Overview
What is Starfish Accelerator Foundation?
Starfish Accelerator Foundation is a nonprofit organization situated in Los Angeles, California. Established with charitable intentions, its primary objective is to support Black, Indigenous, and People of Color (BIPOC) artists and creatives. It achieves this goal by accepting donations and utilizing its resources for charitable, scientific, literary, and educational purposes. The foundation may also make grants and contributions to eligible organizations, as specified under Code Section 501(c)(3). By providing financial assistance and support to BIPOC artists and organizations, Starfish Accelerator Foundation aims to foster their growth and development in the artistic and creative fields.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 stars (10%)
The Starfish Accelerator Foundation has been given a Zero-Star out of Four Star rating by Charity Navigator, indicating significant concerns regarding its accountability and financial health. The organization's overall score is notably low at 10%, reflecting a lack of independent oversight with 0% of board members being independent. Transparency issues are evident, as critical policies related to conflicts of interest, whistleblowing, and document retention are missing, along with board meeting minutes.
Financially, the foundation demonstrates a concerning program expense ratio of only 23.87%, suggesting that a substantial portion of its funds may not be directed towards its stated charitable activities. Additionally, the organization's liabilities to assets ratio is 0.00%, raising questions about its financial management and sustainability. The absence of essential documents on its website could further hinder potential supporters' understanding and trust in the organization.
In summary, the Starfish Accelerator Foundation faces significant challenges in governance and financial transparency, which may deter donors and stakeholders concerned with accountability and effective use of charitable resources. These factors together contribute to its low rating and highlight the need for improvements in organizational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Starfish Accelerator Foundation legitimate?
Starfish Accelerator Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Starfish Accelerator Foundation 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: $16,900
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Starfish Accelerator Foundation?
The Starfish Accelerator Foundation is established with charitable purposes, primarily focusing on supporting BIPOC artists and creatives. It receives contributions and uses its resources to further its objectives, which include providing financial aid and making grants to eligible organizations, as per the guidelines set by Section 501(c)(3). The foundation's main goal is to contribute to the charitable, scientific, literary, and educational sectors, specifically by uplifting underrepresented artists and creatives. It achieves this either directly or indirectly, through its contributions to qualifying organizations.
Who is the CEO of Starfish Accelerator Foundation?
Mahyad Tousi is the Ceo of Starfish Accelerator Foundation. The CEO's salary of Starfish Accelerator Foundation is $0 and their total compensation is $0.
What is the revenue of Starfish Accelerator Foundation?
Starfish Accelerator Foundation's revenue in 2021 was $675,890.
Who are the executives of Starfish Accelerator Foundation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Starfish Accelerator Foundation?
Starfish Accelerator Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Starfish Accelerator Foundation
The Starfish Accelerator Foundation is established with a charitable mission, aiming to utilize its resources for beneficial purposes. This includes receiving donations and using its funds and assets to support artists and creatives of Black, Indigenous, and People of Color (BIPOC) backgrounds. The organization achieves this objective either by providing direct aid or by making contributions to eligible charitable organizations, as defined by section 501(c)(3) of the Internal Revenue Code. The Starfish Accelerator Foundation's primary goal is to contribute to the artistic and creative communities of BIPOC individuals, fostering their growth and success in the fields of literature, science, and education.
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Impact
July, 2024
Starfish Accelerator Foundation's impact is focused on supporting BIPOC artists and creatives through charitable, educational, and scientific initiatives. Their mission is to uplift and empower individuals from underrepresented communities in the arts sector, ensuring they have the resources and opportunities needed to thrive. Through their work, they aim to drive positive change in the creative industry and help cultivate a more diverse and inclusive cultural landscape.
This information is meant to be a general summary of Starfish Accelerator Foundation. 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 2021.
- Gross Receipts: $675,890
Assets and Liabilities:
- Total Assets: $574,920
- Total Liabilities: $0
- Net Assets: $574,920
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Organization Details
Founding Year
2021
Phone
(347) 267-5589Principal Officer
Mahyad Tousi
Main Address
2425 VADO DRIVE, LOS ANGELES, CA, 90046
NTEE Category
Code: A99 - Arts
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