Overview
What is Northeastern Illinois University Foundation?
The Northeastern Illinois University Foundation is a nonprofit organization situated in Chicago, Illinois. Its primary mission is to foster private support for the university, promote its mission, and manage contributions. The foundation plays a crucial role in maintaining the university's affordability while upholding high academic standards. It raises funds through contributions and grants, with a portion allocated to the foundation's endowment to benefit future students and university operations. The foundation also provides financial aid to students, including scholarships for those who might otherwise miss out on the excellent education offered at Northeastern Illinois University. A significant portion of the student body (70%) receives some form of financial aid, with a substantial part coming from private donations. The foundation's contributions enrich the university's resources, ensuring it maintains its academic excellence.
Official website here: www.neiu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Stars
The Northeastern Illinois University Foundation has earned a stellar Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The foundation's high score of 97% is based entirely on its exceptional performance in the Accountability & Finance category, indicating robust governance practices and fiscal responsibility.
Strengths highlighted in the evaluation include a fully independent board, effective oversight of financial statements, and no material diversion of assets. The foundation excels in various metrics, such as a program expense ratio of 93.44%, demonstrating that a significant portion of its budget is directed toward fulfilling its mission. Additionally, its fundraising efficiency is commendable, with only $0.01 spent to raise $1, showcasing cost-effective fundraising practices.
While the rating is impressive, it is essential to acknowledge that the foundation's score is derived solely from financial metrics and accountability measures. Potential donors may want to consider the foundation's programmatic impact and community engagement alongside its financial health when deciding to support its initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Northeastern Illinois University Foundation legitimate?
Northeastern Illinois University Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northeastern Illinois University 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:
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Official website here: www.neiu.edu
What is the mission statement of Northeastern Illinois University Foundation?
The Northeastern Illinois University Foundation's primary role is to secure private funding for the university, promote its mission, and manage contributions. This function is crucial in maintaining the university's affordability while maintaining high academic standards. Private donations, in conjunction with state resources, provide an additional layer of support that might otherwise be unattainable. The foundation's activities contribute significantly to ensuring the university's continued success.
Official website here: www.neiu.edu
Who is the CEO of Northeastern Illinois University Foundation?
Olga Camargo is the President of Northeastern Illinois University Foundation.
Official website here: www.neiu.edu
What is the revenue of Northeastern Illinois University Foundation?
Northeastern Illinois University Foundation's revenue in 2023 was $2,438,965.
Official website here: www.neiu.edu
Who are the executives of Northeastern Illinois University Foundation and what are their salaries?
There 24 volunteers at Northeastern Illinois University Foundation.
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- Related: $79,154
- Other: $10,806
Official website here: www.neiu.edu
Where can I find the form 990 for Northeastern Illinois University Foundation?
Northeastern Illinois University Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.neiu.edu
Learn more at the official website: www.neiu.edu
Mission Statement of Northeastern Illinois University Foundation
Northeastern Illinois University Foundation plays a crucial role in supporting the university by developing private contributions. Its primary mission is to promote the university's mission and administer these contributions effectively. By doing so, the foundation ensures that the university maintains its high academic standards while remaining affordable. Private donations, when combined with state resources, provide an additional layer of support that would otherwise be unattainable. This extra dimension of support is essential for the university's continued success and growth. In essence, the Northeastern Illinois University Foundation serves as a key facilitator, bridging the gap between the university's needs and the generosity of its supporters.
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Impact
October, 2024
Northeastern Illinois University Foundation significantly enhances the university's capacity to provide quality education and support for its students. By developing private contributions, the foundation has raised over $2.1 million in grants and donations for the fiscal year ending June 30, 2023. This funding plays a crucial role in maintaining the university's affordability while upholding rigorous academic standards.
In that year, the foundation allocated $827,561 to various academic and institutional programs, enriching the educational experience across colleges and departments. Additionally, it distributed nearly $941,946 in scholarships, enabling many students to access their desired education, particularly those who may not have the financial means otherwise. With around 70% of Northeastern students receiving some form of financial aid, the support from private donations is vital in bridging the gap and ensuring all students can benefit from the exceptional opportunities available at Northeastern Illinois University. Through these efforts, the foundation substantially contributes to the overall mission of the university, fostering academic excellence and cultural enrichment for a diverse student body in Chicago, IL.
This information is meant to be a general summary of Northeastern Illinois University 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 2023.
- Investment Income: $291,159
- Program Service Revenue: $29,459
- Gross Receipts: $3,744,093
Assets and Liabilities:
- Total Assets: $21,842,970
- Total Liabilities: $511,424
- Net Assets: $21,331,546
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT ADMISSIONS
Revenue
$29,459
Organization Details
Founding Year
1969
Phone
(773) 442-4248Principal Officer
Olga Camargo
Main Address
5500 NORTH ST LOUIS AVENUE, CHICAGO, IL, 60625
Website
www.neiu.eduNTEE Category
Code: B84 - Education
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