Overview
What is Medical Education Foundation Academy?
The Medical Education Foundation Academy is a nonprofit organization that extends financial aid to medical students. Their primary objective is to support students in their pursuit of a medical career by offering loans to help alleviate income pressure and cover tuition expenses. Based on the provided information, the foundation operates with a clear mission to foster the growth of future medical professionals. They do not disclose their location in the provided data.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating)
The Medical Education Foundation Academy has received a Two-Star rating from Charity Navigator, with an overall score of 73%. This rating reflects the organization's accountability and financial health, with strong performance in areas such as board independence and financial ratios. However, the foundation has notable shortcomings, particularly in governance policies that could enhance transparency.
Strengths of the organization include a fully independent board and a solid framework for financial management, indicated by a perfect score in several financial ratios and asset management metrics. These aspects suggest that the foundation is well-managed and committed to its financial obligations. The board's governance structure is robust, ensuring that decisions are made with accountability.
Despite these strengths, the organization has critical gaps in its governance practices. The absence of essential policies like a conflict of interest policy and a whistleblower policy raises concerns about its commitment to operational transparency and ethical standards. Additionally, the missing tax form on the nonprofit's website is a significant oversight, which could affect stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Medical Education Foundation Academy legitimate?
Medical Education Foundation Academy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Education Foundation Academy 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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Other Salaries and Wages: $0
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What is the mission statement of Medical Education Foundation Academy?
The Medical Education Foundation Academy's mission is centered around supporting medical students by providing them with financial aid in the form of loans. This initiative aims to alleviate financial burdens, enabling students to concentrate on their studies and ultimately pursue careers in medicine. The foundation's primary objective is to assist in subsidizing their income and covering tuition expenses, thereby facilitating their journey towards becoming qualified medical professionals.
Who is the CEO of Medical Education Foundation Academy?
David Neidhardt Md is the Board Member of Medical Education Foundation Academy.
What is the revenue of Medical Education Foundation Academy?
Medical Education Foundation Academy's revenue in 2022 was $56,189.
Who are the executives of Medical Education Foundation Academy and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Medical Education Foundation Academy?
Medical Education Foundation Academy's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Medical Education Foundation Academy
The Medical Education Foundation Academy, a nonprofit organization, is committed to providing financial assistance to medical students. Their mission is to aid these aspiring healthcare professionals by offering loans to help subsidize their income and cover the substantial costs associated with obtaining a medical degree. By doing so, the Academy aims to support students in their pursuit of a career in medicine, thereby contributing to the medical field and ultimately improving patient care.
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Impact
August, 2024
Medical Education Foundation Academy's impact can be seen in the support they provide to medical students through their loan programs. By offering financial assistance, they enable aspiring medical professionals to pursue their dreams by covering tuition costs and subsidizing their income. This support plays a crucial role in helping these students navigate the high costs associated with medical education and ultimately contributes to the advancement of healthcare by facilitating the development of future healthcare professionals.
This information is meant to be a general summary of Medical Education Foundation Academy. 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: $53,965
- Program Service Revenue: $326
- Gross Receipts: $68,638
Assets and Liabilities:
- Total Assets: $1,023,136
- Total Liabilities: $0
- Net Assets: $1,023,136
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Interest Income
Revenue
$326
Organization Details
Founding Year
1971
Phone
(419) 203-2150Principal Officer
David Neidhardt Md
Main Address
730 W Market Street, Lima, OH, 45801
NTEE Category
Code: B50 - Education
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