Overview
What is Bona Fide Conglomerate Inc?
Bona Fide Conglomerate Inc is a nonprofit organization situated in La Mesa, California. Their primary mission is to empower individuals with severe disabilities by offering educational programs, training, and job placement opportunities. The organization believes in breaking the employment barrier for these individuals, enabling them to integrate into the community through practical, real-world job experience. With a dedicated workforce of 113 employees, Bona Fide Conglomerate Inc is committed to fostering self-sufficiency and promoting inclusivity in the workforce.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: One-Star out of Four Stars (50%)
Bona Fide Conglomerate Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. With a score of 50%, the organization exhibits deficiencies in transparency, including a lack of independent board members and missing essential policies such as conflict of interest and whistleblower protections. Furthermore, the absence of financial statements and board meeting minutes raises questions about governance and oversight.
Despite these issues, the organization demonstrates a relatively strong program expense ratio of 69.64%, which suggests that a substantial portion of its expenses is directed towards its programs rather than administrative costs. However, the high salary of the CEO, reported at $950,000, may prompt scrutiny regarding compensation relative to the organization's overall financial health and mission effectiveness.
Overall, the lack of key financial documentation and governance structures, combined with a high executive salary, creates an unfavorable impression for potential donors. Stakeholders are advised to carefully consider these factors before contributing to Bona Fide Conglomerate Inc.
This AI summary has been generated from information found on Charity Navigator.
Is Bona Fide Conglomerate Inc legitimate?
Bona Fide Conglomerate Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bona Fide Conglomerate 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: $950,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,865,771
For more financial information, click here
What is the mission statement of Bona Fide Conglomerate Inc?
Bona Fide Conglomerate Inc's mission is centered around empowering individuals with mental and physical disabilities. The organization provides them with practical, real-world job training, preparing them for integration into the community workforce. This is complemented by active job placement services, enabling these individuals to secure employment opportunities despite their challenges. The organization's dedication extends to educating, training, and advocating for these often overlooked job seekers, aiming to break the cycle of unemployment due to severe disabilities.
Who is the CEO of Bona Fide Conglomerate Inc?
Ruben A Lopez is the President & Ceo of Bona Fide Conglomerate Inc. The CEO's salary of Bona Fide Conglomerate Inc is $950,000 and their total compensation is $950,000.
What is the revenue of Bona Fide Conglomerate Inc?
Bona Fide Conglomerate Inc's revenue in 2022 was $5,676,609.
Who are the executives of Bona Fide Conglomerate Inc and what are their salaries?
The average compensation at Bona Fide Conglomerate Inc during 2022 was $33,768. There are 113 employees at Bona Fide Conglomerate Inc.
Here are 3 key members and their salaries (Bona Fide Conglomerate Inc's CEO's salary is $950,000 and their total compensation is $950,000):
- Compensation: $950,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bona Fide Conglomerate Inc?
Bona Fide Conglomerate Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bona Fide Conglomerate Inc
Bona Fide Conglomerate Inc, a not-for-profit organization, is dedicated to making a significant impact in the lives of mentally and physically handicapped individuals. Their primary mission is to provide these individuals with practical, real-world job training and facilitate their integration into the community through job placement. By doing so, they aim to empower those who may otherwise struggle to secure employment due to their disabilities. The organization's approach involves a comprehensive strategy that includes education, training, and strategic job placement, thereby enabling these individuals to contribute positively to society and lead fulfilling lives.
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Impact
July, 2024
Bona Fide Conglomerate Inc's impact lies in transforming the lives of mentally and physically handicapped individuals by providing them with practical job training and employment opportunities. By equipping these individuals with the skills and support they need to become employed in the community, the organization is breaking barriers and empowering individuals who may have otherwise been deemed "unemployable" due to severe disabilities. Through its mission to educate, train, and provide job placement, Bona Fide Conglomerate Inc is not only enhancing the lives of these individuals but also contributing to a more inclusive and diverse workforce.
This information is meant to be a general summary of Bona Fide Conglomerate 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: $21,229
- Program Service Revenue: $5,655,380
- Gross Receipts: $6,147,885
Assets and Liabilities:
- Total Assets: $1,744,549
- Total Liabilities: -$10,057
- Net Assets: $1,754,606
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUND MAINTENANCE
Revenue
$390,255
GSA CONTRACTS
Revenue
$5,259,972
OTHER JANITORIAL
Revenue
$5,153
Organization Details
Founding Year
2004
Phone
(619) 938-0604Principal Officer
Ruben A Lopez
Main Address
PO BOX 2606, LA MESA, CA, 91943
NTEE Category
Code: J30 - Employment
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