Overview
What is The Reece Foundation Corp?
The Reece Foundation Corp is a nonprofit organization situated in New York, specifically at 25 East 104th Street. Their primary mission is to support children with autism, learning disabilities, and special needs, in collaboration with the Reece School. They manage an endowment fund and fundraise for additional resources to provide various services. These services include Camp Reece, a summer program, and an after-school program for students of the Reece School. The foundation's goals are to provide a nurturing environment and educational opportunities for these children, aiming to enhance their overall development and well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
The Reece Foundation Corp has received a low rating of 54%, which indicates concerns regarding its financial practices and overall accountability. While the organization has strengths in governance, such as having 100% independent board members and a comprehensive conflict of interest policy, its financial metrics raise significant flags. The program expense ratio stands at just 47.10%, suggesting that less than half of its expenditures go directly to programs, which is a critical factor for evaluating nonprofit effectiveness.
Additionally, the organization has a very high liabilities to assets ratio of 92.26%, reflecting potential financial instability. This ratio indicates that the majority of the foundation's assets are tied up in liabilities, which could undermine its operational sustainability. While the foundation demonstrates compliance in several governance policies, such as having a whistleblower and document retention policy, the financial health of the organization remains a significant area of concern.
In summary, while The Reece Foundation Corp shows commendable governance practices with a highly independent board and solid policies in place, its financial metrics are troubling. Prospective donors and stakeholders should consider these factors carefully before making contributions or engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is The Reece Foundation Corp legitimate?
The Reece Foundation Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Reece Foundation Corp 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: $743
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of The Reece Foundation Corp?
The Reece Foundation Corp is a non-profit organization dedicated to assisting children with autism, learning disabilities, and special needs. They manage an endowment fund and raise additional funds to oversee a network of mission-based services. This network collaborates with The Reece School to provide support for these children. The services offered by The Reece Foundation include Camp Reece, a summer camp program, and an after-school program for students of The Reece School. The foundation's mission is to aid these children in their learning and development.
Who is the CEO of The Reece Foundation Corp?
Duncan Lester is the Chairman of The Reece Foundation Corp.
What is the revenue of The Reece Foundation Corp?
The Reece Foundation Corp's revenue in 2022 was $212,866.
Who are the executives of The Reece Foundation Corp and what are their salaries?
There 5 volunteers at The Reece Foundation Corp.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $218,864
- Other: $49,332
- Compensation: $0
- Related: $153,735
- Other: $6,010
Where can I find the form 990 for The Reece Foundation Corp?
The Reece Foundation Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Reece Foundation Corp
The Reece Foundation Corp is a nonprofit organization committed to assisting children with autism, learning disabilities, and special needs. In pursuit of this mission, the foundation manages an endowment fund, raises additional funds, and oversees a network of mission-based services. These services collaborate with The Reece School to provide support for children with these challenges.
One of the key initiatives under The Reece Foundation's umbrella is Camp Reece, a summer camp program. This camp provides a nurturing environment where children can enjoy various activities, fostering social skills and personal growth. Additionally, the foundation offers an after-school program for students attending The Reece School. This program extends the educational and support services provided during the school day, ensuring that children continue to benefit from a comprehensive learning environment.
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Impact
October, 2024
The Reece Foundation Corp significantly impacts the lives of children with learning disabilities and special needs, particularly in New York. Through its partnership with The Reece School, the foundation provides essential services designed to support and empower these children.
Key initiatives include Camp Reece, a summer camp that offers a safe and engaging environment where children can grow, learn, and socialize while participating in activities tailored to their unique needs. Additionally, the after-school program extends support beyond regular school hours, ensuring that students have continuous access to educational resources and social engagement.
Overall, The Reece Foundation Corp plays a crucial role in fostering an inclusive environment, helping children with autism and learning disabilities develop critical skills and confidence while allowing their families to feel supported in their journey. By managing an endowment fund and raising new resources, the foundation ensures that these vital programs continue to thrive, making a lasting impact on the community it serves.
This information is meant to be a general summary of The Reece Foundation Corp. 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.
- Program Service Revenue: $120,565
- Gross Receipts: $212,866
Assets and Liabilities:
- Total Assets: $528,923
- Total Liabilities: $590,050
- Net Assets: -$61,127
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUMMER CAMP PROGRAM
Revenue
$120,465
AFTER SCHOOL PROGRAM
Revenue
$100
Organization Details
Founding Year
2017
Phone
(212) 289-4872Principal Officer
Duncan Lester
Main Address
25 EAST 104TH STREET, NEW YORK, NY, 10029
NTEE Category
Code: T12 - Philanthropy
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