Overview
What is Wellesley Scholarship Foundation Inc?
Wellesley Scholarship Foundation Inc is a nonprofit organization situated in Wellesley, Massachusetts. Their primary mission is to grant merit and need-based scholarships to residents of Wellesley, as well as to non-residents who are graduates of Wellesley High School, for their post-secondary education. They offer financial assistance to these students, aiming to alleviate some of the financial burden associated with higher education. Their activities are centered around providing scholarships, contributing to the educational pursuits of young individuals from their community and beyond.
Official website here: www.wellesleyscholarshipfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Wellesley Scholarship Foundation Inc has achieved a remarkable Four-Star rating, which reflects its high standards in accountability and finance. With an Accountability & Finance Score of 90 and an impressive Impact & Measurement Score of 100, the organization demonstrates effective management practices and transparency, ensuring that funds are utilized efficiently to support its mission.
A key strength of the foundation is its program expense ratio of 92.84%, indicating that a significant majority of its resources are directed towards program services rather than administrative costs. Additionally, the foundation has shown a strong capacity for impact, notably increasing the income for scholarship recipients by more than $1.50 for every dollar spent, which speaks to the effectiveness of its scholarship programs.
Despite these strengths, the foundation's liabilities to assets ratio stands at 3.13%, suggesting that it may have some level of financial risk. This aspect should be monitored, but overall, the Wellesley Scholarship Foundation Inc stands out as a well-managed organization committed to enhancing educational opportunities for its recipients.
This AI summary has been generated from information found on Charity Navigator.
Is Wellesley Scholarship Foundation Inc legitimate?
Wellesley Scholarship Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellesley Scholarship Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.wellesleyscholarshipfoundation.org
What is the mission statement of Wellesley Scholarship Foundation Inc?
The Wellesley Scholarship Foundation Inc's mission is centered around providing financial assistance to post-secondary students. Specifically, they offer merit and need-based scholarships to students residing in Wellesley, as well as to non-resident graduates of Wellesley High School, to support their higher education. This foundation aims to empower these students by easing the financial burden associated with post-secondary education. Their activities primarily revolve around granting scholarships to eligible individuals, thereby enabling them to pursue their academic goals.
Official website here: www.wellesleyscholarshipfoundation.org
Who is the CEO of Wellesley Scholarship Foundation Inc?
Niki Brinkman-Ofenloch is the Trustee of Wellesley Scholarship Foundation Inc.
Official website here: www.wellesleyscholarshipfoundation.org
What is the revenue of Wellesley Scholarship Foundation Inc?
Wellesley Scholarship Foundation Inc's revenue in 2022 was $458,040.
Official website here: www.wellesleyscholarshipfoundation.org
Who are the executives of Wellesley Scholarship Foundation Inc and what are their salaries?
Here are 27 key members and their salaries:
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Official website here: www.wellesleyscholarshipfoundation.org
Where can I find the form 990 for Wellesley Scholarship Foundation Inc?
Wellesley Scholarship Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wellesleyscholarshipfoundation.org
Learn more at the official website: www.wellesleyscholarshipfoundation.org
Mission Statement of Wellesley Scholarship Foundation Inc
The Wellesley Scholarship Foundation Inc is committed to providing financial assistance to post-secondary students. Its mission is twofold: firstly, it offers merit and need-based scholarships to students residing in Wellesley. Secondly, it extends this generosity to non-residents of Wellesley who have graduated from Wellesley High School, also seeking higher education. By granting these scholarships, the Wellesley Scholarship Foundation Inc aims to support the educational pursuits of these students, thereby empowering them to reach their full potential.
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Impact
July, 2024
Wellesley Scholarship Foundation Inc's impact is felt through the provision of merit and need-based scholarships to post-secondary students from Wellesley. By supporting residents of Wellesley and graduates of Wellesley High School, the foundation ensures that these individuals have access to financial assistance for pursuing higher education. This assistance plays a crucial role in enabling students to achieve their academic and career goals, ultimately contributing to the growth and success of individuals within the community.
This information is meant to be a general summary of Wellesley Scholarship Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $253,418
- Gross Receipts: $458,040
Assets and Liabilities:
- Total Assets: $6,869,832
- Total Liabilities: $396,950
- Net Assets: $6,472,882
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Organization Details
Founding Year
1951
Phone
(617) 676-7901Principal Officer
Niki Brinkman-Ofenloch
Main Address
PO BOX 81207, WELLESLEY, MA, 02481
NTEE Category
Code: B82 - Education
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