October 5, 2009
For the third consecutive year the Mayor's Fund to Advance New York City received a 4-star rating from Charity Navigator, America's largest independent evaluator of charities. The ratings are based on organizational effectiveness and efficiency. Charity Navigator has become the nation's largest and most-utilized evaluator of charities.
"We are proud to announce Mayor's Fund to Advance New York City has earned our third consecutive 4-star rating for its ability to efficiently manage and grow its finances," said Charity Navigator President & Chief Executive Officer Ken Berger in a letter to Mayor's Fund President Megan Sheekey. "Only 12% of the charities we rate have received at least 3 consecutive 4-star evaluations, indicating that Mayor's Fund to Advance New York City consistently executes its mission in a fiscally responsible way, and outperforms most other charities in America. This 'exceptional' designation from Charity Navigator differentiates Mayor's Fund to Advance New York City from its peers and demonstrates to the public it is worthy of their trust."
"I am pleased that Charity Navigator has once again recognized the achievements of the Mayor's Fund to Advance New York City," said Mayor's Fund Chair Rob Speyer. "This rating further validates the Fund's strong management and fiscal health. We are grateful to all of our supporters who recognize the value of the organization's mission."
Charity Navigator's analysts have examined tens of thousands of non-profit financial documents, and developed an unbiased, objective, numbers-based rating system to assess the financial health of over 5,000 of America's best-known charities. Their rating system examines two broad areas of a charity's financial health-how responsibly it functions day to day as well as how well positioned it is to sustain its programs over time. Each charity is then awarded an overall rating, ranging from zero to four stars. Each charity's commitment to keeping donors' personal information confidential is also assessed. Charity Navigator is a non-profit 501(c)(3) organization and does not accept funding from the charities it evaluates to ensure that ratings remain objective.
Jenny Sharfstein (212) 788-7794