Overview
What is Kea Educational Foundation Inc?
Kea Educational Foundation Inc, located in Kodiak, Alaska, is a nonprofit organization dedicated to charitable, educational, and scientific pursuits. Established with a mission to support students and contribute to educational causes, the foundation generated revenue in 2022 from various sources. The majority came from donations by Kodiak Electric Association members, who chose to round up their monthly bills or donate their capital credits. CoBank, through its Sharing Success program, also contributed a matching amount. However, an investment loss slightly lowered the overall income. In 2022, the foundation awarded 22 scholarships and granted funds to other educational institutions and charitable entities, totaling a significant amount. The KEA Educational Foundation continues its mission to support local students and promote educational growth in the community.
Official website here: www.kodiakelectric.com/ed-foundation/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
Kea Educational Foundation Inc has received an overall score of 83%, indicating a solid performance in accountability and finance. The foundation boasts a fully independent board, which is a positive indicator of governance, as all five members are independent. Additionally, there is no record of material diversion of assets, and a high program expense ratio of over 84% suggests that the majority of funds are directed towards its educational initiatives.
However, there are notable limitations in the organization's transparency practices. The foundation lacks a whistleblower policy and a document retention and destruction policy, both of which are important for ethical governance. Furthermore, while the tax form is mentioned, it is not available on the nonprofit’s website, which may hinder transparency for potential donors and stakeholders. These gaps are critical to consider when evaluating the organization's overall effectiveness and commitment to best practices.
This AI summary has been generated from information found on Charity Navigator.
Is Kea Educational Foundation Inc legitimate?
Kea Educational Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kea Educational 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.kodiakelectric.com/ed-foundation/
What is the mission statement of Kea Educational Foundation Inc?
The Kea Educational Foundation's mission is centered around charitable, educational, and scientific purposes. Specifically, the foundation seeks to provide scholarships for students and make grants and donations for educational purposes to eligible charitable entities. In 2022, the foundation generated funds through donations from Kodiak Electric Association members, a CoBank matching program, and an investment loss. The funds were primarily utilized to award scholarships to 22 students, totalling $65,582.
Official website here: www.kodiakelectric.com/ed-foundation/
Who is the CEO of Kea Educational Foundation Inc?
Dan Menth is the Principal Officer of Kea Educational Foundation Inc.
Official website here: www.kodiakelectric.com/ed-foundation/
What is the revenue of Kea Educational Foundation Inc?
Kea Educational Foundation Inc's revenue in 2022 was $37,798.
Official website here: www.kodiakelectric.com/ed-foundation/
Who are the executives of Kea Educational Foundation Inc and what are their salaries?
There 7 volunteers at Kea Educational Foundation Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $198,619
- Other: $83,876
- Compensation: $0
- Related: $12,480
- Other: $0
- Compensation: $0
- Related: $11,000
- Other: $0
- Compensation: $0
- Related: $7,840
- Other: $0
- Compensation: $0
- Related: $4,200
- Other: $0
Official website here: www.kodiakelectric.com/ed-foundation/
Where can I find the form 990 for Kea Educational Foundation Inc?
Kea Educational Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kodiakelectric.com/ed-foundation/
Learn more at the official website: www.kodiakelectric.com/ed-foundation/
Mission Statement of Kea Educational Foundation Inc
The KEA Educational Foundation, a charitable organization, is dedicated to serving educational purposes. Its specific mission is twofold: providing scholarships for students and making grants and donations to other charitable entities for educational purposes. Through these initiatives, the foundation aims to support the academic pursuits of individuals and contribute to the broader educational sector. The foundation generates its funds through various sources, including contributions from members of Kodiak Electric Association who opt to round up their monthly bills or donate their capital credits. Additionally, the CoBank Sharing Success program contributes by matching up to $10,000 to 501(c)3 organizations, with the KEA Educational Foundation receiving a significant portion of this support. In 2022, the foundation awarded a total of 22 scholarships worth $65,582, furthering its commitment to educational support.
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Impact
August, 2024
Kea Educational Foundation Inc had a significant impact in 2022 through its efforts to provide scholarships and support educational initiatives. With a total revenue of $37,799, the foundation awarded 22 scholarships amounting to $65,582. This support directly contributed to furthering the education of students in Kodiak, AK, and making a positive difference in their lives. The foundation's commitment to educational advancement highlights its dedication to empowering individuals and strengthening the community through its charitable contributions and grants.
This information is meant to be a general summary of Kea Educational 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: -$1,162
- Gross Receipts: $37,798
Assets and Liabilities:
- Total Assets: $775,398
- Total Liabilities: $0
- Net Assets: $775,398
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Organization Details
Founding Year
2009
Phone
(907) 486-7700Principal Officer
Dan Menth
Main Address
1614 Mill Bay Road, Kodiak, AK, 99615
NTEE Category
Code: B82 - Education
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