Overview
What is Malden High School Scholarship?
The Malden High School Scholarship is a charitable initiative based in Lynn, Massachusetts, specifically at 195 Market Street. Its primary objective is to offer financial aid to graduating seniors from Malden High School, enabling them to pursue higher education. By providing scholarships, this nonprofit aims to support the academic aspirations of deserving students, thereby contributing positively to their future prospects.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
Malden High School Scholarship has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. With a score of only 53%, the organization lacks independent board members, which puts its governance and decision-making transparency into question. Additionally, key policies such as conflict of interest, whistleblower, and document retention are missing, further highlighting potential governance issues.
On a positive note, the organization has a high program expense ratio of 99.82%, suggesting that nearly all of its funds are directed towards its charitable programs, which is a strong point in its favor. Moreover, the organization has demonstrated good asset management, with a liabilities to assets ratio of 0.00%. However, the overall lack of independent oversight and missing key governance documents raises red flags about its operational integrity.
Overall, while Malden High School Scholarship is effective in utilizing funds for its programs, the deficiencies in its governance and accountability practices warrant caution for potential donors and stakeholders. The absence of essential policies and independent oversight suggests that improvements are needed to strengthen the organization's trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Malden High School Scholarship legitimate?
Malden High School Scholarship is a legitimate nonprofit organization registered as a 501(c)(3) entity. Malden High School Scholarship 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: $20,697
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Malden High School Scholarship?
The Malden High School Scholarship's mission is centered around providing financial aid to deserving graduating seniors who are embarking on their college journey. This organization aims to alleviate some of the financial burden associated with higher education, thereby enabling these students to pursue their academic goals. The scholarships are a testament to the organization's commitment to supporting the educational aspirations of young individuals. The scholarships are paid out to eligible students, thereby enabling them to focus on their studies without undue financial stress. In essence, the Malden High School Scholarship serves as a beacon of hope and opportunity for promising students, fostering their academic growth and development.
Who is the CEO of Malden High School Scholarship?
Unavailable
What is the revenue of Malden High School Scholarship?
Malden High School Scholarship's revenue in 2023 was $104,999.
Who are the executives of Malden High School Scholarship and what are their salaries?
There is 1 key member and their salary:
- Compensation: $20,697
- Related: $0
- Other: $0
Where can I find the form 990 for Malden High School Scholarship?
Malden High School Scholarship's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Malden High School Scholarship
The Malden High School Scholarship, as its name suggests, is an organization dedicated to providing financial assistance to graduating seniors of Malden High School who are embarking on their college journeys. Its primary mission is to offer scholarships, serving as a beacon of hope and opportunity for deserving students who may otherwise struggle with the financial burden of higher education. By doing so, the Malden High School Scholarship plays a vital role in empowering young individuals, enabling them to pursue their academic dreams and contribute positively to society in the future.
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Impact
October, 2024
Malden High School Scholarship significantly impacts the lives of graduating seniors by providing critical financial support as they transition to higher education. By offering scholarships specifically targeted at students entering college, the program alleviates some of the financial burdens associated with tuition and educational expenses.
This support empowers students to pursue their academic goals, fostering a sense of hope and opportunity among those who may face financial constraints. The scholarships not only help cover the costs of college but also encourage students to strive for academic excellence and community engagement, knowing that their hard work can lead to tangible rewards.
The program plays a crucial role in shaping the future of these young individuals, helping them to gain access to higher education, develop their skills, and ultimately contribute positively to their community in Lynn, MA and beyond. By investing in the education of Malden High School graduates, the scholarship enhances their prospects for success and promotes a culture of learning and aspiration within the community.
This information is meant to be a general summary of Malden High School Scholarship. 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: $104,999
- Gross Receipts: $758,724
Assets and Liabilities:
- Total Assets: $2,093,879
- Total Liabilities: $0
- Net Assets: $2,093,879
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Organization Details
Founding Year
1991
Phone
(781) 581-4293Main Address
195 MARKET STREET, LYNN, MA, 01901
NTEE Category
Code: B82Z - Education
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