Overview
What is Mantoloking Yacht Club Foundation Inc?
Mantoloking Yacht Club Foundation Inc is a charitable organization, situated in Mantoloking, New Jersey, with a specific address provided. Established with a focus on sailing and yacht racing, its mission is to foster understanding, knowledge, skills, and attitudes related to these activities. The foundation carries out its goals by promoting and operating various yacht club activities in Mantoloking. In line with its charitable charter, the Mantoloking Yacht Club Foundation distributes donations to World Ducks. The organization is independent and operates solely for charitable and educational purposes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
The Mantoloking Yacht Club Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant room for improvement in its accountability and financial practices. With an overall score of 50%, the organization lacks independent board members and does not have essential policies in place, which raises concerns about governance and oversight.
Despite these limitations, the foundation demonstrates a commendable commitment to its programs, as reflected in a high program expense ratio of 90.99%. This suggests that the majority of its resources are directed toward its mission-related activities rather than administrative costs. However, the absence of a public website and critical governance documents undermines transparency.
The absence of policies regarding conflicts of interest, whistleblower protections, and document retention also highlights the need for enhanced governance structures. Addressing these issues would greatly improve the foundation's accountability and overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Mantoloking Yacht Club Foundation Inc legitimate?
Mantoloking Yacht Club Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mantoloking Yacht Club 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: $17,368
Other Salaries and Wages: $0
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What is the mission statement of Mantoloking Yacht Club Foundation Inc?
The Mantoloking Yacht Club Foundation Inc was established with a mission to foster a deeper understanding, knowledge, skills, and positive attitudes towards sailing and yacht racing. The primary purpose of this foundation is to establish, promote, and operate activities related to sailing and yacht racing, acting as an independent charitable and educational entity. The foundation's activities aim to enhance the understanding and appreciation of sailing and yacht racing, contributing to the development of related skills and attitudes. Donations from the foundation are distributed in accordance with its charitable charter, aligning with its commitment to education and development in the field of sailing.
What is the revenue of Mantoloking Yacht Club Foundation Inc?
Mantoloking Yacht Club Foundation Inc's revenue in 2023 was $13,667.
Who are the executives of Mantoloking Yacht Club Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Mantoloking Yacht Club Foundation Inc?
Mantoloking Yacht Club Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mantoloking Yacht Club Foundation Inc
Mantoloking Yacht Club Foundation Inc, an independent charitable and educational organization, was established with the primary purpose of promoting and fostering the understanding, knowledge, skills, and attitudes related to sailing and yacht racing. The foundation's mission is to oversee and facilitate activities within the Mantoloking Yacht Club that align with this objective. Through its charitable charter, the foundation distributes donations to support this cause. The organization's mission is dedicated to enriching individuals' experiences in sailing and yacht racing, thereby contributing to their personal and collective growth.
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Impact
August, 2024
The Mantoloking Yacht Club Foundation Inc has a significant impact by furthering the understanding, knowledge, skills, and attitudes of sailing and yacht racing. Through its charitable charter, donations are distributed to support these activities, thereby promoting the development of sailing expertise and fostering a love for yacht racing. This foundation plays a crucial role in supporting the Mantoloking Yacht Club's mission of organizing recreational and educational activities related to sailing and yacht racing. By engaging in these endeavors, the foundation enhances the community's appreciation for these sports and contributes to the overall enrichment of individuals interested in these pursuits.
This information is meant to be a general summary of Mantoloking Yacht Club 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 2023.
- Gross Receipts: $13,667
Assets and Liabilities:
- Total Assets: $63,063
- Total Liabilities: $0
- Net Assets: $63,063
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AMAZON REFUNDS
Organization Details
Founding Year
2019
Principal Officer
Susan Voorhees
NTEE Category
Code: N50 - Recreation
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