Overview
What is Norfolk State University Foundation Inc And Subsidiary?
Norfolk State University Foundation Inc. and its subsidiary function as a vital nonprofit entity, primarily dedicated to supporting Norfolk State University. They accomplish this by disbursing scholarships to over 1,000 students annually, with a focus on financially disadvantaged and talented individuals. These scholarships are made possible through the generosity of various donors. By providing these funds, the foundation contributes to the university's academic environment, enabling many students to attend Norfolk State University. In addition, the foundation offers merit scholarships, which aid in recruiting and retaining top-ranked students from across the nation and globe. The foundation's mission is to financially bolster Norfolk State University, thereby contributing to its overall success.
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 95% (Four-Star out of Four Star rating)**
The Norfolk State University Foundation Inc. has achieved an impressive 95% rating from Charity Navigator, demonstrating robust financial health and accountability. This rating is largely based on its outstanding scores in various categories, including full marks for its independent board membership and audit oversight. The organization has no reported issues concerning asset diversion, indicating a high level of trustworthiness and effective financial management.
The Foundation excels in program efficiency, allocating a significant portion of its resources to program expenses, which reflects a strong commitment to its mission and stakeholders. Additionally, its fundraising efficiency ratio is noteworthy, suggesting that the organization is adept at managing resources in a cost-effective manner. However, while the rating highlights various strengths, areas such as Impact & Measurement, Culture & Community, and Leadership & Adaptability are currently unrated, leaving some aspects of organizational performance unassessed.
User reviews from GreatNonprofits could not be retrieved, leaving an absence of direct public sentiment and feedback concerning their engagement with the organization. As a result, while the financial metrics paint a positive picture, the lack of user insights may limit a comprehensive view of the Foundation's overall impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Norfolk State University Foundation Inc And Subsidiary legitimate?
Norfolk State University Foundation Inc And Subsidiary is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norfolk State University Foundation Inc And Subsidiary 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: $210,779
For more financial information, click here
What is the mission statement of Norfolk State University Foundation Inc And Subsidiary?
The Norfolk State University Foundation Inc. and its subsidiary are committed to providing financial support for Norfolk State University. This mission is fulfilled through scholarship disbursements to over a thousand students who are financially disadvantaged yet academically talented. These scholarships are made possible by generous donations from various contributors. The foundation also offers merit scholarships, enabling the university to attract and retain top-ranked students from around the nation and globally, thereby enriching the academic environment of the university.
Who is the CEO of Norfolk State University Foundation Inc And Subsidiary?
Crystal D Jenkins is the Director of Norfolk State University Foundation Inc And Subsidiary.
What is the revenue of Norfolk State University Foundation Inc And Subsidiary?
Norfolk State University Foundation Inc And Subsidiary's revenue in 2022 was $8,996,683.
Who are the executives of Norfolk State University Foundation Inc And Subsidiary and what are their salaries?
The average compensation at Norfolk State University Foundation Inc And Subsidiary during 2022 was $42,156. There are 5 employees and 29 volunteers at Norfolk State University Foundation Inc And Subsidiary.
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Where can I find the form 990 for Norfolk State University Foundation Inc And Subsidiary?
Norfolk State University Foundation Inc And Subsidiary's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Norfolk State University Foundation Inc And Subsidiary
Norfolk State University Foundation Inc and Subsidiary is committed to providing financial support to Norfolk State University. In pursuit of this mission, the foundation disburses scholarships to over 1,000 students each year, who are selected by the university as recipients of scholarships from funds established by various donors. The foundation's scholarships cater to financially disadvantaged, talented students, enabling many to attend Norfolk State University. The generosity of private donors, who contribute to the foundation, plays a significant role in this endeavor. Moreover, the foundation provides merit scholarships, which aid the university in recruiting and retaining top-ranked students from across the nation and the world, thereby enriching the academic environment of the university.
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Impact
October, 2024
Norfolk State University Foundation Inc. and Subsidiary plays a pivotal role in enhancing access to education for students at Norfolk State University. By providing financial support, the foundation enables over 1,000 students annually to benefit from scholarships specifically designated for those in need. These scholarships ensure that talented, financially disadvantaged students can pursue their academic goals, often making attendance at Norfolk State University possible for those who might not have the means otherwise.
The foundation's commitment to both need-based and merit scholarships enriches the academic environment by attracting and retaining high-achieving students from across the country and around the globe. This influx of diverse talent not only contributes to a dynamic and robust learning atmosphere but also elevates the overall reputation of the university. The generosity of private donors fuels this crucial support, demonstrating a collective investment in the future of the students and the institution itself. The foundation's impact is significant, as it empowers individuals to achieve their educational aspirations and fosters a community that values academic excellence and inclusivity.
This information is meant to be a general summary of Norfolk State University Foundation Inc And Subsidiary. 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: -$1,881,439
- Gross Receipts: $89,301,669
Assets and Liabilities:
- Total Assets: $98,346,627
- Total Liabilities: $317,849
- Net Assets: $98,028,778
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Organization Details
Founding Year
1971
Phone
(757) 823-2928Principal Officer
Crystal D Jenkins
Main Address
700 PARK AVENUE, NORFOLK, VA, 23504
NTEE Category
Code: B43I - Education
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