Overview
What is Rockford Promise?
Rockford Promise is a nonprofit organization situated in Rockford, Illinois. Its primary mission is to provide full-tuition scholarships to selected graduates from Rockford Public Schools, fostering access to higher education. As of now, 18 students attend Rockford University, 26 attend Rock Valley College, and 71 students are enrolled at Northern Illinois University, all benefiting from these scholarships. Moreover, 158 additional students have been chosen for full-tuition scholarships starting in the fall of 2022. Beyond scholarships, Rockford Promise aims to enhance student success and completion of their degrees or programs, contributing to the economic vitality of the Rockford region. The organization currently employs a team of 3 individuals.
Official website here: www.rockfordpromise.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
Rockford Promise has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. With a total score of 95%, the organization excels in several areas, including governance and transparency, where it received perfect scores for having a majority of independent board members and a robust conflict of interest policy.
The nonprofit's financial management is commendable, as evidenced by a program expense ratio of 77.91%, indicating that a significant portion of its resources is dedicated to its mission-related programs. Additionally, the organization demonstrates effective fundraising practices, achieving a fundraising efficiency ratio of just $0.03 per dollar raised, which speaks to its operational efficiency and low overhead costs.
No notable limitations were found in the data, further solidifying Rockford Promise's reputation as a well-managed organization. Overall, its strong financial health and governance practices position it as a trustworthy nonprofit dedicated to its cause.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Rockford Promise?
100% of reviewers on Facebook recommend Rockford Promise. Here is a summary of their reviews:
The nonprofit has received glowing praise for its inspiring mission and community impact. Reviewers appreciate the organization's dedication to supporting Rockford, IL students through scholarship programs, stating that it continues a legacy of improving the lives of local individuals and families.
Personal stories highlight the passion and commitment of the founder, reflecting a deep sense of pride in the work being done. Overall, Rockford Promise is seen as a vital resource in the community, successfully fulfilling its aspirations to enrich students' educational opportunities.
This AI summary has been generated from reviews found on Facebook.
Is Rockford Promise legitimate?
Rockford Promise is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rockford Promise 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: $99,067
Professional Fundraising Fees: $0
Other Salaries and Wages: $320,549
For more financial information, click here
Official website here: www.rockfordpromise.org
What is the mission statement of Rockford Promise?
Rockford Promise's mission statement is centered around enhancing economic vitality by providing access to post-secondary education for all Rockford Public School graduates. They achieve this by offering full-tuition scholarships and support to enhance student success, aiming for degree or program completion. The organization's vision is to provide this opportunity, which can significantly impact the overall success of its recipients. As of the provided information, Rockford Promise has already granted full-tuition scholarships to numerous students attending Rockford University, Rock Valley College, and Northern Illinois University, with plans to extend this support to more students starting in the fall of 2022.
Official website here: www.rockfordpromise.org
What is the revenue of Rockford Promise?
Rockford Promise's revenue in 2024 was $2,736,183.
Official website here: www.rockfordpromise.org
Who are the executives of Rockford Promise and what are their salaries?
The average compensation at Rockford Promise during 2024 was $34,968. There are 12 employees and 50 volunteers at Rockford Promise.
Here are 20 key members and their salaries:
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- Compensation: $94,504
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- Other: $5,525
Official website here: www.rockfordpromise.org
Where can I find the form 990 for Rockford Promise?
Rockford Promise's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.rockfordpromise.org
Learn more at the official website: www.rockfordpromise.org
Mission Statement of Rockford Promise
Rockford Promise, a nonprofit organization, is committed to enhancing economic vitality in its community by providing access to post-secondary education for all Rockford Public School graduates. Their mission is twofold: they aim to provide full-tuition scholarships and offer support to enhance student success, leading to degree or program completion. This initiative is designed to ensure that every eligible Rockford Public School graduate has the opportunity to pursue higher education without the burden of substantial tuition fees.
Rockford Promise has been actively implementing this mission by granting full-tuition scholarships to selected Rockford Public School graduates. As of now, 18 students are attending Rockford University, 26 are at Rock Valley College, and 71 are enrolled at Northern Illinois University, all benefiting from these scholarships. The organization has also selected 158 additional students for full-tuition scholarships, set to begin in the fall of 2022. These fortunate students will be attending Rockford University (3), Rock Valley College (21), and Northern Illinois University (134).
In essence, Rockford Promise's mission is to empower young individuals in their pursuit of higher education, thereby contributing to their personal growth and the overall economic advancement of the community. By providing full-tuition scholarships and necessary support, the organization is breaking financial barriers and encouraging academic success, ultimately fostering a more prosperous future for its graduates.
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Impact
October, 2024
Rockford Promise has a significant impact on the educational and economic landscape of the Rockford region by providing full-tuition scholarships to graduates of Rockford Public Schools. This initiative directly addresses financial barriers, allowing students to pursue higher education without the burden of tuition costs.
Currently, 18 students are attending Rockford University, 26 are enrolled at Rock Valley College, and 71 are pursuing their degrees at Northern Illinois University, all funded through these scholarships. Additionally, 158 new students have been awarded scholarships starting in the fall of 2022, with varied enrollments across the three institutions.
By enhancing access to post-secondary education, Rockford Promise contributes to the economic vitality of the community. The program not only empowers individual students to succeed but also fosters a more educated workforce, ultimately benefiting the local economy and promoting long-term growth within the region.
This information is meant to be a general summary of Rockford Promise. 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.
- Investment Income: $152,415
- Gross Receipts: $2,764,346
Assets and Liabilities:
- Total Assets: $2,107,240
- Total Liabilities: $7,266
- Net Assets: $2,099,974
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Organization Details
Founding Year
2007
Principal Officer
Maurice Redd
Website
www.rockfordpromise.orgNTEE Category
Code: B82 - Education
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