Overview
What is North Andover Scholarship Foundation Inc?
North Andover Scholarship Foundation Inc is a nonprofit organization, headquartered in North Andover, Massachusetts. Their primary mission is to offer financial aid to deserving high school graduates residing in the region, enabling them to pursue higher education or other post-secondary programs. The foundation provides scholarships, acting as a crucial support system for local students aiming to further their education. The organization's commitment to education and community development is evident in its mission and activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 70%)
The North Andover Scholarship Foundation Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in various operational areas. Despite achieving a perfect score in accountability and finance, the overall score reflects issues related to transparency and governance practices, particularly the absence of important policies such as conflict of interest and whistleblower protections.
On the positive side, the organization demonstrates strong financial health, with no liabilities against its assets and a high program expense ratio of 78.73%. This suggests that a significant portion of its funding is directed toward its core mission of providing scholarships, which is a commendable strength. Additionally, the board is comprised entirely of independent members, enhancing its accountability.
However, the lack of essential governance documents, such as board meeting minutes and various policies, raises concerns about the foundation’s operational practices. Addressing these shortcomings could improve the foundation's rating and enhance its effectiveness, ensuring better trust and engagement from the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is North Andover Scholarship Foundation Inc legitimate?
North Andover Scholarship Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Andover 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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What is the mission statement of North Andover Scholarship Foundation Inc?
The North Andover Scholarship Foundation Inc's mission is centered around providing financial assistance to deserving high school graduates who are planning to continue their education beyond secondary school. By offering scholarships, the foundation aims to make higher education more accessible and affordable for these students, thereby empowering them to pursue their academic and career goals. The foundation's activities are focused on identifying and supporting these students, ensuring they have the necessary financial resources to pursue their chosen paths of higher learning.
Who is the CEO of North Andover Scholarship Foundation Inc?
Justin Benincasa is the President of North Andover Scholarship Foundation Inc.
What is the revenue of North Andover Scholarship Foundation Inc?
North Andover Scholarship Foundation Inc's revenue in 2022 was $72,767.
Who are the executives of North Andover Scholarship Foundation Inc and what are their salaries?
Here are 17 key members and their salaries:
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Where can I find the form 990 for North Andover Scholarship Foundation Inc?
North Andover Scholarship Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of North Andover Scholarship Foundation Inc
The North Andover Scholarship Foundation Inc, in its mission, aims to extend financial aid to deserving high school graduates who are set to further their education at colleges or pursue other post-secondary programs. This esteemed organization's primary objective is to support these students from North Andover, thereby empowering them to achieve their academic goals and make significant strides in their future endeavors. By providing scholarships, the North Andover Scholarship Foundation Inc plays a pivotal role in reducing the financial burden of higher education, thereby enabling talented individuals to pursue their dreams without being deterred by financial limitations.
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Impact
August, 2024
North Andover Scholarship Foundation Inc's impact is significant in providing crucial financial support to graduating high school students residing in North Andover who are pursuing higher education. By offering scholarships to these students, the foundation enables them to access opportunities for college or other post-secondary education that may have otherwise been out of reach. This support not only facilitates the academic and personal growth of the recipients but also contributes to building a more educated and skilled workforce for the community and beyond.
This information is meant to be a general summary of North Andover 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: -$38,135
- Gross Receipts: $815,236
Assets and Liabilities:
- Total Assets: $865,993
- Total Liabilities: $0
- Net Assets: $865,993
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Organization Details
Founding Year
1995
Phone
(978) 682-5488Principal Officer
Justin Benincasa
Main Address
PO Box 524, North Andover, MA, 01845
NTEE Category
Code: B82 - Education
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