Father Peter G Young Jr Foundation Inc

The information for Father Peter G Young Jr Foundation Inc is as of the organization's most recent filing in March '22. This organization is located in Schenectady, NY. It has been in existence for 29 years, following its founding in 1993.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Father Peter G Young Jr Foundation Inc's NTEE code is T20. The "T" tells us that the organization is classified along with Philanthropy, Voluntarism & Grantmaking Foundations. The "20" tells us that the organization is a Private Grantmaking Foundation. The NTEE describes Private Grantmaking Foundations as nongovernmental, nonprofit organizations with funds and programs managed by trustees or directors established to maintain charitable activities serving the common welfare, primarily through grantmaking.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(3) organization. The IRS describes these organizations as those engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Father Peter G. Young Foundation, Inc. is to develop and manage resources to fund programs and services that assist and sponsor programs in the fields of alcohol and drug rehabilitation, alternatives to incarceration, and job training skills throughout New York State.

Program Areas

The Father Peter G. Young, Jr., Foundation, Inc. develops and manages resources to fund programs and resources that assist and sponsor programs in the fields of alcohol and drug rehabilitation, alternatives to incarceration, and job training skills throughout New York State. This program area falls within the general fund, where the organization reports all revenues, support, and functional expenses that are not specifically reported by another fund or program.

Organization Staffing

Father Peter G Young Jr Foundation Inc is run by Peter Newkirk, who is the CEO. The organization does not have any employees, and there are no employees paid over $100k. Supporting the organization are two volunteers.

Board Governance

The Father Peter G Young Jr Foundation Inc appears to be well-governed based on the information provided. The organization has a small board of two voting members, both of whom are independent, indicating a level of transparency and objectivity in decision-making. The absence of potential conflicts of interest further strengthens the organization's governance, ensuring that decisions are made in the best interest of the foundation and its mission. The fact that the organization has not delegated management to an outside firm suggests that the board maintains direct control and oversight over the foundation's operations. This can contribute to a more efficient and effective governance structure, as decisions can be made promptly and with a deep understanding of the organization's goals and needs. The documentation of board meetings demonstrates a commitment to transparency and accountability. It allows for a record of discussions, decisions, and actions taken, ensuring that board members can review and reference these records as needed. However, the lack of documentation for committee meetings may be an area for improvement, as it could limit the ability to track and evaluate the work of committees within the organization. The presence of a conflict of interest policy and a whistleblower policy indicates that the organization has established procedures to address potential ethical concerns and protect against misconduct. These policies demonstrate a commitment to maintaining high ethical standards and ensuring that any conflicts or wrongdoing are appropriately addressed. Although the organization does not require disclosure of conflicts, the fact that it has a conflict of interest policy in place suggests that it recognizes the importance of managing potential conflicts and maintaining transparency. It would be beneficial for the organization to consider implementing a disclosure requirement to further enhance its governance practices. The presence of a document retention policy indicates that the organization understands the importance of maintaining records and information for legal and compliance purposes. This policy ensures that important documents are preserved and can be accessed when needed. However, the organization does not substantiate and review leadership salaries or officer's salaries, which could potentially raise concerns about transparency and accountability in terms of compensation practices. It may be beneficial for the organization to establish a process for reviewing and justifying salaries to ensure they are reasonable and aligned with the organization's mission and financial capabilities. Lastly, the fact that the organization does not provide copies of the 990 to the board prior to filing could be seen as a missed opportunity for the board to review and assess the organization's financial information. However, this may be mitigated if the board receives the 990 in a timely manner after filing. Overall, the Father Peter G Young Jr Foundation Inc appears to have a solid governance structure in place, with several policies and practices that

Grant History

Our dataset includes five years of grant history for the Father Peter G Young Jr Foundation Inc. Over those five years, they have awarded a total of 12 grants, with an average check size of $248,470. The organization typically awards two grants each year. The majority of their grants (10) were awarded in the Philanthropy, Voluntarism & Grantmaking Foundations sector. Additionally, all of their grants were awarded in the state of New York.

Organization Growth

The Father Peter G Young Jr Foundation Inc has experienced growth over the given time period. Contributions and grants received increased from $658.5K in 2014 to $2.2M in 2021. Additionally, total revenue also increased from $829.8K in 2014 to $2.2M in 2021. Despite a decrease in investment income and other revenue, the overall trend shows growth. Grants paid also increased from $998.0K in 2014 to $1.1M in 2021. Total expenses also increased from $1.1M in 2014 to $1.2M in 2021. However, it is important to note that the total number of volunteers is not meaningful over this time period.