Overview
What is Loan Repayment Assistance Foundation?
Loan Repayment Assistance Foundation, also known as Ardeo Education Foundation, is a nonprofit organization situated in Bloomington, Indiana. Their primary mission is to support and facilitate loan repayment assistance programs for students attending their preferred colleges. This organization receives and manages funds to promote and execute these programs, and they also engage in fundraising efforts for these initiatives. Furthermore, they collaborate with other charitable organizations to carry out similar activities, aiming to alleviate the financial burden of student loans.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating. The Loan Repayment Assistance Foundation has received a solid rating indicating a fair level of accountability and financial management. The score of 79% is derived solely from its Accountability & Finance metrics, reflecting a commitment to transparency and responsible stewardship of funds.
The organization demonstrates strong governance practices, with 66% of its board members being independent, which is a positive sign for oversight. Additionally, the foundation has no reported material diversion of assets, and all of its financial statements are audited, contributing to its trustworthiness. High program expense ratios show that a significant portion of its funds directly supports its mission, which is crucial for donor confidence.
However, while the foundation scores well in financial accountability, the overall rating is somewhat limited as it does not evaluate other beacons such as impact or research. This may suggest that while the foundation is financially sound, further information on its program outcomes would provide a more comprehensive view of its effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Loan Repayment Assistance Foundation legitimate?
Loan Repayment Assistance Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loan Repayment Assistance 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: $10,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Loan Repayment Assistance Foundation?
The Loan Repayment Assistance Foundation's mission is centered around receiving and managing funds to support and provide loan repayment assistance programs for students. The organization also engages in fundraising activities to sustain these programs. Furthermore, it aids other charitable organizations in carrying out similar initiatives. The primary goal of the foundation is to alleviate the burden of student loans, thereby enabling students to pursue their education at their preferred institutions.
Who is the CEO of Loan Repayment Assistance Foundation?
Carroll Stevens is the President, Director of Loan Repayment Assistance Foundation.
What is the revenue of Loan Repayment Assistance Foundation?
Loan Repayment Assistance Foundation's revenue in 2022 was $929,235.
Who are the executives of Loan Repayment Assistance Foundation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $186,613
- Other: $0
- Compensation: $0
- Related: $162,414
- Other: $0
- Compensation: $10,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Loan Repayment Assistance Foundation?
Loan Repayment Assistance Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Loan Repayment Assistance Foundation
The Loan Repayment Assistance Foundation's primary objective is to serve a crucial role in promoting and facilitating loan repayment assistance programs for students. This organization strives to collect and manage funds dedicated to these programs, with an additional focus on raising further funds for these initiatives. Furthermore, the Foundation extends its support to other charitable organizations, aiding them in executing similar activities. In essence, the Loan Repayment Assistance Foundation's mission is to empower students by offering them the opportunity to enroll in loan repayment assistance programs at their preferred institutions of higher learning.
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Impact
October, 2024
The Loan Repayment Assistance Foundation significantly alleviates the financial burden of student debt for individuals pursuing higher education. By administering funds that support loan repayment assistance programs, the organization empowers students to access educational opportunities without the debilitating worry of post-graduation debt. This initiative not only facilitates enrollment in programs of the students' choice but also fosters a more equitable educational landscape.
Through its efforts, the foundation raises essential funds that sustain and expand these loan repayment assistance initiatives, thereby enabling more students to pursue their academic goals. Additionally, by collaborating with other charitable organizations, the foundation amplifies its impact, helping to ensure that more individuals receive the financial support they need to manage their educational expenses effectively.
Overall, the foundation plays a crucial role in promoting educational access and equity, thereby positively influencing the future of countless students in Bloomington, Indiana, and beyond.
This information is meant to be a general summary of Loan Repayment Assistance 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 2022.
- Program Service Revenue: $953,163
- Gross Receipts: $929,235
Assets and Liabilities:
- Total Assets: $81,371
- Total Liabilities: $8,770
- Net Assets: $72,601
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Repayment Assistance
Revenue
$947,480
Organization Details
Founding Year
2008
Phone
(812) 822-0815Principal Officer
Carroll Stevens
Main Address
101 W Kirkwood Ave, Bloomington, IN, 47404
NTEE Category
Code: B82 - Education
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