Overview
What is Promise Of Hope Foundation Inc?
Promise of Hope Foundation Inc, based on the provided information, is a nonprofit organization dedicated to organizing fundraising events and charitable donations. Their primary objective is to provide assistance, encouragement, and support to individuals and organizations in need due to financial hardships, sickness, or natural disasters. By hosting these fundraising events, they aim to raise revenue to contribute to these needy individuals, offering them a lifeline during challenging times. The foundation also extends its charitable contributions to help corporations in need, demonstrating a broad scope of support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Stars
The Promise of Hope Foundation Inc has received a low rating of 52%, which translates to a One-Star score primarily due to its accountability and financial practices. The organization lacks independent board members, which raises concerns about governance and oversight. Additionally, it has not made its financial statements available to the public, further impacting transparency.
While the organization does have some positive aspects, such as a conflict of interest policy and documentation of board meeting minutes, these are overshadowed by significant weaknesses. It also failed to list its website on the tax form, and there is an absence of financial transparency, notably in terms of program expenses, which only accounted for 60.72% of its total expenditures.
Overall, the Promise of Hope Foundation Inc's reliance on a non-independent board and lack of publicly accessible financial documents suggest a need for improvement in governance and accountability. Prospective donors may want to consider these factors when deciding on support.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Of Hope Foundation Inc legitimate?
Promise Of Hope Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Of Hope 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
What is the mission statement of Promise Of Hope Foundation Inc?
The Promise of Hope Foundation Inc. is committed to organizing fundraising events with the primary goal of generating revenue. This revenue is then utilized to provide assistance and support to individuals who are experiencing financial hardship, illness, or have been affected by natural disasters. By hosting these events, the foundation aims to provide encouragement and contribute charitable contributions to help those in need, whether they are individuals or corporations. The foundation's activities are focused on raising funds to make a positive impact on the lives of those who are struggling.
Who is the CEO of Promise Of Hope Foundation Inc?
Michael Vandenburg is the President of Promise Of Hope Foundation Inc.
What is the revenue of Promise Of Hope Foundation Inc?
Promise Of Hope Foundation Inc's revenue in 2022 was $543,943.
Who are the executives of Promise Of Hope Foundation Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Promise Of Hope Foundation Inc?
Promise Of Hope Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Promise Of Hope Foundation Inc
The Promise of Hope Foundation Inc, as stated in its mission description, is dedicated to organizing fundraising events with the primary goal of raising charitable contributions. This nonprofit aims to provide assistance, encouragement, and support to individuals and organizations that are experiencing financial hardship, illness, or have been affected by natural disasters. By hosting these events, the Foundation seeks to collect revenue that can be distributed to those in need, offering a helping hand during challenging times. The mission of the Promise of Hope Foundation Inc is to extend a hand of aid to the less fortunate, providing a beacon of hope during periods of adversity.
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Impact
July, 2024
The Promise Of Hope Foundation Inc's impact is significant in providing assistance, encouragement, and support to organizations and individuals in need. Through organizing fundraising events and charitable donations, the foundation raises revenue to contribute to needy individuals facing financial hardship, sickness, or natural disasters. By mobilizing resources through these events, the foundation is able to help individuals and corporations facing challenges and provide essential support to those in need.
This information is meant to be a general summary of Promise Of Hope 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.
- Gross Receipts: $543,943
Assets and Liabilities:
- Total Assets: $63,208
- Total Liabilities: $0
- Net Assets: $63,208
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Organization Details
Principal Officer
Michael Vandenburg
Main Address
20 35th Street, Copiague, NY, 11726
NTEE Category
Code: P20 - Human services
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