Overview
What is Capital Foundation Of New York Inc?
Capital Foundation of New York Inc is a nonprofit organization situated in New Paltz, New York. Their primary mission is to foster entrepreneurial growth and education within New York State. They accomplish this by organizing the NY Business Plan Competition, a series of regional events where students can showcase their entrepreneurial skills. Judged by local business leaders, these competitions offer valuable experience and the chance to advance to the statewide final, where winners receive recognition and financial rewards. The Capital Foundation provides mentorship and leadership training to executives looking to enhance their abilities in nurturing business opportunities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 59% (One-Star out of Four Stars)
The Capital Foundation of New York Inc has received a score of 59% from Charity Navigator, indicating significant areas for improvement in its accountability and financial practices. While the organization has demonstrated a strong program expense ratio of 85.04%, ensuring that the majority of its funds are directed toward its mission, the overall rating reflects concerns in governance and financial transparency.
One notable strength is the absence of material diversion of assets, which earns the charity full marks in that area, along with comprehensive policies for conflicts of interest, whistleblower protections, and document retention. However, the lack of independent board members (only 33% independence) and a high liabilities-to-assets ratio of 174.67% raise red flags regarding the organization's financial health and governance structure.
Additionally, the charity's website and tax forms are not adequately represented online, which may hinder transparency and public trust. As such, while the foundation shows commitment in its programmatic spending, it faces challenges that may impact its reputation and effectiveness moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Capital Foundation Of New York Inc legitimate?
Capital Foundation Of New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capital Foundation Of New York 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
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What is the mission statement of Capital Foundation Of New York Inc?
The Capital Foundation of New York has been established with a mission to facilitate educational activities focused on entrepreneurship and fostering entrepreneurial growth. It serves as the organizer and manager of the NY Business Plan Competition, an intercollegiate event in New York State, designed to provide practical learning experiences for aspiring entrepreneurs. The competition involves 10 regional events, each featuring competitions judged by local business leaders. The finalists from various categories advance to the statewide competition, vying for prize money and recognition. Furthermore, the Capital Foundation offers mentorship and leadership training to executives, aiming to enhance their abilities in nurturing and expanding business opportunities.
Who is the CEO of Capital Foundation Of New York Inc?
Noa Simons is the President And Director of Capital Foundation Of New York Inc.
What is the revenue of Capital Foundation Of New York Inc?
Capital Foundation Of New York Inc's revenue in 2022 was $189,560.
Who are the executives of Capital Foundation Of New York Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $155,000
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Capital Foundation Of New York Inc?
Capital Foundation Of New York Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Capital Foundation Of New York Inc
The Capital Foundation of New York, a notable organization, has been established with a mission to foster and facilitate educational activities centered around entrepreneurship. This foundation serves as the administrator and producer of the NY Business Plan Competition, an intercollegiate entrepreneurship contest that spans across various regions in New York State. This competition offers a unique learning experience for students with an interest in entrepreneurship, where they apply, compete, and are judged by local business leaders. The finalists from various tracks progress to the statewide final competition, vying for recognition and monetary prizes.
Beyond the competition, the Capital Foundation of New York provides mentorship and leadership training to executives aiming to enhance their abilities in nurturing and expanding opportunities. This aspect of their mission seeks to equip these individuals with the necessary skills to effectively grow their ventures, thereby contributing to the broader entrepreneurial landscape.
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Impact
October, 2024
Capital Foundation of New York Inc significantly influences the entrepreneurial landscape through its commitment to education and experiential learning. By administering the New York Business Plan Competition (NYBPC), it fosters an environment where students can explore their entrepreneurial aspirations.
The competition is structured around 10 regional events across New York State, allowing aspiring entrepreneurs to present their business ideas to local business leaders. This not only provides participants with invaluable feedback but also enhances their networking opportunities.
Finalists from these regional contests proceed to a statewide competition, where they contend for prize money and recognition. This not only promotes a deeper understanding of business planning and strategy but also encourages innovation among participants.
Furthermore, the organization offers mentorship and leadership training to executives, thereby strengthening the overall entrepreneurial ecosystem. By equipping both students and established leaders with the necessary skills and insights, the Capital Foundation of New York plays a pivotal role in nurturing future business leaders and advancing entrepreneurial pursuits across the state.
This information is meant to be a general summary of Capital Foundation Of New York 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.
- Program Service Revenue: $182,395
- Gross Receipts: $189,560
Assets and Liabilities:
- Total Assets: $73,782
- Total Liabilities: $117,414
- Net Assets: -$43,632
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
The NY Business Plan Competition
Revenue
$149,220
Executive Membership Program
Revenue
$33,175
Organization Details
Founding Year
2018
Phone
(845) 204-8090Principal Officer
Noa Simons
Main Address
42 North Chestnut Street Suite 101, New Paltz, NY, 12561
NTEE Category
Code: B80 - Education
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