Overview
What is University Of Massachusetts Foundation Inc?
The University of Massachusetts Foundation Inc, based at 100 Carlson Avenue Building 12 in Newton, Massachusetts, is a nonprofit organization dedicated to investing funds for the advantage of the University of Massachusetts. With a workforce of 13 employees, their mission is to foster and promote the growth, progress, and overall wellbeing of the University of Massachusetts, as outlined in the original 1950 articles of organization. The foundation receives, manages, and disburses private gifts for the benefit of the university and its educational mission. These funds support various aspects of the institution, including scholarship and education programs, and general program services expenditures.
Official website here: www.umassfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 87% (Three-Star out of Four Stars)
The University of Massachusetts Foundation Inc has earned a Three-Star rating from Charity Navigator, reflecting a strong overall performance with a score of 87%. The organization demonstrates solid accountability and financial practices, boasting a fully independent board and comprehensive audit oversight. Their policies regarding conflicts of interest and whistleblower protections are well established, contributing to a transparent governance structure.
Strengths highlighted include excellent scoring in key financial areas, particularly in fundraising efficiency and the management of liabilities to assets, which indicates a stable financial foundation. The Foundation's working capital ratio is notably strong, suggesting that it has ample resources to meet its short-term obligations. However, the program expense ratio is a weaker point, indicating room for improvement in the allocation of funds towards its core mission.
While the organization exhibits robust governance and financial health, potential donors may want to consider the relatively lower program expense ratio, which might suggest a need for greater investment in direct program services. Overall, the University of Massachusetts Foundation Inc appears to be a reliable nonprofit with effective management practices and a commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is University Of Massachusetts Foundation Inc legitimate?
University Of Massachusetts Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Massachusetts 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,210,770
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,229,944
For more financial information, click here
Official website here: www.umassfoundation.org
What is the mission statement of University Of Massachusetts Foundation Inc?
The University of Massachusetts Foundation, Inc. is dedicated to advancing the growth, progress, and general welfare of the University of Massachusetts as stated in its original 1950 articles of organization. The foundation receives, invests, and disburses private gifts for the benefit of the university and its educational mission. By investing funds, the University of Massachusetts Foundation supports various initiatives, including scholarship and education programs and general program services expenditures.
Official website here: www.umassfoundation.org
Who is the CEO of University Of Massachusetts Foundation Inc?
James R Julian Jr is the CEO of University Of Massachusetts Foundation Inc The CEO's salary of University Of Massachusetts Foundation Inc is $366,862 and their total compensation is $415,540.
Official website here: www.umassfoundation.org
What is the revenue of University Of Massachusetts Foundation Inc?
University Of Massachusetts Foundation Inc's revenue in 2023 was $113,438,486.
Official website here: www.umassfoundation.org
Who are the executives of University Of Massachusetts Foundation Inc and what are their salaries?
The average compensation at University Of Massachusetts Foundation Inc during 2023 was $118,645. There are 29 employees and 22 volunteers at University Of Massachusetts Foundation Inc.
Here are 26 key members and their salaries (University Of Massachusetts Foundation Inc's CEO's salary is $366,862 and their total compensation is $415,540):
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- Compensation: $366,862
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- Other: $48,678
- Compensation: $288,031
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- Compensation: $1,287,531
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- Compensation: $120,790
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- Other: $12,170
- Compensation: $114,562
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- Other: $14,585
- Compensation: $101,529
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- Other: $8,172
Official website here: www.umassfoundation.org
Where can I find the form 990 for University Of Massachusetts Foundation Inc?
University Of Massachusetts Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.umassfoundation.org
Learn more at the official website: www.umassfoundation.org
Mission Statement of University Of Massachusetts Foundation Inc
The University of Massachusetts Foundation, Inc. is a non-profit organization dedicated to fostering the growth and progress of the University of Massachusetts. Established in 1950, the Foundation's mission, as stated in its original articles of organization, is to invest and disburse private gifts for the benefit of the University of Massachusetts and its educational mission.
The University of Massachusetts Foundation plays a crucial role in the betterment of the University of Massachusetts. It receives, invests, and disburses private funds to support various aspects of the University's operations. One of the primary areas of investment is in scholarship and education programs. These programs provide financial assistance and opportunities for students to further their education, contributing to the intellectual growth and progress of the University.
Additionally, the Foundation invests in general program services expenditures. These investments may include funding for research initiatives, infrastructure improvements, and other projects that help enhance the overall quality and effectiveness of the University's educational mission. By providing financial support in these areas, the University of Massachusetts Foundation helps ensure the University remains at the forefront of higher education and continues to make a positive impact on its students and the wider community.
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Impact
October, 2024
The University of Massachusetts Foundation Inc plays a crucial role in enhancing the educational landscape of the University of Massachusetts. By fostering growth and promoting general welfare, the foundation directly supports academic programs, scholarships, and various initiatives that elevate the university's mission.
Through the management of private contributions, the foundation invests funds strategically to bolster educational services and programs. This investment not only enriches the student experience but also strengthens the university’s capacity to attract talent, advance research, and facilitate a diverse range of educational opportunities. By disbursing resources effectively, the foundation ensures that the university remains a competitive and innovative institution, ultimately benefiting students, faculty, and the broader community.
In summary, the impact of the University of Massachusetts Foundation Inc is seen in its commitment to empowering students and enhancing the overall educational quality at the University of Massachusetts, underscoring a legacy of investment in public higher education that began in 1950.
This information is meant to be a general summary of University Of Massachusetts 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: $10,792,579
- Gross Receipts: $551,183,526
Assets and Liabilities:
- Total Assets: $988,407,109
- Total Liabilities: $17,483,437
- Net Assets: $970,923,672
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Organization Details
Founding Year
1950
Principal Officer
James R Julian Jr
Website
www.umassfoundation.orgNTEE Category
Code: B110 - Education
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