Overview
What is Lake Land College Foundation?
Lake Land College Foundation is a charitable organization situated in Mattoon, Illinois, with a primary objective of promoting the welfare of Lake Land College and its students. They primarily provide scholarships to deserving students, funded by generous donations from local individuals, businesses, and organizations. The scholarship criteria vary, following the donor's wishes or guidelines established by the Foundation's Board of Directors. Donors, who contribute significantly, are recognized annually and get the opportunity to meet their scholarship recipients. These donors, numbering over two decades of dedication, believe in the importance of community colleges and are committed to ensuring a skilled workforce for local businesses and industries. In addition to scholarships, the Foundation supports the college by providing resources to address unmet financial needs due to declining state support and a sluggish local property tax base. The Foundation also hosts an annual golf outing, which raises funds for its operations.
Official website here: www.lakelandcollege.edu
What are the reviews and ratings of this charity?
Charity Navigator rating: 95%, Four-Star out of Four Star rating
The Lake Land College Foundation has achieved a high rating of 95%, reflecting strong accountability and financial management. The organization's score is entirely derived from its robust Accountability & Finance metrics, indicating a high level of governance and transparency. Notably, the foundation boasts a fully independent board, and there are no reported issues regarding the diversion of assets, which is a crucial indicator of its integrity.
Strengths of the foundation include a low liabilities to assets ratio and impressive fundraising efficiency, with only $0.02 spent to raise a dollar. The program expense ratio is commendable at 79.61%, suggesting that a significant portion of funds is directed towards its programs rather than administrative costs. Furthermore, the organization has established comprehensive policies for conflict of interest, whistleblowing, and document retention, enhancing its operational reliability.
While the foundation excels in many areas, the program expense ratio, although good, could be improved further to increase the percentage of funds spent directly on programs. Overall, the Lake Land College Foundation demonstrates a strong commitment to accountability and effective financial practices, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Lake Land College Foundation?
88% of 274 reviewers on Facebook recommend Lake Land College Foundation. Here is a summary of their reviews:
Many students express a strong sense of pride in their experiences at Lake Land, highlighting the quality of classes and the valuable leadership opportunities available. The affordability of the programs also stands out, making education accessible while providing a solid foundation for their future careers.
Overall, the feedback suggests that participants feel well-supported and satisfied with their time at the college, appreciating both the educational offerings and the positive impact on their professional prospects.
This AI summary has been generated from reviews found on Facebook.
Is Lake Land College Foundation legitimate?
Lake Land College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Land 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $193,083
For more financial information, click here
Official website here: www.lakelandcollege.edu
What is the mission statement of Lake Land College Foundation?
The Lake Land College Foundation was established with a mission to aid Lake Land College in enhancing educational opportunities and services for its students, alumni, and district residents. The primary objective of the foundation is to provide scholarships to deserving students through funds contributed by individuals, agencies, and corporations. The foundation has been successful in awarding substantial scholarships to around 496 students annually, with the scholarship criteria and amounts determined by donors' wishes or guidelines established by the foundation's board of directors. Donors, hailing from diverse backgrounds, have been actively supporting the foundation for decades, believing in the importance of a trained workforce to meet local business and industry needs. In addition to scholarships, the foundation also organizes annual events, such as a golf outing, to raise funds for its operations and support the college's financial needs.
Official website here: www.lakelandcollege.edu
Who is the CEO of Lake Land College Foundation?
Christi Donsbach is the Director of Lake Land College Foundation.
Official website here: www.lakelandcollege.edu
What is the revenue of Lake Land College Foundation?
Lake Land College Foundation's revenue in 2023 was $3,437,842.
Official website here: www.lakelandcollege.edu
Who are the executives of Lake Land College Foundation and what are their salaries?
There 71 volunteers at Lake Land College Foundation.
Here are 21 key members and their salaries:
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- Other: $11,009
Official website here: www.lakelandcollege.edu
Where can I find the form 990 for Lake Land College Foundation?
Lake Land College Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lakelandcollege.edu
Learn more at the official website: www.lakelandcollege.edu
Mission Statement of Lake Land College Foundation
Lake Land College Foundation, established with a mission to aid Lake Land College, strives to enhance and expand the educational opportunities and services for students, alumni, and district citizens. The primary goal of this foundation is to provide scholarships to deserving students, using funds contributed by individuals, agencies, and corporations. Through generous donations, the foundation was able to award over $600,000 in scholarships to approximately 496 students last year, with the scholarship criteria and amounts varying based on donor wishes or guidelines set by the Lake Land College Foundation Board of Directors.
Donors, representing a diverse background from the 4,000-square-mile district, have been dedicated to supporting students for over two decades. They believe in the importance of community colleges and are committed to ensuring the region has a trained workforce that can meet local business and industry needs. Additionally, donors are expanding their support by providing additional resources to address unmet financial needs of the college due to declining state support and a sluggish local property tax base.
In addition to offering scholarships, the Lake Land College Foundation hosts an annual golf outing that raises funds for its operations, attracting volunteers and golfers from throughout the district. By participating in this event, they contribute to the foundation's mission and help support the educational endeavors of Lake Land College's students.
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Impact
October, 2024
Lake Land College Foundation significantly impacts educational opportunities for students, alumni, and residents in its district by providing substantial financial support through scholarships. In the past year alone, the foundation awarded $606,020 in scholarships to approximately 496 deserving students, helping to alleviate the financial burden of higher education.
The foundation operates under the guidance of its board of directors, ensuring that the awards align with the wishes of generous donors who contribute to the fund. This diverse group of supporters, which includes individuals, agencies, and corporations, recognizes the importance of a well-trained workforce to meet local business needs and has been committed to this cause for decades.
In addition to scholarship support, the foundation also conducts activities such as an annual golf outing that fosters community involvement and raises operational funds. These efforts are essential in addressing the unmet financial needs of Lake Land College, especially in the face of declining state support and a sluggish local property tax base. Through its mission, the Lake Land College Foundation plays a crucial role in enhancing educational services and opportunities, thereby promoting the welfare of the college and its community.
This information is meant to be a general summary of Lake Land 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 2023.
- Investment Income: $86,514
- Gross Receipts: $3,908,325
Assets and Liabilities:
- Total Assets: $17,342,249
- Total Liabilities: $602,211
- Net Assets: $16,740,038
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Organization Details
Founding Year
1970
Phone
(217) 234-5363Principal Officer
Christi Donsbach
Main Address
5001 LAKE LAND BOULEVARD, MATTOON, IL, 61938
Website
www.lakelandcollege.eduNTEE Category
Code: B41I - Education
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