Overview
What is Hv3 Foundation?
The Hv3 Foundation, located in Southern Pines, North Carolina, is a nonprofit organization dedicated to expanding access to sports programs for youth. Recognizing the rising affordability issues in sports and after-school activities, the foundation's mission is to promote inclusivity by supporting and subsidizing these programs for those who may not be able to afford them. They achieve this goal through education, advocacy, and direct involvement in organizing and operating sports camps and after-school initiatives. The Hv3 Foundation aims to ensure that every child has the opportunity to participate in sports and benefit from the associated positive experiences.
Official website here: www.hv3foundation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Very poor (12%)
The Hv3 Foundation has received a very poor rating of 12%, indicating significant concerns regarding its governance and financial transparency. The organization has been assigned a zero-star rating, with notable shortcomings in board independence and financial accountability. The lack of independent board members and failure to provide financial statements are critical issues that reflect poorly on the foundation's operational integrity.
While the Hv3 Foundation scores 100% in terms of accountability and finance, this is overshadowed by the absence of essential policies such as conflict of interest and whistleblower protections. Additionally, the organization has not posted its tax forms or board meeting minutes online, raising red flags about transparency and stakeholder engagement.
The program expense ratio stands at 32.49%, suggesting a limited portion of funds is directed toward actual program services. This, combined with a liabilities to assets ratio of only 0.10%, points to potential financial instability and raises questions about the effectiveness of the foundation's mission delivery. Overall, the data suggests that the Hv3 Foundation may need significant improvements in governance practices and financial management to gain the trust of donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Hv3 Foundation legitimate?
Hv3 Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hv3 Foundation 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
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Other Salaries and Wages: $100,000
For more financial information, click here
Official website here: www.hv3foundation.com
What is the mission statement of Hv3 Foundation?
The Hv3 Foundation's mission is centered around making youth sports and after-school programs more accessible and inclusive for all, recognizing their increasing affordability issues. The foundation achieves this mission through several means, primarily education, advocacy, and directly operating or subsidizing these sports programs for individuals who cannot afford them. The organization works closely with various sports programs to grant youth access to these opportunities, develops and promotes youth sports camps and after-school programs, and distributes funds to organizations promoting youth sports initiatives.
Official website here: www.hv3foundation.com
Who is the CEO of Hv3 Foundation?
Harold Varner Iii is the President of Hv3 Foundation.
Official website here: www.hv3foundation.com
What is the revenue of Hv3 Foundation?
Hv3 Foundation's revenue in 2022 was $1,392,092.
Official website here: www.hv3foundation.com
Who are the executives of Hv3 Foundation and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.hv3foundation.com
Where can I find the form 990 for Hv3 Foundation?
Hv3 Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hv3foundation.com
Learn more at the official website: www.hv3foundation.com
Mission Statement of Hv3 Foundation
The Hv3 Foundation, a nonprofit organization, recognizes the growing affordability issues surrounding youth sports and after-school programs. Committed to its mission, the foundation aims to increase access and inclusion for all young people in sports. It achieves this by employing educational strategies, advocacy efforts, and operating or subsidizing sports programs. The Hv3 Foundation works closely with various sports organizations to grant youth the opportunity to participate in sports activities, regardless of their financial capabilities. Furthermore, the foundation actively develops and promotes youth access to sports camps and after-school programs. In addition, it distributes funds to numerous organizations that promote youth sports programs, thereby contributing to the growth and inclusivity of sports for young individuals.
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Impact
July, 2024
Hv3 Foundation's impact is evident in its efforts to increase access and inclusion for all youth in sports. By working with sports programs to grant youth access to sports, developing and promoting youth access to sport camps and after-school programs, and distributing funds to various organizations promoting youth sports programs, Hv3 Foundation is making a significant difference in ensuring that young individuals who cannot afford these opportunities are still able to participate and enjoy the benefits of sports. This initiative not only promotes physical activity and skill development but also fosters a sense of community and teamwork among the youth involved.
This information is meant to be a general summary of Hv3 Foundation. 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: $10,487
- Program Service Revenue: $32,811
- Gross Receipts: $1,392,092
Assets and Liabilities:
- Total Assets: $1,197,296
- Total Liabilities: $1,540
- Net Assets: $1,195,756
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOLF EVENTS
Revenue
$32,811
Organization Details
Founding Year
2018
Phone
(704) 313-6200Principal Officer
Harold Varner Iii
Main Address
160 CONE CIRCLE, SOUTHERN PINES, NC, 28387
Website
www.hv3foundation.comNTEE Category
Code: N12 - Recreation
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