9 key members and their salaries (Msbgc-Nyc Support Corporation's CEO's salary is $0 and their total compensation is $438,083):
- Compensation: $0
- Related: $366,347
- Other: $71,736
- Compensation: $0
- Related: $245,210
- Other: $68,629
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.madisonsouare.org
Where can I find the form 990 for Msbgc-Nyc Support Corporation?
Msbgc-Nyc Support Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisonsouare.org
Learn more at the official website: www.madisonsouare.org
Mission Statement of Msbgc-Nyc Support Corporation
Msbgc-Nyc Support Corporation, a not-for-profit organization, plays a significant role in supporting Madison Square Boys and Girls Club, Inc. The primary mission of Msbgc-Nyc Support Corporation is to contribute to this esteemed institution, mainly through participating in a New Markets Tax Credit (NMTC) financing transaction. This collaboration is instrumental in the construction of the Pinkerton Clubhouse in Harlem, an initiative aimed at enhancing the facilities and services provided by Madison Square Boys and Girls Club, Inc.
By participating in this NMTC financing transaction, Msbgc-Nyc Support Corporation is essentially investing in the future of children and youth in Harlem. The construction of the Pinkerton Clubhouse will provide a safe and enriching environment for these individuals, offering them opportunities for education, extracurricular activities, and personal growth. The corporation's involvement in this project underscores its commitment to supporting Madison Square Boys and Girls Club, Inc. and promoting the well-being of the community's young members.
In conclusion, Msbgc-Nyc Support Corporation's mission is to strengthen and enhance the capabilities of Madison Square Boys and Girls Club, Inc. by participating in NMTC financing transactions, such as the construction of the Pinkerton Clubhouse in Harlem. This commitment to supporting the club and its mission demonstrates Msbgc-Nyc Support Corporation's dedication to fostering the development and growth of young people in the community.
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Impact
October, 2024
Msbgc-Nyc Support Corporation plays a significant role in promoting youth development by facilitating the construction of the Pinkerton Clubhouse in Harlem through its involvement in a New Markets Tax Credit (NMTC) financing transaction. This support enables the Madison Square Boys and Girls Club, Inc. to expand its facilities and resources, directly benefiting the youth in the community. By contributing to the establishment of the Pinkerton Clubhouse, the corporation provides a safe and supportive environment for children and teenagers, fostering their growth, education, and overall well-being. The initiatives backed by MSBGC-NYC Support Corporation help empower the next generation in a region that greatly benefits from additional youth-focused programs and opportunities.
This information is meant to be a general summary of Msbgc-Nyc Support Corporation. 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: $140
- Gross Receipts: $463,140
Assets and Liabilities:
- Total Assets: $40,613,917
- Total Liabilities: $36,915,247
- Net Assets: $3,698,670
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Organization Details
Founding Year
2017
Phone
(212) 760-9600Principal Officer
Tim Mcchristian
Main Address
250 BRADHURST AVENUE, NEW YORK, NY, 10039
Website
www.madisonsouare.orgNTEE Category
Code: O11 - Youth development
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