Overview
What is The New Haven Scholarship Fund Inc?
The New Haven Scholarship Fund Inc is a nonprofit organization situated in New Haven, Connecticut. Their primary mission is to provide financial assistance to graduates of local high schools who have been accepted into accredited colleges or post-secondary education programs. This support comes in the form of scholarships and book awards, which are directly paid out to meet the educational expenses of the recipients, thus fulfilling the organization's charitable purpose. This initiative aims to empower young individuals from the city, enabling them to pursue higher education and better opportunities.
Official website here: www.newhavenscholarshipfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The New Haven Scholarship Fund Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial management. This rating indicates that the organization effectively utilizes its resources, with a notable program expense ratio of 94.27%, ensuring that the vast majority of funds are directed towards its mission of providing scholarships.
The organization demonstrates exceptional governance, with a fully independent board and robust financial oversight mechanisms in place. Key financial governance practices, such as an audit and oversight committee and documented board meeting minutes, further enhance transparency and accountability. However, the organization has a couple of areas for improvement, specifically the absence of a whistleblower policy and a document retention and destruction policy, which are important for comprehensive governance.
Overall, The New Haven Scholarship Fund Inc exemplifies a high standard of operational integrity and effectiveness, making it a trustworthy choice for donors who want their contributions to have a substantial impact on scholarship support. Nonetheless, addressing the noted governance gaps could strengthen its framework further and bolster stakeholder confidence even more.
This AI summary has been generated from information found on Charity Navigator.
Is The New Haven Scholarship Fund Inc legitimate?
The New Haven Scholarship Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The New Haven Scholarship Fund 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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Official website here: www.newhavenscholarshipfund.org
What is the mission statement of The New Haven Scholarship Fund Inc?
The New Haven Scholarship Fund Inc's mission revolves around providing financial assistance to eligible graduates from local high schools in Connecticut. Specifically, they award scholarships and book awards to individuals who have been accepted into accredited post-secondary education programs. These financial aid packages are directly paid out, ensuring that the organization fulfills its tax-exempt purpose. In essence, the fund's mission is to support the higher education aspirations of deserving students, thereby contributing to their future academic pursuits.
Official website here: www.newhavenscholarshipfund.org
Who is the CEO of The New Haven Scholarship Fund Inc?
Raquel Santiago-Martinez is the Director of The New Haven Scholarship Fund Inc.
Official website here: www.newhavenscholarshipfund.org
What is the revenue of The New Haven Scholarship Fund Inc?
The New Haven Scholarship Fund Inc's revenue in 2022 was $770,571.
Official website here: www.newhavenscholarshipfund.org
Who are the executives of The New Haven Scholarship Fund Inc and what are their salaries?
There 30 volunteers at The New Haven Scholarship Fund Inc.
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Official website here: www.newhavenscholarshipfund.org
Where can I find the form 990 for The New Haven Scholarship Fund Inc?
The New Haven Scholarship Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newhavenscholarshipfund.org
Learn more at the official website: www.newhavenscholarshipfund.org
Mission Statement of The New Haven Scholarship Fund Inc
The New Haven Scholarship Fund is an organization that is dedicated to granting scholarships and book awards to graduates from high schools within New Haven, Connecticut. These students must have been accepted into accredited post-secondary education programs. The scholarships are a key aspect of the organization's mission, with the funds being directly paid out to the recipients, thereby fulfilling its exempt purpose. This initiative by The New Haven Scholarship Fund aims to support the educational aspirations of its city's youth, thereby contributing to their future success and personal growth.
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Impact
July, 2024
The New Haven Scholarship Fund Inc's impact lies in providing crucial financial assistance to deserving graduates of New Haven, CT high schools, enabling them to pursue higher education opportunities. By awarding scholarships and book awards directly to these individuals, the organization plays a significant role in reducing financial barriers to post-secondary education. This, in turn, contributes to the academic and future career success of the recipients, fostering a more educated and skilled workforce within the community. Through their focused support, The New Haven Scholarship Fund Inc helps empower local students to reach their academic goals and unlock their full potential.
This information is meant to be a general summary of The New Haven Scholarship Fund 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: $162,749
- Gross Receipts: $844,446
Assets and Liabilities:
- Total Assets: $3,163,056
- Total Liabilities: $0
- Net Assets: $3,163,056
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Organization Details
Founding Year
1959
Principal Officer
Raquel Santiago-Martinez
Main Address
PO BOX 8936, NEW HAVEN, CT, 06532
NTEE Category
Code: B82 - Education
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