Overview
What is The Corporation For Penn State?
The Corporation for Penn State, based in University Park, Pennsylvania, is a nonprofit organization that primarily serves to support and enhance the interests of The Pennsylvania State University. Located at 308 Old Main, this entity holds and manages assets aimed at benefiting the university. It exists for an exclusive purpose, ensuring the well-being and growth of The Pennsylvania State University.
Official website here: www.psu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (57%)
The Corporation for Penn State has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score is solely based on its accountability and finance metrics, where it scored 57%. While the organization boasts a strong governance structure with 63% independent board members, it faces severe limitations in financial metrics such as a program expense ratio of 0.00%, suggesting a lack of funds allocated to its intended programs.
The positive aspects include comprehensive policies on conflicts of interest and whistleblowing, along with transparent board meeting documentation. However, the organization exhibits a high liabilities to assets ratio of 90.11%, which raises red flags regarding its financial health. The absence of funds directed towards program expenses may hinder its ability to fulfill its mission effectively.
Additionally, the salaries of key personnel reflect substantial compensation, which could be perceived as misaligned with the organization's financial priorities. Overall, while The Corporation for Penn State demonstrates strong governance practices, the financial inefficiencies could impact its viability and effectiveness as a nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is The Corporation For Penn State legitimate?
The Corporation For Penn State is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Corporation For Penn State 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: $0
For more financial information, click here
Official website here: www.psu.edu
What is the mission statement of The Corporation For Penn State?
The Corporation for Penn State is established with the primary objective of supporting and advancing the interests of The Pennsylvania State University. Its mission is to manage and utilize assets for the betterment of the university. Essentially, its role is to contribute to the success and growth of Penn State University.
Official website here: www.psu.edu
What is the revenue of The Corporation For Penn State?
The Corporation For Penn State's revenue in 2024 was $6,380.
Official website here: www.psu.edu
Who are the executives of The Corporation For Penn State and what are their salaries?
Here are 15 key members and their salaries:
- Compensation: $0
- Related: $1,378,476
- Other: $56,351
- Compensation: $0
- Related: $641,087
- Other: $61,195
- Compensation: $0
- Related: $606,645
- Other: $40,407
- Compensation: $0
- Related: $548,583
- Other: $51,574
- Compensation: $0
- Related: $465,965
- Other: $48,684
- Compensation: $0
- Related: $403,860
- Other: $42,054
- Compensation: $0
- Related: $242,908
- Other: $518
- Compensation: $0
- Related: $149,057
- Other: $68,521
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.psu.edu
Where can I find the form 990 for The Corporation For Penn State?
The Corporation For Penn State's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.psu.edu
Learn more at the official website: www.psu.edu
Mission Statement of The Corporation For Penn State
The Corporation for Penn State is dedicated to enhancing and furthering the well-being of The Pennsylvania State University. Serving as its exclusive beneficiary, this organization's primary mission is to advance the interests of the university in an all-encompassing manner. By holding and managing assets for the institution's benefit, The Corporation for Penn State plays a significant role in supporting and promoting the growth and success of The Pennsylvania State University.
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Impact
October, 2024
The Corporation for Penn State plays a vital role in supporting and enhancing the mission of The Pennsylvania State University. By holding assets and providing general support, it directly contributes to the university's educational initiatives, infrastructure, and community engagement. Its focus on promoting the interests of Penn State aids in fostering an environment conducive to academic excellence, research advancements, and student development. This support helps to maintain the institution's reputation, attract talent, and drive innovation, ultimately benefiting students, faculty, and the larger community associated with the university. Through its strategic initiatives, The Corporation for Penn State ensures that the university can continue to thrive and adapt to an evolving educational landscape.
This information is meant to be a general summary of The Corporation For Penn State. 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.
- Gross Receipts: $6,380
Assets and Liabilities:
- Total Assets: $5,627
- Total Liabilities: $5,071
- Net Assets: $556
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Organization Details
Founding Year
1985
Principal Officer
Neeli Bendapudi
Website
www.psu.eduNTEE Category
Code: B99 - Education
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