Overview
What is Tri-County Scholarship Fund?
The Tri-County Scholarship Fund, established in 1981, is a dedicated nonprofit organization based in Mendham, New Jersey. Its mission is to offer financial assistance to deserving and economically disadvantaged children residing in Northern New Jersey, enabling them to attend accredited private and parochial schools from kindergarten through 12th grade. The fund awards partial scholarships annually to hundreds of students, creating a partnership between the schools, which discount their tuition, and the families, who cover the remaining balance. Scholarships vary in value, with kindergarten to 8th-grade scholarships worth $2,000 and high school scholarships ranging from $4,000 to $5,000. In 2022, the fund awarded 858 scholarships to eligible families, who, on average, earn an annual income of $30,000. The majority of these families are from inner-city areas and many are single-parent households. The students benefiting from these scholarships attend approximately 50 different value-based private schools in Northern New Jersey. The Tri-County Scholarship Fund is committed to helping these students achieve their full potential by providing them with a high-quality, values-based education. To support its mission, TCSF Holdings, LLC, a real estate holding company wholly-owned by the fund, holds title to property on its behalf.
Official website here: www.tcsfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% - Four-Star out of Four Stars
Tri-County Scholarship Fund has achieved an impressive Four-Star rating from Charity Navigator, reflecting a high level of accountability and financial management. The charity's score is entirely based on its outstanding performance in accountability and finance, highlighting its commitment to transparency and effective resource allocation. The organization has demonstrated no material diversions of assets and adheres to a robust set of governance policies.
The charity benefits from a fully independent board, with all members contributing to its strong governance structure. Notably, the financial health indicators are exceptionally positive, with a program expense ratio of over 86%, indicating that a significant portion of funds is directed towards its mission. Moreover, the fundraising efficiency is exceptional, with only $0.04 spent to raise each dollar, showcasing effective fundraising practices.
While the data highlights numerous strengths, it is essential for potential donors to remain engaged and informed about ongoing organizational activities. The metrics suggest strong management and operational effectiveness, but continuous assessment of program impact and community feedback will be vital for sustaining this level of excellence.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Tri-County Scholarship Fund?
While Tri-County Scholarship Fund has not received formal ratings yet, the feedback from the available reviews reflects a positive sentiment. One user described the organization as "simply fantastic," indicating a strong appreciation for its efforts.
Even with just a few reviews, the enthusiasm for the nonprofit suggests that it is making a meaningful impact in the community. The recommendation from the reviewer highlights confidence in the organization’s mission and effectiveness.
Overall, the early impressions of Tri-County Scholarship Fund signal a promising outlook, suggesting that it has the potential to deliver on its goals and support those it strives to help.
This AI summary has been generated from reviews found on Facebook.
Is Tri-County Scholarship Fund legitimate?
Tri-County Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tri-County 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: $244,028
Professional Fundraising Fees: $0
Other Salaries and Wages: $212,384
For more financial information, click here
Official website here: www.tcsfund.org
What is the mission statement of Tri-County Scholarship Fund?
The Tri-County Scholarship Fund's mission is to provide financial aid to deserving and financially disadvantaged children in Northern New Jersey, enabling them to obtain a high-quality, values-based education at accredited private elementary and secondary schools. This educational opportunity aims to help these students reach their full potential. The fund awards partial scholarships annually to hundreds of students, with the schools also discounting their tuition and families paying the balance. The scholarships range from $2,000 for kindergarten to 8th grade students to $4,000-$5,000 for high school students. In 2022, the fund awarded 858 scholarships, with the majority of recipient families having an average annual income of $30,000 and many coming from inner-city, single-parent households. Tri-County Scholarship students typically graduate from high school, proceed to college, and become independent, contributing members of society, attending approximately 50 different values-based private schools in Northern New Jersey.
Official website here: www.tcsfund.org
Who is the CEO of Tri-County Scholarship Fund?
Prudence Pigott is the Chair of Tri-County Scholarship Fund.
Official website here: www.tcsfund.org
What is the revenue of Tri-County Scholarship Fund?
Tri-County Scholarship Fund's revenue in 2022 was $4,548,687.
Official website here: www.tcsfund.org
Who are the executives of Tri-County Scholarship Fund and what are their salaries?
The average compensation at Tri-County Scholarship Fund during 2022 was $65,202. There are 7 employees and 100 volunteers at Tri-County Scholarship Fund.
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- Other: $19,028
Official website here: www.tcsfund.org
Where can I find the form 990 for Tri-County Scholarship Fund?
Tri-County Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tcsfund.org
Learn more at the official website: www.tcsfund.org
Mission Statement of Tri-County Scholarship Fund
The Tri-County Scholarship Fund, a nonprofit organization, has been dedicated since 1981 to providing financial assistance to deserving and economically disadvantaged children in Northern New Jersey. This aid enables these children to attend accredited private elementary and secondary schools. The fund awards partial scholarships annually to hundreds of students, creating a partnership between the schools, which discount their tuition, and the families, who pay the remaining balance.
The mission of the Tri-County Scholarship Fund is multifaceted. It aims to offer K-12 scholarships to financially disadvantaged children, enabling them to obtain a high-quality, values-based education at accredited private schools. This educational opportunity empowers these students, helping them to achieve their full potential. In 2022, the Tri-County Scholarship Fund awarded 858 scholarships, with the recipients' average annual income being $30,000. The majority of these families are from inner-city areas and many are single-parent households. The scholarship students typically attend approximately 50 different values-based private schools in Northern New Jersey. Notably, 100% of Tri-County Scholarship students graduate from high school, proceed to college, and become independent, contributing members of society.
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Impact
October, 2024
Tri-County Scholarship Fund significantly impacts the lives of financially disadvantaged children in Northern New Jersey by providing them access to high-quality, values-based education. Since its inception in 1981, the Fund has awarded partial scholarships that allow students from low-income families to attend accredited private elementary and secondary schools. In 2022 alone, it awarded 858 scholarships, primarily to families with an average annual income of $30,000, many of whom come from inner-city, single-parent households.
The scholarships typically cover $2,000 for students in kindergarten through 8th grade, and between $4,000 to $5,000 for high school students. This financial support, coupled with tuition discounts offered by partnering schools, enables families to bridge the gap between what they can afford and the cost of quality education.
One of the most remarkable outcomes is that nearly 100% of Tri-County Scholarship recipients graduate from high school, furthering their education in colleges and universities. These students not only achieve academic success but also become independent, contributing members of society, thus breaking the cycle of poverty and enhancing their communities. The Fund operates with a network of approximately 50 different private schools, ensuring that students receive an education that aligns with their values while fostering their overall development.
This information is meant to be a general summary of Tri-County 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: $161,567
- Gross Receipts: $6,984,352
Assets and Liabilities:
- Total Assets: $9,199,848
- Total Liabilities: $1,288,307
- Net Assets: $7,911,541
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Organization Details
Founding Year
1981
Phone
(973) 984-9600Principal Officer
Prudence Pigott
Main Address
14 WEST MAIN STREET, MENDHAM, NJ, 07945
Website
www.tcsfund.orgNTEE Category
Code: B82Z - Education
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