Overview
What is The Monroe Foundation Inc?
The Monroe Foundation Inc, based in New Rochelle, New York, is a nonprofit organization that focuses on providing educational opportunities to deserving individuals. They grant funds to institutions of higher education, which in turn, select qualified individuals for scholarship awards. The foundation's mission extends beyond financial aid, as it specifically supports underserved and veteran students, as well as others who require additional financial assistance to pursue or resume their education. By offering scholarships, The Monroe Foundation aims to remove financial barriers that could otherwise hinder qualified students from achieving higher education credentials.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star Rating)
The Monroe Foundation Inc has received an 80% rating from Charity Navigator, indicating a solid performance overall. The organization excels in its Impact & Measurement score, achieving a perfect score of 100. This reflects the foundation's effective programs and their ability to significantly increase income for scholarship recipients, demonstrating a positive return on investment.
However, the accountability and finance aspect of the organization scored lower at 54. This discrepancy suggests that there may be areas for improvement in transparency and financial management. Stakeholders may want to pay attention to these factors when considering their support for the foundation.
Overall, The Monroe Foundation Inc shows a strong impact on its beneficiaries, particularly in enhancing income through scholarships. However, potential donors should be aware of the organization's financial accountability challenges as they evaluate its overall reliability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is The Monroe Foundation Inc legitimate?
The Monroe Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Monroe Foundation 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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What is the mission statement of The Monroe Foundation Inc?
The Monroe Foundation's mission is centered around assisting deserving individuals in their pursuit of higher education. The organization places a significant emphasis on supporting underserved and veteran students, as well as others who require additional financial aid to continue or resume their education. The foundation's goal is to help alleviate financial barriers that might prevent qualified students from achieving higher education credentials, if left unaddressed. By offering financial assistance, The Monroe Foundation aims to contribute to the educational journey of these individuals, thereby broadening their opportunities.
Who is the CEO of The Monroe Foundation Inc?
Stephen Jerome is the President of The Monroe Foundation Inc.
What is the revenue of The Monroe Foundation Inc?
The Monroe Foundation Inc's revenue in 2022 was $644,866.
Who are the executives of The Monroe Foundation Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for The Monroe Foundation Inc?
The Monroe Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Monroe Foundation Inc
The Monroe Foundation Inc is dedicated to aiding deserving individuals in their pursuit of higher education. With a particular emphasis on supporting underserved and veteran students, the organization seeks to remove financial barriers that may prevent qualified students from continuing their education. By providing additional financial assistance, The Monroe Foundation Inc strives to ensure that these individuals can attain higher education credentials, thereby opening up new opportunities for personal and professional growth. In essence, The Monroe Foundation Inc serves as a beacon of hope for those who may otherwise be unable to afford higher education, thereby contributing to a more educated and equitable society.
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Impact
July, 2024
The Monroe Foundation Inc has a significant impact on deserving individuals pursuing higher education, particularly underserved and veteran students. By distributing grant funds to institutions of higher education for the provision of scholarships, the foundation enables qualified individuals to defray the costs of education. This support helps lift financial barriers that may otherwise prevent qualified students from continuing on the path to attaining higher education credentials. The Monroe Foundation's emphasis on assisting underserved and veteran students, among others, showcases its commitment to ensuring equal access to education for all.
This information is meant to be a general summary of The Monroe Foundation 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: $362,992
- Gross Receipts: $1,218,916
Assets and Liabilities:
- Total Assets: $1,965,085
- Total Liabilities: $226,921
- Net Assets: $1,738,164
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Organization Details
Founding Year
1993
Phone
(646) 393-8352Principal Officer
Stephen Jerome
Main Address
145 HUGUENOT STREET SUITE 102, NEW ROCHELLE, NY, 10801
NTEE Category
Code: B82Z - Education
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