Overview
What is Epsilon Educational Endowment?
Epsilon Educational Endowment is a nonprofit organization situated in Grand Rapids, Michigan, with an address at 2740 Beechwood Drive SE, 49506. In the tax year 2021, the organization experienced a period of rebuilding, experiencing significant achievements in fundraising. Despite this, they did not provide any scholarships during this time. They did, however, grant funds to the Chi Psi Educational Trust. The mission of Epsilon Educational Endowment is to offer educational support and scholarships to students enrolled at the University of Michigan. Specifically, they prioritize students who are members of Chi Psi Fraternity at the University of Michigan.
Official website here: www.alphaepsilonofchipsi.com/campaign/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star Rating
Epsilon Educational Endowment has received a solid score of 83%, which reflects a strong commitment to accountability and finance. This rating is derived from a singular beacon score, indicating that the charity has demonstrated excellent practices in financial management and transparency. The charity's fiscal year 2023 data highlights a fully independent board with 100% independent members, contributing to its strong governance rating.
The organization excels in several key areas, including maintaining a high program expense ratio of 97.15%, indicating that the majority of its funds are directed towards its mission. Additionally, it has no material diversion of assets, which showcases its integrity in handling finances. However, it is noted that the charity lacks a whistleblower policy and a document retention and destruction policy, which could be seen as areas for improvement in governance practices.
Overall, while Epsilon Educational Endowment demonstrates strong financial accountability and a commitment to its mission, addressing the gaps in their policies could enhance their overall governance and operational transparency. The charity's performance suggests a reliable option for potential donors looking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Epsilon Educational Endowment legitimate?
Epsilon Educational Endowment is a legitimate nonprofit organization registered as a 501(c)(3) entity. Epsilon Educational Endowment 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: $0
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Official website here: www.alphaepsilonofchipsi.com/campaign/
What is the mission statement of Epsilon Educational Endowment?
The Epsilon Educational Endowment's mission is centered around providing scholarships and educational support to students, with a particular focus on members of Chi Psi Fraternity at the University of Michigan. Their mission objectives involve offering financial aid and educational resources to help students thrive academically. In the recent tax year 2021, the organization experienced success in fundraising, although no scholarships were awarded during that period. However, a grant was made to the Chi Psi Educational Trust.
Official website here: www.alphaepsilonofchipsi.com/campaign/
Who is the CEO of Epsilon Educational Endowment?
Steven Starnes is the President of Epsilon Educational Endowment.
Official website here: www.alphaepsilonofchipsi.com/campaign/
What is the revenue of Epsilon Educational Endowment?
Epsilon Educational Endowment's revenue in 2022 was $1,025,996.
Official website here: www.alphaepsilonofchipsi.com/campaign/
Who are the executives of Epsilon Educational Endowment and what are their salaries?
There 7 volunteers at Epsilon Educational Endowment.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.alphaepsilonofchipsi.com/campaign/
Where can I find the form 990 for Epsilon Educational Endowment?
Epsilon Educational Endowment's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.alphaepsilonofchipsi.com/campaign/
Learn more at the official website: www.alphaepsilonofchipsi.com/campaign/
Mission Statement of Epsilon Educational Endowment
Epsilon Educational Endowment, a nonprofit organization, is dedicated to providing scholarships and educational support primarily to students at the University of Michigan. With a special focus on members of Chi Psi Fraternity at the University of Michigan, this endowment aims to foster academic success and development among its beneficiaries. During the tax year 2021, the organization underwent a rebuilding phase, achieving significant success in fundraising efforts. Despite this progress, no scholarships were awarded in that year. However, a grant was extended to the Chi Psi Educational Trust, further demonstrating Epsilon Educational Endowment's commitment to supporting education and its affiliated fraternity.
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Impact
October, 2024
Epsilon Educational Endowment has made a significant impact by providing scholarships and educational support to students at the University of Michigan, with a focus on members of the Chi Psi Fraternity. During the 2021 tax year, while no scholarships were awarded directly, the organization demonstrated resilience and a strong commitment to its mission by achieving notable success in fundraising efforts. This rebuilding year laid the groundwork for future initiatives and collaborations, including a grant to the Chi Psi Educational Trust. By prioritizing educational resources for its members, Epsilon Educational Endowment fosters academic growth and facilitates access to higher education for its beneficiaries, thereby contributing to the overall educational landscape at the university.
This information is meant to be a general summary of Epsilon Educational Endowment. 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: $15,048
- Gross Receipts: $1,365,384
Assets and Liabilities:
- Total Assets: $667,164
- Total Liabilities: $0
- Net Assets: $667,164
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Organization Details
Founding Year
1968
Phone
(616) 802-4462Principal Officer
Steven Starnes
Main Address
2746 Beechwood Dr SE, Grand Rapids, MI, 49506
NTEE Category
Code: B82 - Education
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