Overview
What is Kentucky State University Foundation Inc?
Kentucky State University Foundation Inc is a nonprofit organization, situated in Frankfort, Kentucky. Its primary mission is to manage scholarship funds for eligible students, while also providing financial assistance for the academic programs and activities at Kentucky State University. The foundation's role is crucial in supporting the educational journey of students and enhancing the university's academic offerings. With a modest team of two dedicated individuals, they work diligently to contribute to the overall success of Kentucky State University.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
The Kentucky State University Foundation Inc has demonstrated strong performance in accountability and finance, reflected in its 94% score, which earns it a Four-Star rating. This rating is solely based on the accountability and finance beacon, indicating a high level of transparency and financial health within the organization, as assessed in the most recent fiscal year, FY2023.
A key strength of the foundation is its governance structure, with 95% of its board members being independent. This independence, along with a large board size of 20 members, contributes to effective oversight. The organization scores perfectly on various governance policies, including conflict of interest and whistleblower protections, further enhancing its credibility.
Financially, the foundation exhibits a strong program expense ratio of 71.36%, ensuring that a significant portion of its resources directly supports its mission. Additionally, the low liabilities to assets ratio of 0.07% indicates sound financial practices. Overall, the Kentucky State University Foundation Inc is positioned as a reliable and well-managed nonprofit organization, though specific programmatic outcomes and impact metrics were not detailed in this rating.
This AI summary has been generated from information found on Charity Navigator.
Is Kentucky State University Foundation Inc legitimate?
Kentucky State University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky State 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: $126,668
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Kentucky State University Foundation Inc?
The Kentucky State University Foundation Inc's primary mission is to manage and distribute scholarship funds to eligible students, as well as provide financial support for the academic programs and activities at Kentucky State University. Their role is crucial in ensuring that deserving students have the financial means to pursue their education, while also enhancing the overall academic experience at the university. The foundation's activities are geared towards fostering academic growth and development within the university community.
Who is the CEO of Kentucky State University Foundation Inc?
Willie Peale is the President of Kentucky State University Foundation Inc.
What is the revenue of Kentucky State University Foundation Inc?
Kentucky State University Foundation Inc's revenue in 2022 was $1,229,754.
Who are the executives of Kentucky State University Foundation Inc and what are their salaries?
The average compensation at Kentucky State University Foundation Inc during 2022 was $63,334. There are 2 employees and 22 volunteers at Kentucky State University Foundation Inc.
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Where can I find the form 990 for Kentucky State University Foundation Inc?
Kentucky State University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Kentucky State University Foundation Inc
Kentucky State University Foundation Inc plays a crucial role in supporting the academic pursuits of eligible students. Their primary mission is to manage and distribute scholarship funds, as well as provide monetary assistance for various academic programs and activities within Kentucky State University. By doing so, they aim to foster an environment that encourages learning and growth for the university's students. This nonprofit organization's mission is instrumental in ensuring that deserving students have the financial means to pursue their education, thereby contributing to the university's overall academic success and development.
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Impact
October, 2024
Kentucky State University Foundation Inc plays a vital role in enhancing educational opportunities for students. By administering scholarship funds, it provides financial support to eligible students, making higher education more accessible and reducing the financial barriers that many face. This support not only empowers individual students but also fosters a diverse and dynamic academic environment at Kentucky State University.
Additionally, the Foundation allocates monetary resources for various academic programs and activities, enriching the overall educational experience. This contribution ensures that the university can offer quality programs, improve facilities, and support faculty initiatives, ultimately benefiting the entire student body. As a result, the Foundation's efforts significantly impact student success and academic excellence at Kentucky State University.
This information is meant to be a general summary of Kentucky State 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: $622,774
- Gross Receipts: $1,229,754
Assets and Liabilities:
- Total Assets: $12,278,931
- Total Liabilities: $5,004
- Net Assets: $12,273,927
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Organization Details
Founding Year
1968
Phone
(502) 875-0187Principal Officer
Willie Peale
Main Address
PO BOX 4210, FRANKFORT, KY, 40604
NTEE Category
Code: B110 - Education
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