Chelsea Piers Foundation

The Chelsea Piers Foundation is a US-based nonprofit organization, registered under the Internal Revenue Service (IRS) with the Employer Identification Number (EIN) 13-3991838. It operates as a 501(c)(3) organization, which means donations to the foundation are tax-deductible.

Mission and Purpose

The mission of the Chelsea Piers Foundation focuses on enriching the lives of children and families in the New York city tri-state area. The organization is particularly dedicated to empowering youth through sports and related initiatives, aiming to provide scholarships and opportunities for underprivileged children and adolescents.

Financials

As of recent financial reports, the Chelsea Piers Foundation reported revenue of $825,000 and expenses of $347,000 for the fiscal year ending in 2023. The organization's total assets were valued at approximately $3.68 million, with liabilities of about $90,700[1].

Historically, the primary source of revenue for the foundation has been contributions, which have consistently accounted for the majority of its income. In earlier years, such as 2015, contributions made up about 98.6% of total revenue, while other sources like fundraising contributed to the remaining percentage[1].

Governance and Leadership

The Chelsea Piers Foundation is governed by a board of directors that includes prominent individuals from various backgrounds. The leadership team is responsible for overseeing the strategic direction and operations of the foundation. While specific details about the current leadership's compensation are not publicly available, historically, officers and directors have not received compensation[1][2].

Programs and Activities

The foundation's primary activity is centered around providing support for youth through sports and education, although specific details about its programs beyond scholarships for underprivileged children are limited. It also engages in grantmaking activities, with recorded grants exceeding $289,824 in recent years[4][5].

Ratings and Recognition

The Chelsea Piers Scholarship Fund, closely associated with the foundation, has received a rating of 3/4 stars from Charity Navigator, a platform that evaluates nonprofit organizations based on financial health, accountability, and transparency[3]. This indicates a moderate level of effectiveness in managing its resources and achieving its mission.

Notable Achievements

While specific achievements are not widely documented, the Chelsea Piers Foundation's commitment to supporting underprivileged youth and empowering them through sports reflects a valuable contribution to the community. The organization's grantmaking activities demonstrate its capacity to provide tangible support to beneficiaries.

Overall, the Chelsea Piers Foundation plays a role in fostering youth development and access to sports opportunities in the New York tri-state area. As a charitable organization, it continues to contribute to local communities by providing scholarships and promoting youth empowerment through sports.