Overview
What is The Desca Foundation?
The Desca Foundation is a nonprofit organization situated in Delaware. Its primary role is to facilitate the growth and development of innovators and technologists by providing them with essential resources, mentorship, and access to funding or strategic partners. This initiative aims to expedite the commercialization process of their products, thereby contributing to Delaware's innovation ecosystem. The foundation's mission is to bridge the gap between innovators and the resources they need to bring their ideas to market, ultimately fostering a thriving technological community in the state.
Official website here: www.desca.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%
The Desca Foundation has received a low rating of 36%, resulting in a Zero-Star out of Four Star rating. This score reflects significant concerns regarding the organization's accountability and financial transparency. While the foundation boasts a fully independent board and has demonstrated proper governance in some areas, such as having no material diversion of assets and maintaining meeting minutes, several critical policies are notably absent, which has severely impacted their overall score.
One of the major weaknesses identified is the lack of essential governance policies, including a conflict of interest policy and a whistleblower policy, both of which are crucial for ensuring ethical operations. Additionally, the absence of a document retention and destruction policy and the failure to post their tax form on the nonprofit's website further detract from their accountability. These shortcomings have contributed to a troubling program expense ratio of only 15.62%, indicating that a minimal portion of their funds is going toward direct program expenses.
In summary, while the Desca Foundation has strengths in board independence and governance practices, the significant gaps in essential policies and financial management raise serious concerns about its operations. Prospective donors should consider these factors carefully before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is The Desca Foundation legitimate?
The Desca Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Desca 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: $0
Other Salaries and Wages: $96,250
For more financial information, click here
Official website here: www.desca.net
What is the mission statement of The Desca Foundation?
The Desca Foundation's mission is to facilitate the growth and success of innovators and technologists by integrating them into Delaware's innovation network. They achieve this by providing access to vital resources, mentors, funding, and strategic partners. The primary goal is to accelerate the commercialization of these innovators' products, thereby fostering a thriving and dynamic technology sector. By connecting innovators with the necessary support, The Desca Foundation aims to contribute to the advancement of various industries and drive technological progress.
Official website here: www.desca.net
Who is the CEO of The Desca Foundation?
Erica Nemser is the President of The Desca Foundation.
Official website here: www.desca.net
What is the revenue of The Desca Foundation?
The Desca Foundation's revenue in 2022 was $105,306.
Official website here: www.desca.net
Who are the executives of The Desca Foundation and what are their salaries?
The average compensation at The Desca Foundation during 2022 was $48,125. There are 2 employees at The Desca Foundation.
Here are 13 key members and their salaries:
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Official website here: www.desca.net
Where can I find the form 990 for The Desca Foundation?
The Desca Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.desca.net
Learn more at the official website: www.desca.net
Mission Statement of The Desca Foundation
The Desca Foundation aims to facilitate the integration of innovators and technologists into Delaware's innovation ecosystem. By providing them with access to vital resources, mentors, and potential funding or strategic partners, Desca helps accelerate the commercialization of their products. In essence, Desca serves as a bridge, connecting aspiring inventors with the tools and support necessary to bring their ideas to market. By doing so, Desca contributes to the growth and development of Delaware's innovation sector, ultimately fostering a dynamic and innovative economy.
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Impact
October, 2024
The Desca Foundation plays a vital role in fostering innovation and commercialization in Delaware. By connecting innovators and technologists with essential resources, mentors, and funding opportunities, The Desca programs facilitate the acceleration of product development and market entry. This support not only enhances individual projects but also strengthens Delaware's broader innovation ecosystem, enabling a collaborative network that emphasizes scientific research and technological advancement. Through strategic partnerships, The Desca Foundation empowers and uplifts the local innovation community, making a significant impact on the state's economic growth and technological progress.
This information is meant to be a general summary of The Desca 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 2022.
- Program Service Revenue: $90,306
- Gross Receipts: $105,306
Assets and Liabilities:
- Total Assets: $38,979
- Total Liabilities: $0
- Net Assets: $38,979
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEE INCOME
Revenue
$50,000
CONFERENCE SPONSORSHIPS
Revenue
$39,746
CONFERENCE REGISTRATIONS
Revenue
$440
EVENT INCOME
Revenue
$105
NON-PROFIT INCOME
Revenue
$15
Organization Details
Phone
(302) 233-8034Principal Officer
Erica Nemser
Main Address
P O BOX 1448, HOCKESSIN, DE, 19707
Website
www.desca.netNTEE Category
Code: U99 - Science research
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