Overview
What is The Scholarship Foundation Of Wakefield Inc?
The Scholarship Foundation of Wakefield Inc., based in Wakefield, Massachusetts, is a nonprofit organization with a mission to support deserving young residents of the town in pursuing higher education. They achieve this goal by granting scholarships, contributing a total of $776,650 in 20XX to post-secondary institutions. The foundation's primary activity involves raising and managing funds for these scholarships, ensuring that local talent can access higher education opportunities. With a small team of two dedicated individuals, the Scholarship Foundation of Wakefield Inc. plays a significant role in empowering the town's youth by fostering their educational growth.
Official website here: www.tsfofwakefield.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 98%, Four-Star out of Four Star Rating.
The Scholarship Foundation of Wakefield Inc has achieved a remarkable overall score of 98%, indicating a high level of effectiveness and reliability in its operations. The score is derived from its strong Accountability & Finance and Impact & Measurement metrics, with scores of 96 and 100 respectively. This signifies the organization's commitment to transparency and responsible financial management, as well as its effectiveness in achieving meaningful outcomes for scholarship recipients.
One of the foundation's notable strengths is its impressive program expense ratio of 75.72%, which reflects a significant portion of its funds being directed toward programmatic activities. Additionally, the organization boasts an independent board composed entirely of 32 members, ensuring unbiased governance and decision-making. Its adherence to best practices is evident in the presence of various policies regarding conflict of interest, whistleblower protections, and document retention, further enhancing its credibility.
Despite the strong financial and impact performance, there are no limitations noted in the data provided. Overall, The Scholarship Foundation of Wakefield Inc exemplifies a well-managed nonprofit organization dedicated to increasing educational opportunities for students through scholarship funding.
This AI summary has been generated from information found on Charity Navigator.
Is The Scholarship Foundation Of Wakefield Inc legitimate?
The Scholarship Foundation Of Wakefield Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Scholarship Foundation Of Wakefield 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.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $121,257
For more financial information, click here
Official website here: www.tsfofwakefield.org
What is the mission statement of The Scholarship Foundation Of Wakefield Inc?
The Scholarship Foundation of Wakefield's mission is centered around raising and managing funds to offer scholarships to individuals from the town of Wakefield, who are pursuing higher education full-time at post-secondary institutions. The primary goal is to provide financial assistance to deserving students, ensuring they can access quality education beyond their secondary level. As of the provided information, the foundation has successfully aided 298 such students with scholarships totaling 776,650 dollars.
Official website here: www.tsfofwakefield.org
What is the revenue of The Scholarship Foundation Of Wakefield Inc?
The Scholarship Foundation Of Wakefield Inc's revenue in 2023 was $1,198,955.
Official website here: www.tsfofwakefield.org
Who are the executives of The Scholarship Foundation Of Wakefield Inc and what are their salaries?
The average compensation at The Scholarship Foundation Of Wakefield Inc during 2023 was $60,628. There are 2 employees and 65 volunteers at The Scholarship Foundation Of Wakefield Inc.
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Official website here: www.tsfofwakefield.org
Where can I find the form 990 for The Scholarship Foundation Of Wakefield Inc?
The Scholarship Foundation Of Wakefield Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.tsfofwakefield.org
Learn more at the official website: www.tsfofwakefield.org
Mission Statement of The Scholarship Foundation Of Wakefield Inc
The Scholarship Foundation of Wakefield, abbreviated as TSFW, is committed to a significant mission. This mission involves raising and managing funds specifically earmarked for scholarships. These scholarships are intended for residents of the town of Wakefield who are pursuing their higher education full-time at various institutions. By providing these scholarships, TSFW plays a crucial role in supporting deserving young individuals in their academic journeys, contributing to a total of 776,650 in scholarship grants in recent years.
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Impact
July, 2024
The Scholarship Foundation Of Wakefield Inc's impact can be seen in the support it provides to deserving young men and women from the town of Wakefield. Through scholarships totaling $776,650, the foundation assisted 298 individuals in achieving a post-secondary education. This financial assistance has enabled these residents to pursue their academic goals and further their education, ultimately contributing to their personal growth and success. By investing in the education of its community members, the foundation plays a crucial role in fostering a more educated and skilled workforce in Wakefield.
This information is meant to be a general summary of The Scholarship Foundation Of Wakefield 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 2023.
- Investment Income: $487,125
- Gross Receipts: $3,820,302
Assets and Liabilities:
- Total Assets: $20,448,922
- Total Liabilities: $16,950
- Net Assets: $20,431,972
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Organization Details
Founding Year
1961
Principal Officer
John J Landers Jr
Website
www.tsfofwakefield.orgNTEE Category
Code: B82 - Education
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