Special Friends Foundation

Charity Navigator Rating: 1 Star (52%)

The Special Friends Foundation has received a low rating of 52%, resulting in a One-Star out of Four Stars designation primarily due to concerns in accountability and finance. This rating indicates significant weaknesses in transparency and governance practices, as reflected in the absence of financial statements and several key policies that are typically expected for nonprofits.

On a positive note, the organization boasts a fully independent board, which is a strong point in its governance structure. With all board members being independent, the foundation has achieved maximum points in this area, demonstrating a commitment to unbiased oversight. Furthermore, the program expense ratio is high at 95.09%, indicating that a substantial portion of its expenditures is directed towards its mission-related activities.

However, the lack of essential policies such as conflict of interest, whistleblower, and document retention policies raises notable concerns about the organization's operational integrity and accountability. Additionally, missing financial documents and a high liabilities-to-assets ratio of 112.52% may pose risks to the foundation's financial stability and transparency. Overall, while there are strengths in governance, the significant gaps in accountability highlight the need for improvement.

This AI summary has been generated from information found on Charity Navigator.

Special Friends Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Special Friends 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: $265,332

For more financial information, click here