Overview
What is Tomorrows Hope Foundation Ii Inc?
Tomorrows Hope Foundation II Inc, situated in Uniondale, New York, serves as a supportive entity for Catholic educational activities on Long Island. With a team of six dedicated individuals, the foundation offers scholarships and funding to Catholic schools in the region. Their mission is to foster a renewed commitment to these educational institutions, thereby contributing to the overall development of the community.
Official website here: www.tomorrowshopefoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star Rating)
Tomorrow's Hope Foundation II Inc has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The foundation's high score of 87% is primarily attributed to its exemplary governance practices, including a fully independent board and robust audit oversight. The organization has demonstrated transparency through clear policy listings and effective management of its financial statements.
One of the key strengths of the foundation is its program expense ratio, which stands at 81.59%, indicating a significant portion of its budget is dedicated to direct program services. Additionally, the fundraising efficiency ratio of $0.10 shows that the organization is able to raise funds effectively, keeping costs low and maximizing resources for its mission. The commitment to independent oversight further bolsters confidence in its financial integrity.
However, there are some areas for improvement, particularly regarding the liabilities to assets ratio and the working capital ratio, which are lower than ideal. The liabilities to assets ratio is at 57.34%, and the working capital ratio of 0.35 years suggests that the foundation may face challenges in liquidity. While these factors do not overshadow the organization’s accomplishments, they are important for potential donors to consider when evaluating the foundation's overall financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Tomorrows Hope Foundation Ii Inc legitimate?
Tomorrows Hope Foundation Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tomorrows Hope Foundation Ii 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: $185,432
Professional Fundraising Fees: $0
Other Salaries and Wages: $346,636
For more financial information, click here
Official website here: www.tomorrowshopefoundation.org
What is the mission statement of Tomorrows Hope Foundation Ii Inc?
Tomorrows Hope Foundation II Inc is committed to supporting Catholic educational activities on Long Island. They achieve this by providing scholarships and funding to Catholic schools in the region. Furthermore, the foundation encourages a renewed commitment to these schools, aiming to strengthen their presence and impact in the community. By providing financial assistance and promoting the importance of Catholic education, Tomorrows Hope Foundation II Inc aims to contribute positively to the educational landscape on Long Island.
Official website here: www.tomorrowshopefoundation.org
Who is the CEO of Tomorrows Hope Foundation Ii Inc?
Lewis S Ranieri is the Chairman/President of Tomorrows Hope Foundation Ii Inc.
Official website here: www.tomorrowshopefoundation.org
What is the revenue of Tomorrows Hope Foundation Ii Inc?
Tomorrows Hope Foundation Ii Inc's revenue in 2022 was $3,697,693.
Official website here: www.tomorrowshopefoundation.org
Who are the executives of Tomorrows Hope Foundation Ii Inc and what are their salaries?
The average compensation at Tomorrows Hope Foundation Ii Inc during 2022 was $88,678. There are 6 employees and 67 volunteers at Tomorrows Hope Foundation Ii Inc.
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- Compensation: $180,501
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- Other: $4,931
Official website here: www.tomorrowshopefoundation.org
Where can I find the form 990 for Tomorrows Hope Foundation Ii Inc?
Tomorrows Hope Foundation Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tomorrowshopefoundation.org
Learn more at the official website: www.tomorrowshopefoundation.org
Mission Statement of Tomorrows Hope Foundation Ii Inc
Tomorrows Hope Foundation II Inc is dedicated to supporting Catholic educational activities on Long Island. They accomplish this mission by providing scholarships and funding to Catholic schools located on Long Island. Additionally, the foundation aims to encourage a renewed commitment to these schools, striving to enhance their overall impact and relevance in the community. By investing in the education of future generations, Tomorrows Hope Foundation II Inc is working towards a brighter future, fostering academic success and instilling values that extend beyond the classroom.
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Impact
July, 2024
Tomorrows Hope Foundation II Inc's impact is centered around supporting the Catholic educational activities on Long Island through scholarships and funding to Catholic schools in the area. By providing financial support, the foundation helps ensure access to quality education for students attending Catholic schools. Additionally, the foundation aims to encourage a renewed commitment to these schools, fostering a strong educational community in the Long Island area. Through its philanthropic efforts, Tomorrows Hope Foundation II Inc plays a crucial role in enhancing educational opportunities for students and supporting the Catholic school system in the region.
This information is meant to be a general summary of Tomorrows Hope Foundation Ii 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: $3,954,249
Assets and Liabilities:
- Total Assets: $2,531,752
- Total Liabilities: $1,451,816
- Net Assets: $1,079,936
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Organization Details
Founding Year
2019
Phone
(516) 745-7611Principal Officer
Lewis S Ranieri
Main Address
50 CHARLES LINDBERGH BLVD STE 500, UNIONDALE, NY, 11553
NTEE Category
Code: T30 - Philanthropy
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