Overview
What is Broadway Gymnastic Foundation Michael Cates?
The Broadway Gymnastic Foundation Michael Cates, established in 1982, is a nonprofit organization dedicated to offering scholarships to financially challenged and/or disabled children. The foundation encourages applications from interested individuals and collaborates with local community groups to direct eligible youths in need of gymnastics training, education, and discipline. A scholarship committee, comprising members of the board of directors and an advisory board, reviews and grants these scholarships. The foundation's mission aims to foster discipline and personal growth through gymnastics training, providing a valuable opportunity for underprivileged children.
Official website here: www.broadwaygym.com/foundation.php
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating.
The Broadway Gymnastic Foundation, under the leadership of Michael Cates, has received a low rating of 56%, indicating significant concerns regarding its accountability and financial practices. Notably, the organization lacks independent board members, which raises questions about governance and oversight. While it scores well on material asset management and has a strong program expense ratio, the absence of crucial policies such as conflict of interest and whistleblower policies is concerning.
On the positive side, the foundation has demonstrated effective management of its program expenses, allocating over 97% of its budget to its core activities. Additionally, it maintains a solid liabilities-to-assets ratio of 0%, suggesting it does not have excessive debt. However, the lack of transparency and governance protocols could hinder its effectiveness and public trust.
Overall, while the Broadway Gymnastic Foundation shows promise in its programmatic focus, the organizational weaknesses highlighted by its low accountability score should be addressed to enhance its credibility and operational effectiveness moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Broadway Gymnastic Foundation Michael Cates legitimate?
Broadway Gymnastic Foundation Michael Cates is a legitimate nonprofit organization registered as a 501(c)(3) entity. Broadway Gymnastic Foundation Michael Cates 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: $3,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.broadwaygym.com/foundation.php
What is the mission statement of Broadway Gymnastic Foundation Michael Cates?
The Broadway Gymnastic Foundation, established in 1982, has a mission to provide scholarships for economically disadvantaged and/or handicapped children. It accepts scholarship applications from interested individuals and directs suitable youths in need of gymnastic training, education, and discipline to the foundation. All applications are reviewed and awarded by a scholarship committee, comprising members of the foundation's board of directors and an advisory board. The foundation aims to support these children, helping them to benefit from the discipline and skills that gymnastics can provide.
Official website here: www.broadwaygym.com/foundation.php
Who is the CEO of Broadway Gymnastic Foundation Michael Cates?
Michael M Cates is the President of Broadway Gymnastic Foundation Michael Cates.
Official website here: www.broadwaygym.com/foundation.php
What is the revenue of Broadway Gymnastic Foundation Michael Cates?
Broadway Gymnastic Foundation Michael Cates's revenue in 2023 was $162,966.
Official website here: www.broadwaygym.com/foundation.php
Who are the executives of Broadway Gymnastic Foundation Michael Cates and what are their salaries?
Here are 6 key members and their salaries:
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- Compensation: $3,600
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Official website here: www.broadwaygym.com/foundation.php
Where can I find the form 990 for Broadway Gymnastic Foundation Michael Cates?
Broadway Gymnastic Foundation Michael Cates's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.broadwaygym.com/foundation.php
Learn more at the official website: www.broadwaygym.com/foundation.php
Mission Statement of Broadway Gymnastic Foundation Michael Cates
The Broadway Gymnastic Foundation, established in 1982, is a nonprofit organization with a mission to provide scholarships for economically disadvantaged and/or handicapped children. This foundation accepts scholarship applications from interested individuals and also directs suitable youths in need of gymnastic training, education, and discipline to its programs. The scholarship committee, comprised of members from the foundation's Board of Directors and an Advisory Board, reviews and awards the scholarships to the recipients. The Broadway Gymnastic Foundation aims to empower underprivileged children through gymnastics, offering them the opportunity to develop discipline and learn valuable skills.
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Impact
October, 2024
Broadway Gymnastic Foundation Michael Cates significantly impacts the lives of economically disadvantaged and handicapped children by providing them with access to gymnastics training and education. Since its incorporation in 1982, the foundation has enabled numerous youths to pursue their interests in gymnastics, promoting physical fitness, discipline, and personal growth. Through scholarship programs, children who might otherwise lack resources can participate in training that fosters not only athletic skills but also important life values such as perseverance, teamwork, and self-confidence.
The foundation collaborates with local community groups, ensuring that those most in need are directed to the appropriate resources. By offering such opportunities, Broadway Gymnastic Foundation helps to break down barriers and create pathways for youth to engage in healthy recreational activities, enhancing both their physical and emotional well-being. The careful selection process for scholarship recipients—managed by a committee comprised of board members and advisors—ensures that support is given to those who can benefit the most, thereby fostering a more inclusive and supportive environment for young gymnasts in the Los Angeles area.
This information is meant to be a general summary of Broadway Gymnastic Foundation Michael Cates. 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.
- Program Service Revenue: $75,005
- Gross Receipts: $290,615
Assets and Liabilities:
- Total Assets: $140,215
- Total Liabilities: $0
- Net Assets: $140,215
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TEAM ASSESSMENT FEE
Revenue
$75,005
Organization Details
Phone
(310) 450-0012Principal Officer
Michael M Cates
Main Address
5433 BEETHOVEN STREET, LOS ANGELES, CA, 90066
NTEE Category
Code: N60 - Recreation
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