Overview
What is Diamond Kut Charities?
Diamond Kut Charities is a nonprofit organization, established in February 2020, that operates under Section 501(c)(3) of the Internal Revenue Code. With a focus on charitable, scientific, literary, and educational purposes, the organization aims to uplift minority students from economically and socially disadvantaged backgrounds. They accomplish this mission by providing mentorship opportunities through the guidance of highly accomplished, talented, and educated professional volunteers. The goal is to evaluate and enhance the success of these students, thereby acting as a transformative force in their lives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star
Diamond Kut Charities has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The charity scored 50% overall, which reflects weaknesses in governance and transparency. Notably, the organization has no independent board members, which could raise questions about oversight and decision-making processes.
Despite the governance issues, the charity demonstrates a robust program expense ratio of 80.27%, suggesting that a substantial portion of its funds is directed toward its programs. Additionally, there are no reported material diversions of assets, indicating that the organization's financial resources are being managed appropriately in that aspect. However, the lack of essential policies and the absence of documentation, such as meeting minutes and a whistleblower policy, are areas of concern.
Overall, while Diamond Kut Charities shows a commitment to spending on its programs, the deficiencies in governance and transparency could hinder its effectiveness and public trust. Potential donors and stakeholders should carefully consider these factors when evaluating the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Diamond Kut Charities legitimate?
Diamond Kut Charities is a legitimate nonprofit organization registered as a 501(c)(3) entity. Diamond Kut Charities 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:
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What is the mission statement of Diamond Kut Charities?
Diamond Kut Charities, established in February 2020, operates as a Not-for-Profit organization with a tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Its primary mission is to serve as a significant catalyst for change, focusing on the achievement of minority students from economically and socially disadvantaged backgrounds. They achieve this by providing mentorship through the guidance of highly successful, talented, and well-educated professional volunteers. The goal is to evaluate and enhance the success of these students, aiming to empower them to reach their full potential.
Who is the CEO of Diamond Kut Charities?
Gregory Arnold is the Treasurer of Diamond Kut Charities.
What is the revenue of Diamond Kut Charities?
Diamond Kut Charities's revenue in 2022 was $48,664.
Who are the executives of Diamond Kut Charities and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Diamond Kut Charities?
Diamond Kut Charities's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Diamond Kut Charities
Diamond Kut Charities, established as a Not-for-Profit organization in February 2020, operates under Section 501(c)(3) of the Internal Revenue Code. Its mission is centered around being a significant catalyst for change, focusing on the success of minority students hailing from economically and socially disadvantaged backgrounds. This is accomplished through a mentoring program that leverages the expertise and achievements of highly successful, talented, and well-educated professional volunteers. Diamond Kut Charities aims to transform these students' lives and evaluate their progress towards overcoming the challenges they face.
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Impact
August, 2024
Diamond Kut Charities plays a pivotal role in transforming the lives of minority students from economically and socially disadvantaged backgrounds. By providing mentoring services through highly successful and educated professional volunteers, the organization significantly contributes to improving the academic and personal success of these students. Through its dedicated efforts, Diamond Kut Charities helps empower individuals to break barriers and achieve their full potential, ultimately making a positive impact on their communities and society as a whole.
This information is meant to be a general summary of Diamond Kut Charities. 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: $48,664
Assets and Liabilities:
- Total Assets: $26,871
- Total Liabilities: $3,711
- Net Assets: $23,160
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Organization Details
Founding Year
2020
Phone
(708) 259-3202Principal Officer
Gregory Arnold
Main Address
3246 185TH PLACE, HOMEWOOD, IL, 60430
NTEE Category
Code: J21 - Employment
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