Overview
What is Central Lakes College Foundation?
Central Lakes College Foundation is a charitable organization located in Brainerd, Minnesota, specifically at 501 West College Drive. Its primary mission is to support Central Lakes College by raising funds for various projects and programs. This nonprofit organization contributes financially to enhance the learning experiences of students and the community. One of its key initiatives is providing scholarships to students attending Central Lakes College, thereby making higher education more accessible. Additionally, the Foundation offers housing options for students, ensuring they have appropriate living arrangements during their studies.
Official website here: www.clcmn.edu/scholarships/
What are the reviews and ratings of this charity?
Charity Navigator Rating 95%
Central Lakes College Foundation has received a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. The foundation's overall score is based entirely on its impressive accountability measures, achieving a score of 95% in this category. This rating signifies that the organization is effectively managing its resources and maintaining transparency in its financial operations.
Strengths of the foundation include a fully independent board of directors, with all 15 members meeting the independence criteria. The organization excels in areas such as having no material diversion of assets, a robust audit and oversight committee, and a high program expense ratio of 90.70%, indicating that a substantial portion of its funds is directed towards its programs and services. The foundation demonstrates strong financial health with a low liabilities-to-assets ratio and exceptional fundraising efficiency.
However, it is worth noting that the foundation lacks a whistleblower policy, which could be an area for improvement in terms of governance practices. Overall, the Central Lakes College Foundation shows a solid commitment to ethical standards and effective financial management, making it a reliable choice for donors looking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Central Lakes College Foundation legitimate?
Central Lakes College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Central Lakes College Foundation 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: $122,242
Professional Fundraising Fees: $0
Other Salaries and Wages: $170,441
For more financial information, click here
Official website here: www.clcmn.edu/scholarships/
What is the mission statement of Central Lakes College Foundation?
The Central Lakes College Foundation's mission is centered around providing support for students attending Central Lakes College. Specifically, they offer scholarships and housing options to help alleviate financial burdens and enhance the overall learning experience. Moreover, the foundation accepts donations, both monetary and in-kind, to fund various projects and programs that contribute to the college's educational and community initiatives. In essence, the Central Lakes College Foundation aims to facilitate academic success and personal growth for its students through financial aid and educational enrichment opportunities.
Official website here: www.clcmn.edu/scholarships/
Who is the CEO of Central Lakes College Foundation?
Kate Adornetto is the Executive Director of Central Lakes College Foundation.
Official website here: www.clcmn.edu/scholarships/
What is the revenue of Central Lakes College Foundation?
Central Lakes College Foundation's revenue in 2022 was $3,188,442.
Official website here: www.clcmn.edu/scholarships/
Who are the executives of Central Lakes College Foundation and what are their salaries?
There 50 volunteers at Central Lakes College Foundation.
Here are 18 key members and their salaries:
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- Related: $90,090
- Other: $29,085
Official website here: www.clcmn.edu/scholarships/
Where can I find the form 990 for Central Lakes College Foundation?
Central Lakes College Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clcmn.edu/scholarships/
Learn more at the official website: www.clcmn.edu/scholarships/
Mission Statement of Central Lakes College Foundation
The Central Lakes College Foundation plays a significant role in supporting the educational journey of students attending Central Lakes College. Their primary mission is twofold: providing scholarships and offering housing opportunities. Through their scholarship program, they help alleviate financial burdens, enabling deserving students to pursue their academic goals without being hindered by financial constraints. Additionally, the Foundation provides housing options, enhancing the overall college experience by offering a conducive living environment for students. These housing amenities are funded through donations and in-kind contributions, which are used to enrich various projects and programs, ultimately enriching student and community learning experiences on behalf of Central Lakes College.
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Impact
October, 2024
Central Lakes College Foundation plays a vital role in enhancing the educational experience for students at Central Lakes College in Brainerd, MN. By providing scholarships and housing, the foundation helps alleviate financial burdens, making higher education more accessible to a diverse range of students. Additionally, the foundation supports various projects and programs that enrich both student and community learning experiences.
Through generous donations, including in-kind contributions, the foundation invests in initiatives that promote academic success and personal development. This not only empowers students to achieve their educational goals but also strengthens community ties by fostering a culture of learning and support. Overall, the foundation's impact extends beyond individual scholarships, contributing to a vibrant educational environment that benefits both students and the broader community.
This information is meant to be a general summary of Central Lakes College Foundation. 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: $1,018,434
- Program Service Revenue: $569,330
- Gross Receipts: $6,235,208
Assets and Liabilities:
- Total Assets: $11,958,499
- Total Liabilities: $1,394,871
- Net Assets: $10,563,628
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$520,169
RESERVATION FEES
Revenue
$36,000
TENANT CHARGES
Revenue
$9,060
LAUNDRY AND VENDING
Revenue
$4,101
Organization Details
Founding Year
1968
Phone
(218) 855-8129Principal Officer
Kate Adornetto
Main Address
501 WEST COLLEGE DRIVE, BRAINERD, MN, 56401
Website
www.clcmn.edu/scholarships/NTEE Category
Code: B82 - Education
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