Overview
What is Mhc Academic Foundation?
Mhc Academic Foundation, located in Martinsville, Virginia, is a nonprofit organization with a mission to support educational growth and development in the area. They accomplish this by providing financial and other forms of assistance, specifically extending their support to New College Institute and students enrolled there. The foundation's primary objective is to foster the creation and delivery of degree programs and various courses, strategically addressing critical shortage areas and industry needs within the state. By offering direct and indirect support to these initiatives, Mhc Academic Foundation plays a crucial role in enhancing educational opportunities in Martinsville and Henry County, Virginia.
Official website here: www.mhcaf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Mhc Academic Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. A score of 96% indicates a robust financial management system, with all board members being fully independent and a well-defined audit and oversight committee. The foundation excels in transparency, having established documented policies for conflict of interest, whistleblower protection, and asset management.
With a program expense ratio of 79.68%, the foundation directs a significant portion of its resources towards its charitable programs, which is a positive indicator of its operational focus. Additionally, maintaining a liabilities to assets ratio of just 0.33% suggests a healthy financial position, allowing for sustainable practices and continued service delivery. The foundation's commitment to accountability is further underscored by its comprehensive documentation of board meeting minutes and adherence to regulatory requirements.
While the Mhc Academic Foundation displays a strong commitment to financial integrity and transparency, potential donors may wish to look for further insights into specific program impacts and outcomes. Overall, the organization stands out as a reliable and effective nonprofit, dedicated to its mission and exhibiting responsible stewardship of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Mhc Academic Foundation legitimate?
Mhc Academic Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mhc Academic Foundation 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: $76,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,386
For more financial information, click here
Official website here: www.mhcaf.org
What is the mission statement of Mhc Academic Foundation?
The Mhc Academic Foundation is dedicated to providing financial and other forms of support for the dissemination of education. This includes backing the New College Institute in Martinsville and Henry County, Virginia, with the aim of addressing critical shortage areas and industry needs through the delivery of degree programs and courses. The foundation actively encourages and coordinates the development and delivery of these educational offerings, offering direct and indirect support to both the New College Institute and its students.
Official website here: www.mhcaf.org
Who is the CEO of Mhc Academic Foundation?
Jonathan Martin is the Treasurer of Mhc Academic Foundation.
Official website here: www.mhcaf.org
What is the revenue of Mhc Academic Foundation?
Mhc Academic Foundation's revenue in 2023 was $669,738.
Official website here: www.mhcaf.org
Who are the executives of Mhc Academic Foundation and what are their salaries?
The average compensation at Mhc Academic Foundation during 2023 was $38,793. There are 2 employees at Mhc Academic Foundation.
Here are 8 key members and their salaries:
- Compensation: $77,400
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mhcaf.org
Where can I find the form 990 for Mhc Academic Foundation?
Mhc Academic Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mhcaf.org
Learn more at the official website: www.mhcaf.org
Mission Statement of Mhc Academic Foundation
The Mhc Academic Foundation is committed to providing both financial and other forms of support for the dissemination of education in various capacities. Specifically, its mission focuses on backing the New College Institute in Martinville and Henry County, Virginia. This nonprofit organization plays a significant role in encouraging and coordinating the development and delivery of degree programs and various credit and non-credit courses. The primary objective is to address statewide critical shortage areas and meet the needs of local industries. To achieve this goal, the Mhc Academic Foundation offers direct and indirect support to both the New College Institute and the students attending it. In essence, the Mhc Academic Foundation serves as a catalyst for educational growth and development in the field, ensuring it aligns with the needs of the community.
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Impact
July, 2024
Mhc Academic Foundation's impact is significant in supporting the dissemination of education in Martinsville and Henry County, Virginia. Specifically, the foundation plays a key role in providing financial and other support for the New College Institute and its students. By encouraging and coordinating the development and delivery of degree programs, credit courses, and non-credit courses, the foundation addresses critical shortage areas and industry needs in the region. The foundation's efforts ultimately contribute to enhancing educational opportunities and workforce development in Martinsville and Henry County.
This information is meant to be a general summary of Mhc Academic Foundation. 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: $650,438
- Gross Receipts: $4,120,991
Assets and Liabilities:
- Total Assets: $13,028,839
- Total Liabilities: $43,506
- Net Assets: $12,985,333
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Organization Details
Founding Year
2006
Phone
(276) 403-4445Principal Officer
Jonathan Martin
Main Address
PO BOX 492, MARTINSVILLE, VA, 24114
Website
www.mhcaf.orgNTEE Category
Code: B114 - Education
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