Overview
What is The Geneseo Foundation Inc?
The Geneseo Foundation Inc, located in Geneseo, New York, serves as a vital support system for Geneseo College. As a nonprofit organization, it offers financial aid, advocacy, and leadership to the college community, aiming to enrich the distinctive Geneseo experience. Their initiatives include providing merit scholarships for exceptional students, minority scholarships, assistantships, and professorships. Beyond financial aid, The Geneseo Foundation fosters engagement within the community, aiming to build an endowment for the college's future. With a team of two dedicated individuals, they strive to enhance the college experience and secure its long-term prosperity.
Official website here: www.foundation.geneseo
What are the reviews and ratings of this charity?
Charity Navigator Rating 97%
The Geneseo Foundation Inc has received a Four-Star out of Four Star rating from Charity Navigator, indicating exceptional accountability and financial health. With an overall score of 97%, the foundation demonstrates strong governance, as evidenced by its independent board composition and comprehensive oversight practices.
The foundation excels in its financial management, showcasing a high program expense ratio of 81.31%, which highlights its commitment to directing funds toward its mission. Its fundraising efficiency ratio of $0.03 indicates that it operates with minimal costs, maximizing the impact of donations. Additionally, the foundation maintains strong financial stability, evidenced by a low liabilities to assets ratio of 0.77%.
While the organization shows numerous strengths, it is important to acknowledge that its success is contingent on maintaining these high standards. The accountability measures in place, including conflict of interest and whistleblower policies, contribute to its operational integrity. Overall, The Geneseo Foundation Inc stands out as a trustworthy nonprofit committed to its mission and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is The Geneseo Foundation Inc legitimate?
The Geneseo Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Geneseo Foundation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $79,353
Other Salaries and Wages: $62,306
For more financial information, click here
Official website here: www.foundation.geneseo
What is the mission statement of The Geneseo Foundation Inc?
The Geneseo Foundation Inc's mission is to offer financial aid, leadership, and advocacy to the college community. Their goal is to engage and enhance the distinctive Geneseo experience, while also building an endowment for the future. The foundation provides scholarships, with examples including merit scholarships for exceptional students, minority scholarships, and assistantships and professorships. Their activities aim to support and strengthen the college community.
Official website here: www.foundation.geneseo
What is the revenue of The Geneseo Foundation Inc?
The Geneseo Foundation Inc's revenue in 2024 was $4,717,152.
Official website here: www.foundation.geneseo
Who are the executives of The Geneseo Foundation Inc and what are their salaries?
The average compensation at The Geneseo Foundation Inc during 2024 was $20,769. There are 3 employees and 32 volunteers at The Geneseo Foundation Inc.
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Official website here: www.foundation.geneseo
Where can I find the form 990 for The Geneseo Foundation Inc?
The Geneseo Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.foundation.geneseo
Learn more at the official website: www.foundation.geneseo
Mission Statement of The Geneseo Foundation Inc
The Geneseo Foundation plays a significant role in supporting the college community financially, offering leadership, and advocating for engagement. Its mission is to enhance the unique Geneseo experience and build an endowment for the future. The foundation fosters engagement within the college community, aiming to improve the educational environment and secure a strong financial foundation for the future. It provides scholarships, including merit scholarships for outstanding students, minority scholarships, assistantships, and professorships. By offering these scholarships, The Geneseo Foundation helps to nurture academic excellence and promote diversity within the college community.
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Impact
October, 2024
The Geneseo Foundation Inc plays a critical role in enhancing the educational landscape of the college community by providing substantial financial support, leadership, and advocacy. In its commitment to fostering engagement and enriching the unique Geneseo experience, the Foundation has allocated nearly a million dollars in scholarships, totaling $994,019. This funding includes merit scholarships for outstanding students, as well as targeted initiatives such as minority scholarships and assistantships.
Through its efforts, the Foundation not only supports individual students in their academic pursuits but also works to build a sustainable endowment that ensures the future vitality of the college. By engaging with the community and promoting leadership initiatives, the Geneseo Foundation Inc significantly contributes to the overall educational experience, helping to create a vibrant and inclusive environment for all students.
This information is meant to be a general summary of The Geneseo Foundation 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 2024.
- Investment Income: $113,808
- Program Service Revenue: $350,112
- Gross Receipts: $53,180,207
Assets and Liabilities:
- Total Assets: $44,280,576
- Total Liabilities: $266,802
- Net Assets: $44,013,774
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COLLEGE ACTIVITY INCOME
Revenue
$350,112
Organization Details
Founding Year
1971
Principal Officer
Robert Walley
Website
www.foundation.geneseoNTEE Category
Code: B82Z - Education
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