Overview
What is Manheim Central School District Student Loan Fund Association?
The Manheim Central School District Student Loan Fund Association is a community-driven organization based in Manheim, Pennsylvania. Established in 1957, its primary mission is to offer education assistance to Manheim Central High School graduates by providing loans. As of September 30, 2023, 203 students have benefited from this initiative, with 1,040 students having received aid since its inception. Funding comes from local businesses and community leaders, as well as interest earned on student loans and restricted funds. The maximum loan amount is $16,000, dispersed annually in equal installments over four years, with repayment due within five years. During the fiscal year ending September 30, 2023, 37 new loans were granted, totaling $377,897 in disbursements, making it the second-highest disbursement amount in the association's history. Operating expenses for the association, which is run entirely by volunteers, amounted to just $1,567 during the same period.
Official website here: www.baronloan.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating.
The Manheim Central School District Student Loan Fund Association has received a solid rating of 83%, reflecting its strong performance in accountability and finance. The organization benefits from a fully independent board, with all members complying with governance standards. It has demonstrated effective financial management, evidenced by a zero liability ratio and a high program expense ratio of 82.8%, indicating that a significant portion of its funds is allocated towards its mission.
Despite these strengths, the organization has a few areas needing improvement. Notably, it lacks a whistleblower policy and a document retention and destruction policy, which could enhance its governance practices. While these aspects did not significantly impact its overall score, addressing them could provide a more robust framework for integrity and transparency within the organization.
Overall, the Manheim Central School District Student Loan Fund Association appears to operate effectively and responsibly, but it would benefit from strengthening its policies to further enhance its accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Manheim Central School District Student Loan Fund Association legitimate?
Manheim Central School District Student Loan Fund Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Manheim Central School District Student Loan Fund Association 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.baronloan.org
What is the mission statement of Manheim Central School District Student Loan Fund Association?
The Manheim Central School District Student Loan Fund Association is a community-driven organization dedicated to providing educational assistance. Its primary mission is to offer student loans to graduates from Manheim Central High School, as of September 30, 2023, who are pursuing further education. Since its inception in 1957, the association has aided over 1,040 students in their educational journeys. The maximum loan amount is $16,000, distributed annually in equal installments over four years. The repayment, including interest, is deferred until the students complete their education or obtain a degree, trade school certificate, or leave school. The repayment period is set within five years following these events. The funding for these loans comes from local community contributions and interest income generated from the student loans and cash reserves.
Official website here: www.baronloan.org
Who is the CEO of Manheim Central School District Student Loan Fund Association?
Unavailable
Official website here: www.baronloan.org
What is the revenue of Manheim Central School District Student Loan Fund Association?
Manheim Central School District Student Loan Fund Association's revenue in 2023 was $53,279.
Official website here: www.baronloan.org
Who are the executives of Manheim Central School District Student Loan Fund Association and what are their salaries?
There 11 volunteers at Manheim Central School District Student Loan Fund Association.
Here are 11 key members and their salaries:
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Official website here: www.baronloan.org
Where can I find the form 990 for Manheim Central School District Student Loan Fund Association?
Manheim Central School District Student Loan Fund Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.baronloan.org
Learn more at the official website: www.baronloan.org
Mission Statement of Manheim Central School District Student Loan Fund Association
The Manheim Central School District Student Loan Fund Association is a community-driven organization with a mission to aid Manheim Central High School graduates, numbering 203 as of September 30, 2023, in their pursuit of higher education. Established in 1957, this nonprofit has assisted a substantial 1,040 students to date. The association offers student loans, with a maximum loan amount of $16,000, which is disbursed annually in equal installments over a four-year period while the students are completing their education. The loan repayment, including interest, is deferred during this period, but the maturity debt must be repaid within five years of obtaining an associate's or bachelor's degree, a trade school certificate, or leaving school. The funding for these loans comes from local community contributions and interest income generated from the student loans and cash reserves.
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Impact
August, 2024
The Manheim Central School District Student Loan Fund Association has had a significant impact on the educational pursuits of Manheim Central High School graduates. Since its inception in 1957, the association has assisted a total of 1,040 students in pursuing further education. As of September 30, 2023, 203 graduates have received loans, with 101 enrolled full-time in undergraduate programs, 46 in deferred payment status pursuing graduate education, and 48 in repayment status.
The association's financial support, sourced from local community contributions and interest income from student loans, has enabled students to access higher education opportunities that they may not have been able to afford otherwise. In the fiscal year ended September 30, 2023, the association disbursed $377,897 in total loan payments, marking the second-highest amount in its history. This demonstrates the continued commitment of the association to empowering students in their educational endeavors.
Operating solely on volunteer efforts, with minimal expenses, the association ensures that the funds raised are primarily directed towards supporting students' educational aspirations. By providing loans of up to $16,000 distributed over four years, the association plays a vital role in fostering a culture of educational advancement within the Manheim community. Overall, the Manheim Central School District Student Loan Fund Association's impact is evident in the numerous students who have accessed higher education opportunities due to its support and dedication to ensuring educational access for all.
This information is meant to be a general summary of Manheim Central School District Student Loan Fund Association. 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: $9,443
- Program Service Revenue: $18,400
- Gross Receipts: $53,279
Assets and Liabilities:
- Total Assets: $1,774,520
- Total Liabilities: $0
- Net Assets: $1,774,520
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Student Loan Interest
Revenue
$18,400
Organization Details
Founding Year
1957
Phone
(717) 203-0458Main Address
243 FAIRVIEW RD, MANHEIM, PA, 175459610
Website
www.baronloan.orgNTEE Category
Code: B82 - Education
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