Overview
What is Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc?
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc is a nonprofit organization situated in Farmington, Connecticut. Their primary mission is to provide low-interest student loans to undergraduate students who demonstrate financial need. This fund, known as the Student Loan Program, is overseen by a Loan Committee. The organization's aim is to help students financially during their college years, ensuring they can focus on their studies without undue financial burden. The exact schedule of operations may be found elsewhere, as the provided information does not include specific details.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68%, earning it a Two-Star out of Four Star rating. The Farmington Student Loan Foundation Inc demonstrates strong governance with a fully independent board and no noted diversions of assets, reflecting a solid commitment to accountability. The organization documents its board meeting minutes and maintains a low liabilities to assets ratio, indicating good financial health.
However, the foundation has some significant drawbacks that impact its overall rating. It lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. The absence of these policies raises concerns about transparency and accountability practices within the organization.
In terms of financial efficiency, the program expense ratio is relatively high at 65.93%, which is a positive indicator of funds being directed towards its mission. Despite this, the missing tax forms on the nonprofit's website could hinder potential donors' ability to verify its financial status. Overall, while the foundation shows some strong governance practices, the gaps in policy documentation represent areas for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc legitimate?
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc 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 Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc?
The Farmington Student Loan Foundation Inc, managed by Budwitz & Meyerjack Pc, operates as a low-interest student loan fund. Undergraduate students who demonstrate financial need can apply for these loans. The approval process for these loans is handled by the Loan Committee. The foundation's primary objective is to provide financial assistance to students who require it to pursue their undergraduate studies. By offering low-interest loans, the foundation aims to make higher education more accessible to a wider range of students. This non-profit organization serves as a crucial resource for students who may struggle with the financial burden of college tuition.
Who is the CEO of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc?
Kevin S Ray is the Director of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc.
What is the revenue of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc?
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc's revenue in 2021 was $4,058.
Who are the executives of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc and what are their salaries?
Here are 15 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
- 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 Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc?
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc is a nonprofit organization that provides low-interest student loans to undergraduate students who demonstrate financial need. The foundation serves as a resource for students who may struggle to finance their higher education, offering them an opportunity to pursue their academic goals without being burdened by excessive debt. The loan committee at Farmington Student Loan Foundation evaluates each application, considering the financial situation of the student, and decides whether or not to grant the loan. This mission of Farmington Student Loan Foundation is instrumental in providing financial assistance to students, thereby enabling them to pursue their education and pave the way for a brighter future.
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
August, 2024
Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc's impact lies in providing low-interest student loans to undergraduate students with demonstrated financial need. By offering this financial support, the organization helps students pursue higher education without facing overwhelming financial burdens. This assistance plays a crucial role in enabling students to access educational opportunities that might otherwise be out of reach, ultimately contributing to their academic and professional success.
This information is meant to be a general summary of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc. 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 2021.
- Investment Income: $247
- Program Service Revenue: $61
- Gross Receipts: $4,058
Assets and Liabilities:
- Total Assets: $475,289
- Total Liabilities: $15,000
- Net Assets: $460,289
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$61
Organization Details
Founding Year
1964
Phone
(860) 677-4697Principal Officer
Kevin S Ray
Main Address
PO BOX 391, FARMINGTON, CT, 060340391
NTEE Category
Code: B82Z - Education
If you are a representative of Farmington Student Loan Foundation Inc C/O Budwitz & Meyerjack Pc 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.