Overview
What is Red Bank Regional Source Foundation Inc?
Red Bank Regional Source Foundation Inc, located in Little Silver, New Jersey, is a nonprofit organization dedicated to supporting students and families associated with Red Bank Regional High School. Their primary mission involves providing scholarships and youth-oriented assistance to enhance the educational opportunities and well-being of these individuals. The foundation works tirelessly to contribute positively to the local community, demonstrating a strong commitment to its cause.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating
The Red Bank Regional Source Foundation Inc has earned a Three-Star rating, reflecting a solid performance in accountability and finance. The organization's overall score is derived solely from a robust accountability framework, indicating a focus on financial integrity and transparency. With a fiscal year ending in 2023, the foundation has demonstrated commendable practices in governance.
Notable strengths include a high percentage of independent board members, with 91% of its board being independent, promoting unbiased decision-making. The foundation also maintains a low liabilities-to-assets ratio at 1.04%, showcasing its financial stability. Additionally, the program expense ratio is remarkably high at 98.15%, indicating that most of its funds are directly allocated toward its mission rather than administrative costs.
While the organization shows strong financial governance, the rating suggests that maintaining and enhancing transparency continues to be crucial for its operations. Overall, the Red Bank Regional Source Foundation Inc appears to be a reliable nonprofit committed to its mission with sound financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Red Bank Regional Source Foundation Inc legitimate?
Red Bank Regional Source Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Red Bank Regional Source 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.
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What is the mission statement of Red Bank Regional Source Foundation Inc?
The Red Bank Regional Source Foundation Inc is committed to providing assistance for students attending Red Bank Regional High School and their families. This assistance takes the form of scholarships and youth-focused aid. The organization's mission is to support these students in their educational pursuits and help alleviate any related financial burdens for their families. By offering scholarships, the foundation aims to make higher education more accessible for deserving students. Additionally, the provision of youth-based assistance ensures that the overall well-being of the students is supported, enabling them to focus on their studies and personal growth.
Who is the CEO of Red Bank Regional Source Foundation Inc?
Suzanne Keller is the Trustee of Red Bank Regional Source Foundation Inc.
What is the revenue of Red Bank Regional Source Foundation Inc?
Red Bank Regional Source Foundation Inc's revenue in 2023 was $190,850.
Who are the executives of Red Bank Regional Source Foundation Inc and what are their salaries?
There 26 volunteers at Red Bank Regional Source Foundation Inc.
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Where can I find the form 990 for Red Bank Regional Source Foundation Inc?
Red Bank Regional Source Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Red Bank Regional Source Foundation Inc
Red Bank Regional Source Foundation Inc, as its mission statement suggests, is committed to providing scholarships and youth-based assistance to students attending Red Bank Regional High School and their families. This nonprofit organization's primary goal is to support these students in their academic pursuits and help alleviate any financial burdens their families may face. By offering scholarships, the foundation enables deserving students to further their education, thereby opening up opportunities for personal growth and potential career advancement.
Furthermore, Red Bank Regional Source Foundation Inc extends its assistance beyond just financial aid. The organization recognizes that the well-being of students is closely tied to their families' circumstances. Therefore, they also provide youth-based assistance to the families of Red Bank Regional High School students. This support can take various forms, such as mentoring, counseling, or practical aid, all aimed at improving the overall quality of life for these families. In this way, Red Bank Regional Source Foundation Inc is not just a provider of scholarships but a comprehensive supporter of the students and their families in its community.
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Impact
October, 2024
Red Bank Regional Source Foundation Inc significantly impacts the community by providing essential support to students and families connected to Red Bank Regional High School. Through its scholarship programs, the foundation helps alleviate the financial burden of education, enabling students to pursue their academic goals. This financial assistance fosters greater access to higher education, contributing to the overall development of the youth in the area.
In addition to scholarships, the foundation offers youth-based assistance, creating a supportive environment that nurtures personal and academic growth. By prioritizing the needs of students and their families, the foundation plays a crucial role in enhancing educational outcomes and empowering the next generation. Its commitment to education not only benefits individual students but also strengthens the broader community by investing in its future leaders.
This information is meant to be a general summary of Red Bank Regional Source 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 2023.
- Gross Receipts: $190,850
Assets and Liabilities:
- Total Assets: $229,460
- Total Liabilities: $2,400
- Net Assets: $227,060
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Organization Details
Founding Year
2002
Phone
(732) 842-8000Principal Officer
Suzanne Keller
Main Address
101 RIDGE ROAD, LITTLE SILVER, NJ, 07739
NTEE Category
Code: B80 - Education
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