Overview
What is James Madison University Foundation Inc?
The James Madison University Foundation Inc, located at 1031 Harrison Street, Harrisonburg, Virginia, 22807, is a nonprofit organization employing eight individuals. Its primary role is to provide scholarships and fellowships through grants to students, as determined by donor-established criteria or the foundation's board designation of unrestricted funds. Alongside this, the foundation implements prudent investment policies and stewardship to ensure the financial support of James Madison University remains sustainable and continues to grow. By collaborating with the university, they actively seek innovative giving opportunities and address critical funding initiatives.
Official website here: www.jmu.edu/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
James Madison University Foundation Inc has earned an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The rating is based entirely on metrics related to financial practices, with a score of 97% indicating a high level of transparency and fiscal responsibility. The foundation demonstrates excellent governance, featuring a fully independent board and robust audit oversight.
The organization excels in various key areas of financial management, such as having no material diversion of assets, a low liabilities-to-assets ratio, and a high program expense ratio, which shows that a significant portion of its budget is directed towards its mission. With a fundraising efficiency ratio of $0.02, the foundation effectively utilizes resources to maximize its impact, ensuring that donations are effectively transformed into programmatic support.
Overall, the James Madison University Foundation Inc stands out for its commitment to accountability and financial integrity. The comprehensive set of policies related to conflict of interest, whistleblower protections, and document retention further underscores its dedication to ethical operations, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is James Madison University Foundation Inc legitimate?
James Madison University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. James Madison University 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: $413,772
Professional Fundraising Fees: $0
Other Salaries and Wages: $467,896
For more financial information, click here
Official website here: www.jmu.edu/foundation
What is the mission statement of James Madison University Foundation Inc?
The James Madison University Foundation plays a crucial role in supporting the university by implementing sound investment policies and managing funds with care. Its mission is geared towards sustaining and enhancing financial resources for the institution, while working in partnership with the university to generate inventive methods for charitable giving. The foundation is dedicated to addressing critical funding initiatives and allocating resources, including scholarships and fellowships, to deserving students through grants based on donor-selected criteria or the foundation's board designations.
Official website here: www.jmu.edu/foundation
Who is the CEO of James Madison University Foundation Inc?
Cheryl Lindsay is the Ceo of James Madison University Foundation Inc. The CEO's salary of James Madison University Foundation Inc is $196,888 and their total compensation is $231,754.
Official website here: www.jmu.edu/foundation
What is the revenue of James Madison University Foundation Inc?
James Madison University Foundation Inc's revenue in 2022 was $37,424,979.
Official website here: www.jmu.edu/foundation
Who are the executives of James Madison University Foundation Inc and what are their salaries?
The average compensation at James Madison University Foundation Inc during 2022 was $110,208. There are 8 employees and 21 volunteers at James Madison University Foundation Inc.
Here are 26 key members and their salaries (James Madison University Foundation Inc's CEO's salary is $196,888 and their total compensation is $231,754):
- Compensation: $196,888
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- Other: $34,866
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Official website here: www.jmu.edu/foundation
Where can I find the form 990 for James Madison University Foundation Inc?
James Madison University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.jmu.edu/foundation
Learn more at the official website: www.jmu.edu/foundation
Mission Statement of James Madison University Foundation Inc
The James Madison University Foundation, a notable organization, is dedicated to ensuring the financial sustainability and growth of James Madison University through prudent investment policies and strategic collaboration. By prioritizing stewardship, this foundation nurtures a steady flow of financial resources to the University, enabling it to thrive and innovate.
In addition to maintaining a robust investment portfolio, the James Madison University Foundation works hand in hand with the University to generate fresh avenues of giving and addressing critical funding initiatives. Scholarships and fellowships are a significant aspect of the foundation's activities, with grants being extended to deserving students based on donor-established criteria or the Foundation's board designation of unrestricted funds. This investment in the students not only lightens the financial burden of their education but also paves the way for their future success.
The James Madison University Foundation's commitment to higher education extends beyond financial support, as it collaborates with the University to create opportunities that enrich the academic experience for students. This partnership empowers the University to provide an exceptional education and prepares its graduates for successful careers and meaningful contributions to society.
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Impact
October, 2024
The James Madison University Foundation Inc plays a pivotal role in enhancing the educational experience at James Madison University by providing essential financial support. Through prudent investment strategies and effective stewardship, the foundation ensures a sustainable source of funding for the university's critical initiatives.
By creating innovative avenues for giving, the foundation enables increased scholarship and fellowship opportunities, which are crucial for attracting and supporting students. Grants awarded to students are based on donor-established criteria or by the foundation's board designation of unrestricted funds, helping to alleviate financial burdens and promote access to higher education.
In Harrisonburg, Virginia, the foundation actively collaborates with the university to identify and address funding needs, ensuring that resources are directed toward the most pressing initiatives. This partnership not only bolsters the university’s budget but also fosters a thriving academic environment, thereby significantly impacting the lives of students and the broader community.
This information is meant to be a general summary of James Madison University 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 2022.
- Investment Income: $12,388,371
- Program Service Revenue: $326,363
- Gross Receipts: $64,705,736
Assets and Liabilities:
- Total Assets: $205,939,528
- Total Liabilities: $20,324,044
- Net Assets: $185,615,484
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rent income from affiliated exempt group
Revenue
$326,363
Organization Details
Founding Year
1969
Phone
(540) 568-3187Principal Officer
Cheryl Lindsay
Main Address
1031 Harrison Street MSC 8501, Harrisonburg, VA, 22807
Website
www.jmu.edu/foundationNTEE Category
Code: B820 - Education
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