Overview
What is The Peach Foundation?
The Peach Foundation, based in Foster City, California, is a nonprofit organization dedicated to providing educational scholarships and funds to underprivileged children primarily from China and Southeast Asia. Their mission is to break the cycle of poverty and enhance the educational standards in the regions where these children reside. In 2022, they granted scholarships to 3130 students, covering their middle/high school and college tuition fees, with potential exceptions for elementary-level students in special circumstances. The foundation employs a small team of two individuals.
Official website here: www.peachfoundationusa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating. The Peach Foundation has demonstrated a solid commitment to financial accountability and transparency, particularly noted by its high program expense ratio of 86.05%, indicating that a significant portion of its funds directly supports its programs. Additionally, the foundation boasts a fully independent board, which enhances its governance structure.
However, the foundation's overall rating reflects some areas needing improvement. Notably, it lacks a whistleblower policy and document retention and destruction policies, which could impact its operational integrity and transparency. While the foundation has shown strong performance in other governance areas, these omissions may raise concerns about its internal controls and risk management.
In summary, while The Peach Foundation has strengths in program funding and board independence, the absence of certain key policies limits its effectiveness in ensuring complete accountability and protection for stakeholders. Prospective donors should consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is The Peach Foundation legitimate?
The Peach Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Peach 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: $50,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,000
For more financial information, click here
Official website here: www.peachfoundationusa.org
What is the mission statement of The Peach Foundation?
The Peach Foundation's mission is centered around providing scholarships and educational funds to children from the most impoverished areas of China and Southeast Asia. This initiative aims to offer them the opportunity to complete a college education, thereby helping to break the cycle of poverty and improve the educational standards in their respective regions. The foundation's goal is to uplift these children and contribute to the betterment of their communities. In 2022, a total of 3130 students benefited from these scholarships, which covered their middle/high school and college tuition fees, with exceptions made for exceptional elementary-level students under special circumstances.
Official website here: www.peachfoundationusa.org
What is the revenue of The Peach Foundation?
The Peach Foundation's revenue in 2023 was $1,885,180.
Official website here: www.peachfoundationusa.org
Who are the executives of The Peach Foundation and what are their salaries?
The average compensation at The Peach Foundation during 2023 was $31,000. There are 2 employees and 9 volunteers at The Peach Foundation.
Here are 5 key members and their salaries:
- Compensation: $50,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.peachfoundationusa.org
Where can I find the form 990 for The Peach Foundation?
The Peach Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.peachfoundationusa.org
Learn more at the official website: www.peachfoundationusa.org
Mission Statement of The Peach Foundation
The Peach Foundation, in its mission, aims to provide scholarships and educational funds to children hailing from the most economically disadvantaged regions of China and Southeast Asia. By granting these opportunities, the foundation seeks to empower these children to complete their college education. This initiative is aimed at breaking the cycle of poverty and enhancing the educational standards of the regions where these children reside. For further details, one may refer to Part III & Schedule O.
In practice, The Peach Foundation sponsors the tuition fees for students primarily from the poorest regions of China, extending its support to middle and high school students, as well as making exceptions for elementary-level students under special circumstances. During 2022, the foundation was able to grant scholarships to 3130 students, thereby contributing significantly to their educational pursuits. The foundation's efforts in this regard are not only limited to tuition fees but also extend to providing references in the Form 990 Part III Schedule and Supplemental Information to Form 990 Part III, Line 4A, which includes details of the scholarship recipients.
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Impact
July, 2024
The Peach Foundation's impact is significant in granting scholarships and educational funds to children from the poorest parts of China and Southeast Asia. By providing these children with the opportunity to complete a college education, the foundation is actively working to break the vicious cycle of poverty and raise the educational standard in the regions where they live. The foundation's focus on supporting students in the poorest regions, sponsoring their middle/high school and college tuition fees, is evident in the 3130 students who received scholarships in 2022. Their dedication to empowering students through education is making a tangible difference in these underserved communities.
This information is meant to be a general summary of The Peach 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 2023.
- Investment Income: $259,680
- Gross Receipts: $6,773,946
Assets and Liabilities:
- Total Assets: $9,074,475
- Total Liabilities: $0
- Net Assets: $9,074,475
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Organization Details
Founding Year
2001
Principal Officer
Ruth Jeng
Website
www.peachfoundationusa.orgNTEE Category
Code: B82 - Education
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