Overview
What is La Vida Inc?
La Vida Inc, situated in Lynn, Massachusetts, is a three-year after-school program that caters to low-income, high-achieving students and their parents residing in Lynn and Chelsea. The primary objective of La Vida Inc. is to equip these students with the necessary resources and preparation required for college entry. Parents also participate in monthly meetings to learn how to effectively support their children throughout the college selection process. The organization's mission involves providing low-income families with matched funds for college savings and offering educational resources to make informed decisions about their children's higher education. With a team of nine dedicated individuals, La Vida Inc. strives to empower its students to unlock their full potential and secure a promising future.
Official website here: www.lavidascholars.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% (Three-Star out of Four Stars )ating)
La Vida Inc has achieved a commendable Three-Star rating from Charity Navigator, indicating a solid performance in accountability and impact measurement. The charity scores particularly high in leadership and adaptability, receiving a perfect score of 100 in this area, which suggests strong governance and operational effectiveness. However, while the organization demonstrates transparency through its majority independent board and effective program planning, it does have some areas needing improvement, such as missing policies around whistleblower protections and document retention.
One of La Vida Inc's significant strengths is its high program expense ratio of 67.31%, indicating that a substantial portion of its resources is directed toward its programs. The organization has set ambitious strategic goals, aiming to serve 360 scholars annually by 2026, which reflects a commitment to growth and community impact. The impressive scores in various program development and reporting metrics further underscore its focus on effectiveness and accountability in achieving its mission.
Despite these strengths, the absence of some key policies and transparency measures, such as its tax form on the website and missing whistleblower and document retention policies, may raise concerns for potential donors and stakeholders. Overall, while La Vida Inc is performing well in many respects, addressing these gaps could enhance trust and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is La Vida Inc legitimate?
La Vida Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Vida 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $301,170
For more financial information, click here
Official website here: www.lavidascholars.org
What is the mission statement of La Vida Inc?
La Vida Inc's mission is to equip low-income, high-achieving students with the necessary resources and preparation to enter colleges. The organization offers matched funds and provides training to parents, enabling them to make informed decisions about their child's higher education. La Vida Inc operates as a three-year after-school college preparatory program, assisting students in evaluating their best college fit, completing financial aid and college applications, and planning their future careers. The program also involves parent participants who meet regularly to learn how to support their children in the college selection process.
Official website here: www.lavidascholars.org
Who is the CEO of La Vida Inc?
Robert Hildreth is the President of La Vida Inc.
Official website here: www.lavidascholars.org
What is the revenue of La Vida Inc?
La Vida Inc's revenue in 2022 was $765,892.
Official website here: www.lavidascholars.org
Who are the executives of La Vida Inc and what are their salaries?
The average compensation at La Vida Inc during 2022 was $33,463. There are 9 employees at La Vida Inc.
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Official website here: www.lavidascholars.org
Where can I find the form 990 for La Vida Inc?
La Vida Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lavidascholars.org
Learn more at the official website: www.lavidascholars.org
Mission Statement of La Vida Inc
La Vida Inc, a nonprofit organization, is committed to equipping low-income, high-achieving students in certain Massachusetts cities with the resources and preparation needed to enter colleges. The mission of La Vida Inc extends beyond just the students; it also awards matched funds to parents who save towards their child's higher education and provides them with the necessary training to make informed decisions in this regard. This three-year after-school college preparatory program is designed to help students evaluate the best college fit, complete financial aid and college applications, and begin planning their future careers. Simultaneously, parent participants meet monthly to learn how to support their children in the college selection process, ensuring a holistic approach to college preparation.
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Impact
July, 2024
La Vida Inc's impact is significant as it empowers low-income, high-achieving students in Lynn and Chelsea, MA with the resources and preparation necessary to enter colleges. By providing a three-year after-school college preparatory program, La Vida Inc helps students evaluate the best college fit, complete financial aid and college applications, and begin planning for their future careers. Additionally, the organization awards parents who save towards college with matched funds and provides training to help them make informed decisions regarding their child's higher education. Through these initiatives, La Vida Inc plays a crucial role in bridging the opportunity gap for students in these communities and promoting educational equality.
This information is meant to be a general summary of La Vida 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.
- Gross Receipts: $765,892
Assets and Liabilities:
- Total Assets: $557,785
- Total Liabilities: $145,618
- Net Assets: $412,167
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Organization Details
Founding Year
1996
Phone
(781) 586-0193Principal Officer
Robert Hildreth
Main Address
120 MUNROE STREET, LYNN, MA, 01901
Website
www.lavidascholars.orgNTEE Category
Code: X22 - Religion related
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