Overview
What is Litchfield High School Scholarship Association Inc?
Litchfield High School Scholarship Association Inc is a nonprofit organization, headquartered in Litchfield, Connecticut. Their primary mission is to provide financial assistance to deserving graduates of Litchfield High School, enabling them to pursue higher education by covering tuition and textbook expenses. The organization, recognized for its benevolent endeavors, awarded a substantial sum of approximately $458,131 to around 97 students in the recent past.
What are the reviews and ratings of this charity?
Charity Navigator rating: 71% (Two-Star out of Four Star rating)
The Litchfield High School Scholarship Association Inc has received a 71% rating from Charity Navigator, indicating a moderate level of performance in accountability and finance. The organization has demonstrated strong governance practices, with a fully independent board and established policies to mitigate conflicts of interest. Additionally, the absence of any material diversion of assets highlights the integrity of its financial management.
Financially, the association shows a robust program expense ratio of nearly 91%, suggesting that a significant portion of its funds is directed towards its charitable mission of supporting students through scholarships. The organization also maintains a favorable liabilities to assets ratio of 0.00%, reflecting healthy financial stability and minimal debt.
However, the overall two-star rating suggests there may be room for improvement in certain areas of transparency and program effectiveness. While the governance and financial metrics are strong, stakeholders may look for enhanced performance in broader organizational impact to increase confidence in the association's long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Litchfield High School Scholarship Association Inc legitimate?
Litchfield High School Scholarship Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Litchfield High School Scholarship Association 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: $0
For more financial information, click here
What is the mission statement of Litchfield High School Scholarship Association Inc?
The Litchfield High School Scholarship Association Inc, as per its mission, aims to grant scholarships to graduates of Litchfield High School. This organization provides financial aid to help these students pursue their higher education, covering tuition and book expenses. In the past year, the association awarded approximately 458,131 dollars to around 97 students. This initiative empowers these young individuals by offering them the opportunity to further their education.
Who is the CEO of Litchfield High School Scholarship Association Inc?
F Robert Petricone is the President of Litchfield High School Scholarship Association Inc.
What is the revenue of Litchfield High School Scholarship Association Inc?
Litchfield High School Scholarship Association Inc's revenue in 2023 was $860,389.
Who are the executives of Litchfield High School Scholarship Association Inc and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Litchfield High School Scholarship Association Inc?
Litchfield High School Scholarship Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Litchfield High School Scholarship Association Inc
Litchfield High School Scholarship Association Inc, as its name suggests, is a nonprofit organization with a mission to grant scholarships. Their primary objective is to support the educational pursuits of Litchfield High School graduates. By awarding scholarships, this organization aims to help eligible students cover tuition and textbook expenses, thereby enabling them to continue their academic journey beyond high school. Over the years, the Litchfield High School Scholarship Association Inc has provided substantial financial aid, totaling approximately 458,131 dollars, to around 97 deserving students. This philanthropic initiative allows these students to further their education, opening up opportunities for personal growth and professional development.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Litchfield High School Scholarship Association Inc has made a significant impact by awarding $458,131 to approximately 97 students to pay for tuition and books to further their education. All recipients are Litchfield High School graduates, contributing to their educational pursuits and helping them achieve their academic goals. This support is crucial in fostering the growth and success of students in the Litchfield community.
This information is meant to be a general summary of Litchfield High School Scholarship Association 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: $622,426
- Gross Receipts: $1,988,519
Assets and Liabilities:
- Total Assets: $8,711,044
- Total Liabilities: $0
- Net Assets: $8,711,044
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1940
Phone
(860) 567-0565Principal Officer
F Robert Petricone
Main Address
PO BOX 652, LITCHFIELD, CT, 06759
NTEE Category
Code: B82Z - Education
If you are a representative of Litchfield High School Scholarship Association Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.