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    Fashion Institute of Technology Foundation

    Fashion Institute of Technology Foundation

     

    Is this your nonprofit?

    501(c)(3) organization

    Donations are tax-deductible

    https://www.fitnyc.edu/about/administration/fit-foundation/

    227 West 27TH ST
    Suite C907
    NEW YORK NY 10001-5902

    212-217-4100


    NEW YORK NY | IRS ruling year: 1946 | EIN: 13-5675757  

     

    Organization Mission

    Founded in 1944, when apparel industry leaders obtained a charter to establish a fashion institute of design and technology, The Fashion Institute of Technology Foun ... (More)

     


    Rating Information

    star rating graphic

    Great


    This charity's score is 96%, earning it a Four-Star rating. If this organization aligns with your passions and values, you can give with confidence.


    This overall score is calculated from multiple beacon scores, weighted as follows: 90% Accountability & Finance, 10% Leadership & Adaptability. Learn more about our criteria and methodology.

    Beacon Weights  
    Historical Ratings  

    Rating Report

    • Impact & Results
    • Accountability & Finance
    • Culture & Community
    • Leadership & Adaptability
    Accountability & Finance
    Impact & ResultsAccountability & FinanceCulture & CommunityLeadership & Adaptability

     

    Accountability & Finance

     

    Score

    95

    Most Recent Fiscal Year:
    FY 2022

    This beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies.

    Learn more

     

    Key Accountability Metrics

    Full Credit
      
    Partial Credit
      
    No Credit
    Majority Independent Board Members - 96% independent members10 out of 10 points  
    Independent Board Size - 25 independent members10 out of 10 points  
    Financial Statements - Audit and Oversight Committee20 out of 20 points  
    Material Diversion of Assets - None20 out of 20 points  

    Tax Form Disclosures and Policies

    Full Credit
      
    Partial Credit
      
    No Credit
    Website Listed on Tax Form - Listed5 out of 5 points  
    Conflict of Interest Policy - Listed5 out of 5 points  
    Whistleblower Policy - Listed5 out of 5 points  
    Document Retention and Destruction - Listed5 out of 5 points  
    Documents Board Meeting Minutes - Yes5 out of 5 points  
    Tax Form Distributed to Board Before Filing - Listed5 out of 5 points  
    Loans to/from Officers - Missing5 out of 5 points  

    Website Disclosures

    Full Credit
      
    Partial Credit
      
    No Credit
    Tax Form Posted on Nonprofit's Website - Listed5 out of 5 points  

    Financial Metrics

    Full Credit
      
    Partial Credit
      
    No Credit
    Liabilities to Assets: Ratio - 2.16%25 out of 25 points  
    Program Expense: Ratio - 61.60%15 out of 25 points  
    Fundraising Efficiency: Ratio - $0.0225 out of 25 points  
    Working Capital: Ratio - 13.37 years25 out of 25 points  

    Additional Information

    Total Revenue and Expenses - Data Available  
    Salary of Key Persons - Data Available  
    IRS Published Data (Business Master File) - Data Available  
    Data Sources (IRS Forms 990) - Data Available  

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