Overview
What is Montclair Scholarship Fund?
The Montclair Scholarship Fund is a charitable organization situated in Montclair, New Jersey, specifically at 100 Chestnut Street. Their primary focus is to provide financial aid in the form of scholarships to college-bound High School seniors who face financial hardships. This assistance includes covering college tuition costs, purchasing essential textbooks, and supplying necessary study materials. The organization's mission is deeply rooted in supporting students who aspire for higher education but may be constrained by financial circumstances.
Official website here: www.montclairscholarshipfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star Rating
The Montclair Scholarship Fund has received a solid Three-Star rating from Charity Navigator, reflecting its commitment to accountability and financial transparency. With a score of 93% in Accountability & Finance, the organization demonstrates strong governance practices, including an entirely independent board and comprehensive policies for conflict of interest and whistleblower protection. Its program expense ratio of 96.11% indicates that a significant portion of its funds directly supports its mission.
In addition to its financial strengths, the Montclair Scholarship Fund excels in its culture and community initiatives, achieving a perfect score of 100%. This includes effective feedback mechanisms that allow the organization to engage with its stakeholders meaningfully. The fund has demonstrated a strong commitment to incorporating feedback into its practices, ensuring that it remains responsive to the needs of the community it serves.
Overall, while the Montclair Scholarship Fund shows notable strengths in governance and community engagement, the rating suggests room for improvement in its operational aspects. However, the existing high scores in essential areas indicate that the organization is well-managed and focused on its mission of supporting scholarship opportunities.
This AI summary has been generated from information found on Charity Navigator.
Is Montclair Scholarship Fund legitimate?
Montclair Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montclair 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.
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Official website here: www.montclairscholarshipfund.org
What is the mission statement of Montclair Scholarship Fund?
The Montclair Scholarship Fund's primary mission is to provide financial aid in the form of scholarships to college-bound High School seniors who are in need. The organization aims to alleviate the financial burden of higher education for these students, covering their tuition fees, textbooks, and other necessary supplies. By doing so, the Montclair Scholarship Fund plays a significant role in enabling deserving students to pursue their academic dreams, despite their financial constraints. The fund's mission is centered around fostering educational opportunities and promoting social mobility through financial assistance.
Official website here: www.montclairscholarshipfund.org
Who is the CEO of Montclair Scholarship Fund?
Gerald A Fasanella is the Treasurer of Montclair Scholarship Fund.
Official website here: www.montclairscholarshipfund.org
What is the revenue of Montclair Scholarship Fund?
Montclair Scholarship Fund's revenue in 2023 was $611,429.
Official website here: www.montclairscholarshipfund.org
Who are the executives of Montclair Scholarship Fund and what are their salaries?
There 20 volunteers at Montclair Scholarship Fund.
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Official website here: www.montclairscholarshipfund.org
Where can I find the form 990 for Montclair Scholarship Fund?
Montclair Scholarship Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.montclairscholarshipfund.org
Learn more at the official website: www.montclairscholarshipfund.org
Mission Statement of Montclair Scholarship Fund
Montclair Scholarship Fund, a nonprofit organization, is committed to providing financial aid to college-bound high school seniors who are in need. Its mission is to award scholarships covering college tuition, textbooks, and essential supplies to these deserving students. By offering this financial support, the Fund aims to help these students overcome the financial barriers that often hinder their ability to pursue higher education. This, in turn, empowers them to build a brighter future for themselves.
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Impact
July, 2024
Montclair Scholarship Fund provides crucial financial support to college-bound High School seniors in Montclair, NJ, who have demonstrated financial need. By awarding scholarships for tuition, books, and supplies, the organization helps these students access higher education opportunities that may have been otherwise out of reach. This support not only benefits the individual recipients but also contributes to the overall educational attainment and economic mobility of the community. The impact of Montclair Scholarship Fund can be seen in the increased number of students who are able to pursue their academic goals and achieve success in college and beyond.
This information is meant to be a general summary of Montclair 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 2023.
- Investment Income: -$1,807
- Gross Receipts: $1,041,401
Assets and Liabilities:
- Total Assets: $1,145,924
- Total Liabilities: $0
- Net Assets: $1,145,924
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Organization Details
Founding Year
1957
Principal Officer
Gerald A Fasanella
Main Address
100 CHESTNUT STREET, MONTCLAIR, NJ, 07042
NTEE Category
Code: T30 - Philanthropy
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