Overview
What is John Pettibone Memorial Scholarship Fund Inc?
John Pettibone Memorial Scholarship Fund Inc is a nonprofit organization situated in the New Milford area. Its primary mission is to offer educational scholarships to high school seniors who require financial aid for their college education. Through its programs, the organization grants scholarships to deserving students, aiming to alleviate their financial burdens and support their higher education goals. The organization's activities are centered around scholarship provision, making it an essential resource for local students seeking financial assistance for their college education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating)
The John Pettibone Memorial Scholarship Fund Inc has received a 73% rating from Charity Navigator, indicating some strengths in its overall accountability and finance practices. The charity demonstrates a commitment to governance with a fully independent board comprising 14 members, which earns it full points in both majority independent board members and independent board size assessments. Additionally, there have been no reported material diversions of assets, further highlighting its financial integrity.
The organization shows strong program efficiency with an impressive program expense ratio of 90.18%, indicating that a significant portion of its funds is directed toward its scholarship initiatives. The absence of liabilities also reflects a healthy financial position, with a liabilities to assets ratio of 0.00%. Furthermore, the charity maintains transparency through the documentation of board meeting minutes, contributing positively to its accountability rating.
However, the overall score relies solely on the accountability and finance beacon, which might not provide a comprehensive view of the charity's effectiveness in achieving its mission. While the financial indicators are commendable, potential donors and stakeholders may want to consider additional factors such as impact and community engagement before making contributions.
This AI summary has been generated from information found on Charity Navigator.
Is John Pettibone Memorial Scholarship Fund Inc legitimate?
John Pettibone Memorial Scholarship Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. John Pettibone Memorial Scholarship Fund 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.
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What is the mission statement of John Pettibone Memorial Scholarship Fund Inc?
The John Pettibone Memorial Scholarship Fund Inc is committed to providing educational assistance to high school seniors in need. The organization's mission is to offer scholarships to these individuals, enabling them to pursue higher education despite financial constraints. By granting educational scholarships, the fund aims to empower young individuals, broadening their opportunities and contributing to their personal growth and development. The John Pettibone Memorial Scholarship Fund Inc's activities are primarily focused on awarding scholarships, providing a vital lifeline for deserving students in their pursuit of higher education.
Who is the CEO of John Pettibone Memorial Scholarship Fund Inc?
Robert Marandola is the Board Member of John Pettibone Memorial Scholarship Fund Inc.
What is the revenue of John Pettibone Memorial Scholarship Fund Inc?
John Pettibone Memorial Scholarship Fund Inc's revenue in 2022 was $134,258.
Who are the executives of John Pettibone Memorial Scholarship Fund Inc and what are their salaries?
Here are 14 key members and their salaries:
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Where can I find the form 990 for John Pettibone Memorial Scholarship Fund Inc?
John Pettibone Memorial Scholarship Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of John Pettibone Memorial Scholarship Fund Inc
The John Pettibone Memorial Scholarship Fund is an organization committed to providing educational scholarships. Its mission, in simple terms, is to offer financial assistance to high school seniors residing in the New Milford area who require aid for their college education. The organization accomplishes this by granting educational scholarships as part of its programs. By doing so, it enables deserving students to pursue their academic dreams, thereby fostering a more educated and prosperous community.
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Impact
October, 2024
The John Pettibone Memorial Scholarship Fund Inc significantly impacts the lives of high school seniors in the New Milford area by offering essential financial assistance for college education. By providing educational scholarships, the Fund helps bridge the gap for students who may face financial hardships, enabling them to pursue higher education and achieve their academic goals. This support not only fosters individual growth and development but also contributes to the overall advancement of the community by empowering young individuals to further their education and broaden their future opportunities.
This information is meant to be a general summary of John Pettibone Memorial Scholarship Fund 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: $91,509
- Gross Receipts: $268,014
Assets and Liabilities:
- Total Assets: $453,431
- Total Liabilities: $0
- Net Assets: $453,431
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Organization Details
Founding Year
1951
Phone
(203) 417-4256Principal Officer
Robert Marandola
Main Address
74 SQUASH HOLLOW ROAD, NEW MILFORD, CT, 06776
NTEE Category
Code: B82Z - Education
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