Overview
What is Educate Lanka Foundation Inc?
Educate Lanka Foundation Inc is a nonprofit organization situated in Gaithersburg, Maryland. Their primary mission is to provide micro-scholarships to high-potential children and youth from economically disadvantaged backgrounds in Sri Lanka, aiming to democratize opportunities and unleash their untapped talent. The foundation believes that while talent is universal, opportunities are not, and strives to create an equitable learning and employment pathway for these marginalized students. They accomplish this by offering long-term scholarship funding and supplementary learning opportunities, empowering them with project-based skills and professional development programs.
Official website here: www.educatelanka.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star Rating)
Educate Lanka Foundation Inc has received an 83% rating from Charity Navigator, indicating a solid level of accountability and financial health. This three-star rating reflects the organization's commitment to maintaining a transparent and effective operational framework, with all assessment points deriving from its accountability and finance metrics. The foundation demonstrates a strong independent board composition and shows no signs of material diversion of assets.
The organization excels in several key areas, such as maintaining a high program expense ratio of 79.81%, which suggests that a significant portion of its resources is allocated towards its educational initiatives. Additionally, it has a favorable liabilities to assets ratio of 0.54%, indicating strong financial stability. However, the absence of a whistleblower policy and a document retention policy may raise concerns regarding internal governance practices that could be improved.
Overall, while Educate Lanka Foundation Inc showcases strong financial management and accountability, addressing the missing policies could enhance its governance framework and further bolster donor confidence. The foundation's effective use of funds towards educational efforts reflects its mission-driven approach to supporting communities.
This AI summary has been generated from information found on Charity Navigator.
Is Educate Lanka Foundation Inc legitimate?
Educate Lanka Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Educate Lanka 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: $100,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $30,368
For more financial information, click here
Official website here: www.educatelanka.org
What is the mission statement of Educate Lanka Foundation Inc?
Educate Lanka Foundation Inc is committed to creating a world where opportunities are universal, acknowledging that while talent is widespread, access to opportunities is not. Their mission is to democratize opportunities and uncover the talent and potential of every student, particularly those from socioeconomically marginalized backgrounds. They strive to achieve this by establishing a pathway of opportunities that enhances the access of these individuals to quality and equitable education, learning, and employment. This is accomplished through their long-term micro-scholarship funding for the marginalized, as well as complementary learning opportunities and exposure through project-based skills and professional development programs.
Official website here: www.educatelanka.org
Who is the CEO of Educate Lanka Foundation Inc?
Manjula Dissanayake is the Executive Director of Educate Lanka Foundation Inc.
Official website here: www.educatelanka.org
What is the revenue of Educate Lanka Foundation Inc?
Educate Lanka Foundation Inc's revenue in 2022 was $133,635.
Official website here: www.educatelanka.org
Who are the executives of Educate Lanka Foundation Inc and what are their salaries?
There 40 volunteers at Educate Lanka Foundation Inc.
Here are 4 key members and their salaries:
- Compensation: $95,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.educatelanka.org
Where can I find the form 990 for Educate Lanka Foundation Inc?
Educate Lanka Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.educatelanka.org
Learn more at the official website: www.educatelanka.org
Mission Statement of Educate Lanka Foundation Inc
Educate Lanka Foundation Inc, with a strong conviction that talent is universally distributed yet opportunities are not, aims to establish a world where opportunities are equally accessible to all. The organization strives towards its vision of democratizing opportunities, thereby unveiling the hidden talent and potential within every student. It achieves this objective by creating a comprehensive pathway of opportunities that empowers the socioeconomically disadvantaged with improved access to high-quality and equitable education, learning, and employment opportunities.
To actualize these goals, Educate Lanka Foundation Inc implements long-term micro-scholarship funding for the socioeconomically marginalized. This financial support serves as a crucial foundation, enabling these students to pursue quality education. Furthermore, the organization offers complementary learning opportunities and exposure through project-based skills development programs and professional development courses. These programs not only enhance the students' academic prowess but also equip them with practical skills that are essential for success in the professional world.
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Impact
October, 2024
Educate Lanka Foundation Inc significantly impacts the lives of children and youth from socioeconomically marginalized backgrounds in Sri Lanka by providing micro-scholarship funding and enhancing access to education and employment opportunities. By focusing on the belief that talent is universal while opportunity is not, the organization works to democratize access to quality education, ensuring that every student can unlock their potential.
Through its Educate Lanka Scholars program, the foundation awards scholarships that enable students to pursue their educational goals, thus helping to close the opportunity gap. In addition to financial support, Educate Lanka offers complementary learning experiences, including project-based skills development and professional growth programs. This holistic approach not only enhances academic outcomes but also equips young individuals with the necessary skills to succeed in the workforce, ultimately empowering them to break the cycle of poverty and improve their socio-economic status.
By championing access to equitable learning and fostering a pipeline of opportunities, Educate Lanka is paving the way for a brighter future for Sri Lankan youth, ensuring that their talents can be fully realized and utilized in society.
This information is meant to be a general summary of Educate Lanka 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: $1,936
- Program Service Revenue: $87,427
- Gross Receipts: $133,635
Assets and Liabilities:
- Total Assets: $441,063
- Total Liabilities: $2,404
- Net Assets: $438,659
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Student Scholarships
Revenue
$56,439
Earned Revenue from Program Partners
Revenue
$30,988
Organization Details
Founding Year
2007
Phone
(240) 460-8491Principal Officer
Manjula Dissanayake
Main Address
104 Billingsgate Lane, Gaithersburg, MD, 20877
Website
www.educatelanka.orgNTEE Category
Code: B82 - Education
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