Overview
What is Pennsylvania College Of Technology Foundation Inc?
Pennsylvania College of Technology Foundation Inc is a charitable organization located in Williamsport, Pennsylvania. Their primary mission is to support the Pennsylvania College of Technology (PCT) by securing financial and other resources. This includes administering over 330 scholarship funds, fostering partnerships with businesses and industries, and providing direct financial assistance to students through scholarships and academic program enhancements. The Foundation also contributes to experiential learning opportunities, K-12 outreach efforts, and supplemental funding for the Madigan Library. Their goal is to aid PCT in delivering hands-on technical education, thereby meeting workforce requirements.
Official website here: www.pct.edu/give
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star rating
The Pennsylvania College Of Technology Foundation Inc has received a high score of 97% from Charity Navigator, indicating strong accountability and financial health. This rating reflects the organization's commitment to transparency and effective governance, as evidenced by its independent board consisting of 97% independent members and a comprehensive audit and oversight committee.
Financially, the foundation demonstrates a robust program expense ratio of 90.11%, signifying that a significant portion of its resources is directed towards its mission-related activities. Additionally, it maintains an impressive fundraising efficiency ratio of just $0.02, indicating that very little is spent on fundraising compared to the revenue generated.
While the organization has shown no material diversion of assets and has implemented sound policies like conflict of interest and whistleblower protections, the overall strong financial metrics highlight its operational effectiveness. This positions the foundation as a reliable entity within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Pennsylvania College Of Technology Foundation Inc legitimate?
Pennsylvania College Of Technology Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pennsylvania College Of Technology 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.pct.edu/give
What is the mission statement of Pennsylvania College Of Technology Foundation Inc?
The Pennsylvania College of Technology Foundation Inc's mission is to aid the Pennsylvania College of Technology in achieving its goal of providing hands-on technical education. To accomplish this, the foundation secures financial and other forms of support. This support is utilized in various ways, such as funding scholarships, enhancing academic programs, subsidizing equipment purchases, and providing experiential learning opportunities. The foundation also supports K-12 outreach efforts and supplements the Madigan Library's funding. Established scholarships within the foundation often honor Penn College alumni, students, faculty, and friends. Additionally, the foundation fosters mutually beneficial relationships with businesses and industry, contributing to the education needed to meet workforce requirements.
Official website here: www.pct.edu/give
Who is the CEO of Pennsylvania College Of Technology Foundation Inc?
Kyle A Smith is the Chairperson of Pennsylvania College Of Technology Foundation Inc.
Official website here: www.pct.edu/give
What is the revenue of Pennsylvania College Of Technology Foundation Inc?
Pennsylvania College Of Technology Foundation Inc's revenue in 2022 was $5,238,213.
Official website here: www.pct.edu/give
Who are the executives of Pennsylvania College Of Technology Foundation Inc and what are their salaries?
There 45 volunteers at Pennsylvania College Of Technology Foundation Inc.
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Official website here: www.pct.edu/give
Where can I find the form 990 for Pennsylvania College Of Technology Foundation Inc?
Pennsylvania College Of Technology Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pct.edu/give
Learn more at the official website: www.pct.edu/give
Mission Statement of Pennsylvania College Of Technology Foundation Inc
Pennsylvania College of Technology Foundation Inc's mission is centered around securing financial and other forms of support for the Pennsylvania College of Technology (PCT). This support is crucial in aiding PCT in achieving its mission of providing hands-on technical education. The foundation operates with this purpose in mind, administering over 330 scholarship funds that support various majors. Some of these funds were established in honor or memory of PCT alumni, students, faculty, and friends.
In addition to scholarship funds, the foundation also fosters partnerships with businesses and industries. This has been a long-standing tradition at PCT, and the foundation plays a significant role in developing and sustaining mutually beneficial relationships with these entities. These partnerships are integral to providing PCT students with the necessary level of instruction to meet workforce requirements.
The foundation's program service expenditures include grant allocations and expenses provided to PCT for the benefit of students. This support takes various forms, including direct financial assistance in the form of scholarships, the enhancement of academic programs, the subsidizing of equipment and technology purchases, and the funding of experiential learning opportunities. The foundation also supports K-12 outreach efforts and supplementally funds the Madigan Library at PCT. In essence, the mission of Pennsylvania College of Technology Foundation Inc is to assist PCT in its mission of providing technical education by securing financial and other forms of support, and by fostering partnerships with businesses and industries.
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Impact
October, 2024
The Pennsylvania College of Technology Foundation Inc significantly enhances the educational landscape by securing vital financial support for the Pennsylvania College of Technology (PCT). With a focus on providing hands-on technical education, the foundation administers over 330 scholarship funds that benefit various majors, many of which honor the legacy of alumni, students, faculty, and friends.
The foundation's efforts are crucial in building and maintaining partnerships with businesses and industries, ensuring that students receive the necessary training to meet workforce demands. These collaborations are not just beneficial but essential in enhancing the educational experience at PCT, equipping students with relevant skills and knowledge.
Financial contributions from the foundation facilitate direct assistance for students through scholarships, the enhancement of academic programs via subsidizing equipment and technology, and funding experiential learning opportunities. Additionally, the foundation supports K-12 outreach initiatives, further enriching the community and fostering interest in technical education pathways. It also provides supplemental funding for resources such as the Madigan Library, ensuring that students have access to necessary academic materials and support services.
Overall, the Pennsylvania College of Technology Foundation Inc plays a pivotal role in shaping the educational experiences of its students, promoting workforce readiness, and strengthening community connections through vital financial support and partnerships.
This information is meant to be a general summary of Pennsylvania College Of Technology 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: $1,288,104
- Gross Receipts: $9,665,420
Assets and Liabilities:
- Total Assets: $24,672,537
- Total Liabilities: $121,107
- Net Assets: $24,551,430
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Organization Details
Founding Year
1981
Phone
(570) 320-8020Principal Officer
Kyle A Smith
Main Address
ONE COLLEGE AVENUE, WILLIAMSPORT, PA, 17701
Website
www.pct.edu/giveNTEE Category
Code: B43 - Education
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