Overview
What is Second Chance Studios?
Second Chance Studios is a nonprofit organization situated in Washington, D.C. (specifically at 611 Pennsylvania Ave SE 143). Their primary mission is to provide employment, training, and empowerment opportunities for formerly incarcerated individuals from New York City. During 2022, they successfully implemented their Digital Media Fellowship Program, which offered training and career assistance to numerous fellows. The organization also established a network of over 30 mentors and secured partnerships with more than 15 corporations and philanthropies to support their cause. With a workforce of 24 employees, Second Chance Studios continues its commitment to helping formerly incarcerated individuals overcome employment barriers and gain marketable skills.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 32%
Second Chance Studios has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The organization's Accountability & Finance score of 32% highlights several areas of weakness, particularly the absence of financial statements and a missing website, which are critical for transparency. While the board composition is commendable with 83% independent members, other governance aspects such as a whistleblower policy and document retention protocols are lacking.
Strengths noted include the presence of independent board members and the absence of material diversion of assets, which speaks to some level of integrity in operations. Additionally, the organization does maintain documented board meeting minutes, suggesting some effort towards governance practices. However, the overall financial health appears troubling, as indicated by a liabilities-to-assets ratio of 328.28%, which raises concerns about sustainability.
In summary, while Second Chance Studios has some positive governance aspects, the lack of essential financial documentation and policies significantly undermines its credibility and effectiveness as a nonprofit organization. The low program expense ratio further suggests that a larger portion of resources may not be directed towards impactful programs. This assessment calls for improvements in transparency and financial management to enhance trust and effectiveness in its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Second Chance Studios legitimate?
Second Chance Studios is a legitimate nonprofit organization registered as a 501(c)(3) entity. Second Chance Studios 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: $124,419
Professional Fundraising Fees: $0
Other Salaries and Wages: $382,936
For more financial information, click here
What is the mission statement of Second Chance Studios?
Second Chance Studios is committed to a mission that involves employing, training, and empowering formerly incarcerated individuals from various backgrounds. This mission aims to equip them with marketable skills and help them overcome the challenges in re-entering the workforce. In 2022, Second Chance Studios executed its Digital Media Fellowship Program, providing training and opportunities for these individuals to kickstart their careers in the media sector. The organization facilitated extensive training sessions, established a mentor network, and secured partnerships with numerous corporations and philanthropies.
Who is the CEO of Second Chance Studios?
Ravi Gupta is the President & Ceo of Second Chance Studios. The CEO's salary of Second Chance Studios is $115,581 and their total compensation is $124,419.
What is the revenue of Second Chance Studios?
Second Chance Studios's revenue in 2022 was $550,317.
Who are the executives of Second Chance Studios and what are their salaries?
The average compensation at Second Chance Studios during 2022 was $21,140. There are 24 employees and 75 volunteers at Second Chance Studios.
Here are 6 key members and their salaries (Second Chance Studios's CEO's salary is $115,581 and their total compensation is $124,419):
- Compensation: $115,581
- Related: $0
- Other: $8,838
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Second Chance Studios?
Second Chance Studios's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Second Chance Studios
Second Chance Studios, a nonprofit organization, is committed to making a significant impact in the lives of formerly incarcerated individuals from New York City. Their mission is twofold: to provide employment opportunities and offer comprehensive training to help these individuals acquire a marketable skill-set. By doing so, Second Chance Studios aims to assist them in overcoming the obstacles they face in re-entering the workforce.
In 2022, Second Chance Studios put their mission into action through their Digital Media Fellowship Program. This program aimed to equip formerly incarcerated individuals with the necessary skills for a career in media. The organization facilitated extensive training sessions, totaling over 300 hours, and established a network of mentors numbering over 30 individuals. Furthermore, Second Chance Studios successfully secured the support of 15 corporate and philanthropic partners, demonstrating their commitment to this cause.
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Impact
July, 2024
Second Chance Studios is making a significant impact by providing formerly incarcerated individuals from New York City with employment opportunities and essential training to help them build marketable skills and reintegrate into the workforce. In 2022, the organization continued its Digital Media Fellowship Program, offering fellows over 300 hours of training and building a network of 30+ mentors to support their professional development. With the support of 15+ corporate and philanthropic partners, Second Chance Studios is breaking barriers and empowering individuals to pursue successful careers in the media industry, contributing to their journey towards a second chance in life.
This information is meant to be a general summary of Second Chance Studios. 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: $550,317
Assets and Liabilities:
- Total Assets: $9,725
- Total Liabilities: $31,926
- Net Assets: -$22,201
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Organization Details
Founding Year
2020
Phone
(202) 552-0221Principal Officer
Ravi Gupta
Main Address
611 Pennsylvania Ave SE 143, Washington, DC, 20003
NTEE Category
Code: I40 - Crime
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