Overview
What is Blackcat Foundation Inc?
Blackcat Foundation Inc, situated in Prestonsburg, Kentucky, is a nonprofit organization that primarily focuses on providing financial support for Prestonsburg High School (PHS) students. Their mission encompasses both academic and athletic aspects, aiming to help students in need financially. Specifically, they contribute funds towards uniforms and various other necessities related to these areas. The foundation's purpose is to ensure that every student at PHS has an equal opportunity to excel academically and participate in sports, thereby fostering a well-rounded educational experience.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%, Zero-Star out of Four Star rating.
The Blackcat Foundation Inc has received a low rating of 40% from Charity Navigator, which indicates significant concerns regarding its overall financial health and accountability practices. The rating is derived solely from the Accountability & Finance beacon, highlighting that there are areas of concern that may affect donors' trust in the organization. The score reflects the foundation's subpar program expense ratio, which stands at only 37.36%, suggesting that a limited portion of its funds is directed toward its programs.
On a positive note, the Blackcat Foundation demonstrates strengths in governance, including having a fully independent board of directors and a well-documented conflict of interest policy. The organization has successfully maintained an asset-to-liability ratio of 0.00%, indicating no liabilities, which is a positive sign for financial stability. Additionally, they have met various accountability standards, such as documenting board meeting minutes.
Despite these strengths, the low program expense ratio raises questions about the efficiency of the foundation in fulfilling its mission. Potential donors may want to consider these factors carefully, as a higher percentage of funds allocated to programs is often indicative of a charity's impact.
This AI summary has been generated from information found on Charity Navigator.
Is Blackcat Foundation Inc legitimate?
Blackcat Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Blackcat 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
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What is the mission statement of Blackcat Foundation Inc?
The Blackcat Foundation Inc, as stated in its mission, is committed to providing financial assistance for both academic and athletic pursuits for students at PHS. This mission is aimed at offering financial support for various needs, such as sports uniforms and other related expenses. The foundation's objective is to empower these students, enabling them to excel in their academic and athletic endeavors without financial constraints.
Who is the CEO of Blackcat Foundation Inc?
Jeremy Shannon is the President of Blackcat Foundation Inc.
What is the revenue of Blackcat Foundation Inc?
Blackcat Foundation Inc's revenue in 2022 was $44,140.
Who are the executives of Blackcat Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Blackcat Foundation Inc?
Blackcat Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Blackcat Foundation Inc
The Blackcat Foundation Inc, as stated in its mission, is dedicated to providing financial assistance for both academic and athletic pursuits for students at PHS. This nonprofit organization aims to support these students financially, specifically by providing funds for essential items related to athletics such as uniforms and other related expenses. By doing so, the Blackcat Foundation Inc seeks to empower and enable PHS students in their academic and sporting endeavors, thereby contributing to their overall development and success.
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Impact
August, 2024
Blackcat Foundation Inc has a significant impact on the students of Prestonsburg High School by providing vital financial assistance for both academic and athletic needs. Through their support, students are able to access resources such as uniforms and other essential equipment, enhancing their overall educational and extracurricular experiences. This assistance plays a crucial role in ensuring that students have the necessary tools and opportunities to succeed both in their academic pursuits and in their athletic endeavors.
This information is meant to be a general summary of Blackcat 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: $44,140
Assets and Liabilities:
- Total Assets: $46,746
- Total Liabilities: $0
- Net Assets: $46,746
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Organization Details
Founding Year
2019
Principal Officer
Jeremy Shannon
Main Address
57 PEBBLE BROOK CT, Prestonsburg, KY, 41653
NTEE Category
Code: B12 - Education
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