BBB Wise Giving Report for
Modest Needs Foundation

BBB Wise Giving Report issued June 2009
BBB Wise Giving Report expires February 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Modest Needs Foundation
Address: 115 E 30th Street, Floor 1
  New York, NY 10016
Phone: 212-463-7042
Web Address: www.modestneeds.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2002, Delaware
Affiliates: None
Stated Purpose: "to assist low income individuals and families with one-time pressing financial needs."

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Evaluation Conclusions

               

Modest Needs Foundation (MNF) meets the 20 Standards for Charity Accountability.
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Programs

               

MNF works to end poverty by helping them pay for short-term emergency expenses such as auto repair, unanticipated trips to the doctor, or unusually large winter heating bills.

For the year ended December 31, 2007, MNF's program expenses were:

  
Specific assistance to individuals 739,090
Program service expenses 600,524
Grants made through partnerships 136,893
Grants to other organizations 9,007
Total Program Expenses: $1,485,514
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Governance

               

Chief Executive : Dr. Keith P. Taylor, Chief Executive Officer
Compensation*:
 $99,100

Chair of the Board: John Arenberg
Chair's Profession / Business Affiliation: Department of Public Relations, Emory University (retired)

Board Size: 5

Paid Staff Size: 19

*2007 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Television, radio, grant proposals, and Internet appeals.
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $2,059,175, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on MNF's audited financial statements for the year ended December 31, 2007.

Source of Funds  
Direct public support 2,059,175
Interest 556
Total Income $2,059,731


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Uses of Funds as a % of Total Expenses

Programs: 92%  Fund Raising: 5%  Administrative: 3% 

Total income   $2,059,731
  Program expenses $1,485,514
  Fund raising expenses 74,220
  Administrative expenses 46,724
 
Total expenses   $1,606,458
Income in Excess of Expenses   453,273
Beginning net assets   115,107
Ending net assets   568,380
Total liabilities   18,700
Total assets   $587,080


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Complaint

               

Number of complaints processed by the BBB in the last 36 months:     1

Email List Removal

The organization addressed the complaint issues brought to its attention:  1 

The organization did not address the complaint issues brought to its attention:     0

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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