Overview
What is Yucatan Rainbow Scholarship Foundation?
The Yucatan Rainbow Scholarship Foundation, situated in San Diego, California, is a nonprofit organization dedicated to providing financial assistance to students hailing from Yucatan. Through scholarships and grants, this organization aims to support the educational pursuits of these students, thereby empowering them to succeed academically and personally. The foundation's mission remains steadfast in its commitment to this cause, serving as a beacon of hope for students from Yucatan.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating indicates that while the Yucatan Rainbow Scholarship Foundation demonstrates some strengths in governance and financial management, there are significant areas for improvement.
The organization boasts a strong independent board structure, scoring full points in both board member independence and size, as well as a commendable program expense ratio of nearly 89%. This reflects a commitment to directing a substantial portion of its resources towards its programs. Additionally, it has been recognized for maintaining a favorable liabilities to assets ratio, indicating solid financial health.
However, the foundation faces critical shortcomings in transparency and governance practices, evidenced by missing policies and documents such as a conflict of interest policy, whistleblower policy, and the absence of its tax form on its website. These gaps have impacted its overall rating, highlighting the need for enhanced accountability measures to improve trust and reliability among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Yucatan Rainbow Scholarship Foundation legitimate?
Yucatan Rainbow Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Yucatan Rainbow Scholarship Foundation 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
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What is the mission statement of Yucatan Rainbow Scholarship Foundation?
The Yucatan Rainbow Scholarship Foundation's mission is centered around providing financial aid in the form of scholarships and grants to students hailing from Yucatan. This organization is committed to supporting the educational pursuits of these students, thereby contributing to their overall development and future prospects. The foundation's activities primarily focus on this mission, aiming to make higher education more accessible and affordable for deserving students. While the exact scope and criteria for awarding these scholarships and grants may vary, the foundation's primary objective remains clear: to empower students from Yucatan through financial assistance.
What is the revenue of Yucatan Rainbow Scholarship Foundation?
Yucatan Rainbow Scholarship Foundation's revenue in 2024 was $65,500.
Who are the executives of Yucatan Rainbow Scholarship Foundation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Yucatan Rainbow Scholarship Foundation?
Yucatan Rainbow Scholarship Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Yucatan Rainbow Scholarship Foundation
The Yucatan Rainbow Scholarship Foundation is committed to a noble mission. This nonprofit organization focuses on providing scholarships and grants to students hailing from Yucatan. By offering financial aid, the foundation aims to support the educational journeys of these students, enabling them to pursue their academic aspirations and potentially contribute to their communities and beyond. Through its scholarship and grant programs, the Yucatan Rainbow Scholarship Foundation is playing a significant role in empowering the next generation of leaders and thinkers in Yucatan.
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Impact
August, 2024
The Yucatan Rainbow Scholarship Foundation's impact is best demonstrated through its direct provision of scholarships and grants to students in Yucatan. By offering financial assistance to individuals pursuing their education, the foundation is helping to remove barriers to learning and enabling students to achieve their academic goals. This support ultimately empowers these individuals to access higher education, improve their skills, and build a better future for themselves and their communities.
This information is meant to be a general summary of Yucatan Rainbow Scholarship Foundation. 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: $65,500
Assets and Liabilities:
- Total Assets: $112,033
- Total Liabilities: $0
- Net Assets: $112,033
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Organization Details
Founding Year
2008
Principal Officer
Yong Hoon Kang
NTEE Category
Code: B82 - Education
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