Overview
What is Framingham State University Foundation Inc?
Framingham State University Foundation Inc, established in Framingham, Massachusetts, is a nonprofit organization with a primary mission to enhance the educational experience of Framingham State University students. They fulfill this objective by providing scholarships and awards, utilizing funds for the betterment and advancement of the university and its learners. By maintaining and managing these resources, the foundation aims to contribute positively to the development and promotion of Framingham State University.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
Framingham State University Foundation Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial management. The overall score is derived entirely from the Accountability & Finance category, where the organization scored 90%. This reflects effective governance and transparency, highlighted by the presence of a fully independent board and strong financial oversight mechanisms.
The foundation excels in several key areas, such as having a robust independent board comprised entirely of 25 members, and a solid financial performance with a significant program expense ratio of 80.61%. Their financial practices demonstrate efficiency, as indicated by a low fundraising cost of only $0.11 per dollar raised and a remarkably favorable working capital ratio of 10.02 years. These metrics suggest that the foundation is effectively utilizing its resources to support its mission.
While the data is overwhelmingly positive, the summary does not indicate any notable limitations or areas for improvement. Overall, the Framingham State University Foundation Inc stands out as a well-managed nonprofit focused on accountability and financial health, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Framingham State University Foundation Inc legitimate?
Framingham State University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Framingham State University 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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What is the mission statement of Framingham State University Foundation Inc?
The Framingham State University Foundation Inc's mission is centered around receiving and managing funds for the benefit of Framingham State University and its students. These funds are utilized in the university's best interest, contributing to its development and promotion. The primary goal is to provide scholarships and awards, thereby benefiting both the university and its students. This support aims to enhance the overall educational experience and prospects for students attending Framingham State University.
Who is the CEO of Framingham State University Foundation Inc?
Eric Gustafson is the Director of Framingham State University Foundation Inc.
What is the revenue of Framingham State University Foundation Inc?
Framingham State University Foundation Inc's revenue in 2023 was $2,093,585.
Who are the executives of Framingham State University Foundation Inc and what are their salaries?
Here are 26 key members and their salaries:
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- Related: $149,237
- Other: $58,948
Where can I find the form 990 for Framingham State University Foundation Inc?
Framingham State University Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Framingham State University Foundation Inc
The Framingham State University Foundation Inc is dedicated to collecting and preserving funds for the betterment of Framingham State University and its students. Their primary mission is to utilize these resources in a manner that fosters growth, promotion, and benefit for the university as a whole. In line with this, the foundation provides scholarships and awards, aiming to positively impact the student body of Framingham State University.
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Impact
July, 2024
Framingham State University Foundation Inc provides scholarships and awards to benefit Framingham State University and its students. Its mission is to receive and maintain funds that are used in the best interest of the university for the development, promotion, and benefit of the institution and its students. Through these efforts, the foundation plays a crucial role in supporting students in pursuing their educational goals and making a positive impact on the university community.
This information is meant to be a general summary of Framingham State University 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 2023.
- Investment Income: $407,438
- Gross Receipts: $6,035,399
Assets and Liabilities:
- Total Assets: $15,376,898
- Total Liabilities: -$13,244
- Net Assets: $15,390,142
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Organization Details
Founding Year
1983
Phone
(508) 626-4668Principal Officer
Eric Gustafson
Main Address
100 STATE STREET, FRAMINGHAM, MA, 01701
NTEE Category
Code: B42 - Education
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