Food Bank of Central New York Continues to Receive Four Star Rating from Charity Navigator
Tuesday, July 19, 2016
SYRACUSE, NY – Food Bank of Central New York has been notified that they will continue to receive the coveted four star rating from Charity Navigator under a new enhanced financial methodology which was implemented in June 2016. “Every day the Food Bank works to feed the hungry in our eleven county service area. We also strive to be transparent to the community so that people can have faith that their financial support will be used wisely. In fact, $.96 of each dollar donated will be used for our programs and services. We are proud to receive Charity Navigator’s four star rating to aid us in our work,” stated Kathleen Stress, Executive Director.
Since 2002, using objective analysis, Charity Navigator has awarded only the most fiscally responsible organizations a four star rating. In 2011, Charity Navigator added 17 metrics, focused on governance and ethical practices as well as measures of openness, to its ratings methodology. These accountability and transparency metrics, which account for 50 percent of a charity’s overall rating, reveal which charities operate in accordance with industry best practices and whether they are open with their donors and stakeholders. On June 1, 2016, Charity Navigator upgraded their methodology for rating each charity’s’ financial health with CN 2.1. These enhancements further substantiates the financial health of four star charities. Among the many highlights, Charity Navigator praised Food Bank of Central New York for spending 96% of its budget on programs and services.
For more information, please contact Lynn Hy, Director of Philanthropy and Development at (315) 437-1899 ext. 247.