Overview
What is Penngift Foundation Inc?
Penngift Foundation Inc, located in Elverson, Pennsylvania, is a nonprofit organization dedicated to providing scholarship assistance to families with children attending private schools. During the current year, they granted 422 scholarships to students in various classes, ranging from pre-kindergarten to grade 12. With a minimal staff of two individuals, Penngift Foundation Inc plays a significant role in supporting families who wish to provide their children with a private school education.
Official website here: www.penngift.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% - Three-Star out of Four Star rating
The Penngift Foundation Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The overall score is derived from a comprehensive assessment of its financial practices, particularly excelling in areas such as an independent board and effective oversight, achieving top scores in key metrics related to asset management and program expenditures.
One notable strength of the organization is its fully independent board, which has been recognized for maintaining a high level of governance. The foundation has demonstrated a solid program expense ratio of 81.34%, indicating that a significant portion of its funds is directed towards its mission-related activities. Additionally, the foundation has no reported material diversions of assets, showcasing financial integrity.
However, the assessment does point out some limitations, particularly the absence of a conflict of interest policy and a whistleblower policy. While these factors have not critically impacted the overall rating, they could be areas for improvement to enhance transparency and stakeholder trust. Overall, the Penngift Foundation Inc shows a strong adherence to accountability, but addressing these policy gaps could strengthen its governance framework further.
This AI summary has been generated from information found on Charity Navigator.
Is Penngift Foundation Inc legitimate?
Penngift Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Penngift 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $46,527
For more financial information, click here
Official website here: www.penngift.org
What is the mission statement of Penngift Foundation Inc?
The Penngift Foundation Inc's mission is centered around providing scholarship assistance. Specifically, it aims to assist families with children who attend private schools. This philanthropic organization offers scholarships to students in various grade levels, including pre-kindergarten, kindergarten to 8th grade, and high school (grades 9-12). During the current year, the foundation granted 422 scholarships to eligible students.
Official website here: www.penngift.org
Who is the CEO of Penngift Foundation Inc?
Samuel E Rohrer is the President of Penngift Foundation Inc.
Official website here: www.penngift.org
What is the revenue of Penngift Foundation Inc?
Penngift Foundation Inc's revenue in 2022 was $1,987,601.
Official website here: www.penngift.org
Who are the executives of Penngift Foundation Inc and what are their salaries?
The average compensation at Penngift Foundation Inc during 2022 was $23,264. There are 2 employees and 5 volunteers at Penngift Foundation Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.penngift.org
Where can I find the form 990 for Penngift Foundation Inc?
Penngift Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.penngift.org
Learn more at the official website: www.penngift.org
Mission Statement of Penngift Foundation Inc
The Penngift Foundation Inc, as outlined in the provided information, is a nonprofit organization dedicated to providing scholarship assistance. Its primary mission is to extend financial aid to families who have children attending private schools. This mission is reflected in its activities, which involve awarding scholarships to students across various grade levels, including pre-kindergarten, kindergarten through eighth grade, and grades nine through twelve. During the recent year, the foundation distributed a total of 422 scholarships to eligible families. By offering this assistance, Penngift Foundation Inc aims to make private school education more accessible and affordable for families in need, thereby contributing to their children's educational opportunities.
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Impact
October, 2024
Penngift Foundation Inc significantly impacts families by providing scholarship assistance to those with children attending private schools. In the current year, it awarded 422 scholarships across three educational levels: Pre-Kindergarten, Kindergarten through 8th grade, and grades 9 through 12. This support alleviates financial burdens on families, enabling students to receive quality education in private institutions, and fosters an enriching academic environment that may not have been accessible otherwise. Situated in Elverson, PA, the foundation reinforces educational opportunities, empowering students and contributing to the community's overall advancement.
This information is meant to be a general summary of Penngift 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: $279
- Gross Receipts: $1,987,601
Assets and Liabilities:
- Total Assets: $2,360,118
- Total Liabilities: $0
- Net Assets: $2,360,118
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Organization Details
Founding Year
2001
Phone
(610) 286-1936Principal Officer
Samuel E Rohrer
Main Address
PO BOX 121, ELVERSON, PA, 19520
Website
www.penngift.orgNTEE Category
Code: B82 - Education
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