Overview
What is Lester I Beal Memorial Scholarship Fund?
The Lester I Beal Memorial Scholarship Fund is a nonprofit organization, headquartered in Pittsburgh, Pennsylvania. Its primary mission is to provide financial assistance to the Massachusetts Institute of Technology (MIT). The organization's activities are geared towards offering financial support, contributing to the educational pursuits of students at MIT. The exact nature of the support, such as scholarships, grants, or fellowships, is not specified in the provided information.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 64%)
The Lester I Beal Memorial Scholarship Fund has received a two-star rating from Charity Navigator, indicating a need for improvement in various operational aspects. The overall score reflects a satisfactory program expense ratio of 72.48%, demonstrating a commitment to its mission of supporting scholarships. However, the organization is lacking in transparency and governance, with 0% independent board members and missing key policies such as a whistleblower policy and documentation of board meeting minutes.
Although the fund has shown strong financial health with a liabilities to assets ratio of 0.00%, concerns arise from its governance practices. The absence of independent board members suggests potential issues with accountability and oversight. Moreover, the lack of essential documents on its website, including tax forms and meeting minutes, raises questions about accessibility and transparency for stakeholders.
Overall, while the Lester I Beal Memorial Scholarship Fund is effectively utilizing its resources toward program services, significant governance improvements are necessary to enhance its accountability and transparency. Addressing these issues could better position the organization to gain public trust and ensure long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Lester I Beal Memorial Scholarship Fund legitimate?
Lester I Beal Memorial Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lester I Beal Memorial Scholarship Fund 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: $11,526
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Lester I Beal Memorial Scholarship Fund?
The Lester I Beal Memorial Scholarship Fund is dedicated to providing financial support for the Massachusetts Institute of Technology (MIT). Its mission is centered around providing the necessary financial aid to individuals attending MIT, thereby contributing to the institution's educational endeavors. By offering financial assistance, the fund aims to alleviate some of the financial burdens associated with higher education, enabling more students to pursue their academic goals at MIT.
Who is the CEO of Lester I Beal Memorial Scholarship Fund?
Shawn Dickson is the Principal Officer of Lester I Beal Memorial Scholarship Fund.
What is the revenue of Lester I Beal Memorial Scholarship Fund?
Lester I Beal Memorial Scholarship Fund's revenue in 2022 was $4,080.
Who are the executives of Lester I Beal Memorial Scholarship Fund and what are their salaries?
There is 1 key member and their salary:
- Compensation: $11,526
- Related: $0
- Other: $0
Where can I find the form 990 for Lester I Beal Memorial Scholarship Fund?
Lester I Beal Memorial Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lester I Beal Memorial Scholarship Fund
The Lester I Beal Memorial Scholarship Fund is a committed entity dedicated to providing financial support for the Massachusetts Institute of Technology (MIT). This nonprofit organization's mission is centered around providing the necessary financial aid to MIT, ensuring that students can pursue their educational journeys without financial constraints. By offering this financial support, the Lester I Beal Memorial Scholarship Fund plays a significant role in enabling talented individuals to access quality education and contribute to the intellectual growth and advancement of society.
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Impact
October, 2024
The Lester I Beal Memorial Scholarship Fund significantly impacts students by providing essential financial support for their education at the Massachusetts Institute of Technology (MIT). This funding alleviates the financial burden on students, allowing them to focus on their studies and research without the stress of tuition costs. By facilitating access to one of the leading technological institutions, the scholarship encourages academic excellence and fosters innovation among future leaders in various fields. Ultimately, it contributes to the cultivation of talent and knowledge, empowering students to make meaningful contributions to society.
This information is meant to be a general summary of Lester I Beal Memorial Scholarship Fund. 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: $4,080
- Gross Receipts: $416,853
Assets and Liabilities:
- Total Assets: $802,791
- Total Liabilities: $0
- Net Assets: $802,791
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Organization Details
Founding Year
1994
Phone
(412) 258-3051Principal Officer
Shawn Dickson
Main Address
116 ALLEGHENY CENTER MALL P8YB3502L, PITTSBURGH, PA, 15212
NTEE Category
Code: B82 - Education
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