Overview
What is The Virginia Foundation For Community College Education Inc?
Since its establishment in 2006, The Virginia Foundation for Community College Education Inc. has been committed to supporting students across Virginia's 23 community colleges. This nonprofit organization, located in Richmond, Virginia, has awarded over $5.4 million in scholarships and fellowships, helping numerous students enhance their chances of success. In the 2021-22 academic year alone, 118 scholarships worth $375,000 were granted. The prestigious Fellows Program, launched in 2011, provides full scholarship support to high-achieving second-year students, enabling them to complete associate degrees and develop leadership skills through a cohort model. To date, 235 students have benefited from mentoring and leadership training through this program. The Virginia Foundation for Community College Education Inc.'s mission is to ensure access to education and guarantee success for all students, regardless of their background. It accomplishes this by providing statewide leadership in fundraising for community college students, supplementing the activities of the 23 colleges, and backing system-wide initiatives that individual colleges cannot undertake.
Official website here: www.vfcce.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89%, Three-Star out of Four Star rating
The Virginia Foundation for Community College Education Inc has earned a commendable Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance, with an impressive score of 95. The organization demonstrates effective management practices, as evidenced by its 91% score in culture and community, indicating a commitment to fostering a positive environment and engaging with stakeholders.
Strengths of the foundation include a high level of independent board governance, with 96% of board members being independent, and excellent financial oversight mechanisms, achieving full points in audit and conflict of interest policies. The organization also shows robust financial health, evidenced by a working capital ratio of 3.55 years and a low liabilities to assets ratio of just 4.11%. Additionally, it excels in feedback collection and usage, underscoring a responsive approach to stakeholder input.
While the foundation displays strong metrics overall, its impact and measurement score of 80 suggests there may be areas for improvement in quantifying the effectiveness of its programs. Nonetheless, the foundation's commitment to leadership development and adaptability indicates a proactive approach to addressing challenges and enhancing its operations.
This AI summary has been generated from information found on Charity Navigator.
Is The Virginia Foundation For Community College Education Inc legitimate?
The Virginia Foundation For Community College Education Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Virginia Foundation For Community College Education 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: $934,754
For more financial information, click here
Official website here: www.vfcce.org
What is the mission statement of The Virginia Foundation For Community College Education Inc?
The Virginia Foundation for Community College Education's mission is centered around promoting student success and fostering the future of the commonwealth. They achieve this by offering statewide leadership in fundraising for community college students, supplementing the activities of the 23 colleges, and securing support for system-wide initiatives that individual colleges may not be able to undertake on their own. In essence, their mission is to ensure that education is accessible to all students, regardless of their background, and to support Virginia's community colleges in their endeavors.
Official website here: www.vfcce.org
What is the revenue of The Virginia Foundation For Community College Education Inc?
The Virginia Foundation For Community College Education Inc's revenue in 2024 was $5,247,332.
Official website here: www.vfcce.org
Who are the executives of The Virginia Foundation For Community College Education Inc and what are their salaries?
There 25 volunteers at The Virginia Foundation For Community College Education Inc.
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Official website here: www.vfcce.org
Where can I find the form 990 for The Virginia Foundation For Community College Education Inc?
The Virginia Foundation For Community College Education Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.vfcce.org
Learn more at the official website: www.vfcce.org
Mission Statement of The Virginia Foundation For Community College Education Inc
The Virginia Foundation for Community College Education, hereafter referred to as VFCCE, is committed to its mission of fostering student success and shaping the future of Virginia. This nonprofit organization plays a pivotal role in supporting Virginia's community colleges by providing statewide leadership. VFCCE raises funds for community college students, supplementing the activities of the 23 colleges in the state and securing support for system-wide initiatives that individual colleges may not be able to undertake on their own. By doing so, VFCCE plays a significant role in ensuring equitable access to education for students, regardless of their backgrounds.
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Impact
October, 2024
The Virginia Foundation For Community College Education Inc significantly enhances educational access and success for students across Virginia's 23 community colleges. Since its inception in 2006, the foundation has awarded over $5.4 million in scholarships, directly impacting hundreds of students by enabling them to pursue their academic goals regardless of their financial background.
For the 2021-22 academic year alone, 118 scholarships were awarded, totaling $375,000, which played a crucial role in increasing students' chances of success and helping them navigate the challenges of higher education.
The foundation also runs a prestigious Fellows Program that supports high-achieving second-year students with full scholarships, mentorship, and leadership training. Since its launch in 2011, this program has empowered 235 students to develop essential skills through a cohort model, fostering both academic and personal growth.
Overall, the foundation's commitment to building student success and strengthening Virginia's future is evident in its initiatives that drive educational attainment and community development.
This information is meant to be a general summary of The Virginia Foundation For Community College Education 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 2024.
- Investment Income: $422,701
- Gross Receipts: $11,270,103
Assets and Liabilities:
- Total Assets: $14,266,260
- Total Liabilities: $430,655
- Net Assets: $13,835,605
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Organization Details
Founding Year
1969
Principal Officer
Jennifer Gentry
Website
www.vfcce.orgNTEE Category
Code: B90 - Education
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