Overview
What is Hoboken Relief Fund Inc?
Hoboken Relief Fund Inc is a charitable organization based in Hoboken, dedicated to providing financial assistance to local residents and independent businesses affected by crises, such as the COVID-19 pandemic. As a non-profit corporation, it operates under Section 501(c)(3) of the United States Revenue Code, making it tax-exempt. Its primary mission is to offer financial relief to businesses in need, serving as a crucial support system during challenging times. The organization's programs and activities aim to uplift the community by offering essential aid to those impacted by crises.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (50%)
The Hoboken Relief Fund Inc has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The charity scored 50% overall, highlighting weaknesses particularly in governance practices, such as a lack of independent board members and missing essential policies related to conflicts of interest, whistleblower protections, and document retention.
Despite these governance issues, the organization demonstrates a strong commitment to its mission with a high program expense ratio of 98.47%, suggesting that nearly all of its funds are directed towards programs rather than administrative costs. Additionally, the charity has an excellent liabilities to assets ratio of 3.97%, indicating a stable financial position.
However, the absence of a publicly listed website and various missing documents, such as board meeting minutes and the required tax forms on its website, raises red flags about transparency. The low accountability score reflects a need for improvement in governance and operational transparency to enhance trust and credibility with donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Hoboken Relief Fund Inc legitimate?
Hoboken Relief Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hoboken Relief Fund 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.
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What is the mission statement of Hoboken Relief Fund Inc?
The Hoboken Relief Fund Inc., operating as a non-profit corporation, is established with a charitable mission to provide financial relief to businesses impacted by crises, including the current Covid-19 pandemic. Operating under Section 501(c)(3) of the United States Revenue Code, this organization aims to support local businesses in need, serving as a vital source of aid during challenging times. Its primary objective is to offer monetary assistance to businesses struggling due to these crises, thereby contributing to their recovery and continued operation.
Who is the CEO of Hoboken Relief Fund Inc?
Grant Sahag is the Treasurer of Hoboken Relief Fund Inc.
What is the revenue of Hoboken Relief Fund Inc?
Hoboken Relief Fund Inc's revenue in 2022 was $57,798.
Who are the executives of Hoboken Relief Fund Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Hoboken Relief Fund Inc?
Hoboken Relief Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hoboken Relief Fund Inc
Hoboken Relief Fund Inc, as a charitable organization, is dedicated to providing financial aid to local businesses that have been impacted by crises, such as the COVID-19 pandemic. Operating under Section 501(c)(3) of the United States Revenue Code, this non-profit corporation is designed to offer assistance to Hoboken residents and independent businesses in need. Its primary mission is to alleviate the financial strain experienced by businesses due to these crises, thereby contributing to the overall well-being and resilience of the community. The Hoboken Relief Fund's programs are centered around supporting these businesses, providing them with the relief they require to navigate through challenging times.
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Impact
August, 2024
The impact of Hoboken Relief Fund Inc is evident in the support it provides to businesses in Hoboken affected by the Covid-19 pandemic. By offering financial relief to local businesses during this crisis, the organization directly contributes to the economic sustenance and resilience of the community. Through its charitable initiatives, the fund helps businesses stay afloat, employees keep their jobs, and the local economy remain stable in the face of challenging circumstances. This targeted assistance not only aids businesses in their time of need but also fosters a sense of community support and solidarity within Hoboken.
This information is meant to be a general summary of Hoboken Relief Fund 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.
- Investment Income: $37
- Program Service Revenue: $57,761
- Gross Receipts: $57,798
Assets and Liabilities:
- Total Assets: $39,657
- Total Liabilities: $1,575
- Net Assets: $38,082
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOBOKEN RELIEF
Revenue
$57,761
Organization Details
Founding Year
2020
Phone
(201) 744-5388Principal Officer
Grant Sahag
Main Address
218 JACKSON STREET APT 1, Hoboken, NJ, 07030
NTEE Category
Code: M20 - Public safety
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