Overview
What is Chi Omega Foundation?
The Chi Omega Foundation is a nonprofit organization situated in Memphis, Tennessee. Its primary mission is to foster educational and leadership growth by granting scholarships and providing learning opportunities to deserving individuals. The foundation awards scholarships based on factors such as academic merit, leadership within the organization, financial need, and field of study. In addition, it offers emergency aid grants to qualified members undergoing financial, medical, or disaster-related hardships. With a dedicated team of 16 employees, the Chi Omega Foundation is committed to supporting and empowering its members in their educational pursuits.
Official website here: www.chiomega.com/about-foundation
What are the reviews and ratings of this charity?
**Chi Omega Foundation Rating: 97% (Four-Star out of Four Star Rating)**
The Chi Omega Foundation has achieved an impressive four-star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a score of 97% in this category, the foundation demonstrates a commitment to transparency and ethical practices, particularly evident through its independent board and robust financial oversight processes. The organization has no material diversions of assets, and its fundraising efficiency is notable, with only a minimal cost incurred to raise funds.
Strengths identified in the financial assessment include a solid program expense ratio of over 71%, indicating that a significant portion of its funds is invested directly into its mission-related activities. Furthermore, the foundation maintains a healthy working capital ratio, showcasing effective financial management. The leadership team operates with a commitment to ethical standards, as highlighted by its comprehensive policies regarding conflicts of interest and document retention.
Unfortunately, user reviews were not available from GreatNonprofits, which limits the insight from the community regarding experiences with the foundation. Without this feedback, a complete picture of public perception is not possible, although the financial and governance metrics suggest a well-managed organization focused on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Chi Omega Foundation legitimate?
Chi Omega Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chi Omega 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: $217,578
Professional Fundraising Fees: $74,094
Other Salaries and Wages: $626,632
For more financial information, click here
Official website here: www.chiomega.com/about-foundation
What is the mission statement of Chi Omega Foundation?
The Chi Omega Foundation's mission is centered around promoting educational and leadership development. They achieve this by providing scholarships, grants, and various learning opportunities. The foundation awards annual scholarships to qualified individuals pursuing undergraduate and graduate studies, considering factors such as academic merit, leadership within the organization, financial need, and field of study. Furthermore, the foundation offers emergency aid grants to members experiencing unexpected financial, medical, or disaster-related hardships.
Official website here: www.chiomega.com/about-foundation
Who is the CEO of Chi Omega Foundation?
Sally Kimball is the President of Chi Omega Foundation.
Official website here: www.chiomega.com/about-foundation
What is the revenue of Chi Omega Foundation?
Chi Omega Foundation's revenue in 2023 was $8,203,863.
Official website here: www.chiomega.com/about-foundation
Who are the executives of Chi Omega Foundation and what are their salaries?
The average compensation at Chi Omega Foundation during 2023 was $52,763. There are 16 employees and 80 volunteers at Chi Omega Foundation.
Here are 18 key members and their salaries:
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Official website here: www.chiomega.com/about-foundation
Where can I find the form 990 for Chi Omega Foundation?
Chi Omega Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.chiomega.com/about-foundation
Learn more at the official website: www.chiomega.com/about-foundation
Mission Statement of Chi Omega Foundation
The Chi Omega Foundation, a nonprofit organization, is dedicated to fostering educational and leadership development. It achieves this mission by providing scholarships, grants, and learning opportunities. The foundation's support extends to qualified individuals for undergraduate and graduate educational pursuits. The scholarship awards are influenced by various factors, including academic merit, leadership within the organization, financial need, and the field of study.
In addition to scholarships, the Chi Omega Foundation offers emergency aid grants to eligible members who are going through unexpected financial, medical, or disaster-related hardships. This proactive approach ensures that members in need can continue their educational journeys without undue pressure from financial or other challenges. By supporting educational and leadership development in this manner, the Chi Omega Foundation empowers its members to reach their full potential and make meaningful contributions to society.
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Impact
October, 2024
The Chi Omega Foundation significantly impacts the educational landscape and leadership development of its members through comprehensive financial support initiatives. By awarding annual scholarships to both undergraduate and graduate students, the foundation recognizes academic merit, leadership qualities, financial need, and specific fields of study. This targeted assistance helps members overcome financial barriers, allowing them to pursue their educational aspirations more freely.
In addition to scholarships, the foundation provides emergency aid grants for members facing unexpected challenges such as financial hardships, medical emergencies, or natural disasters. This compassionate support ensures that members can navigate difficult circumstances without compromising their educational goals. Ultimately, the Chi Omega Foundation plays a crucial role in fostering personal and professional growth, empowering its members to achieve their full potential.
This information is meant to be a general summary of Chi Omega 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 2023.
- Investment Income: $1,277,406
- Program Service Revenue: $137,825
- Gross Receipts: $10,816,035
Assets and Liabilities:
- Total Assets: $46,573,819
- Total Liabilities: $812,943
- Net Assets: $45,760,876
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - (CHI OMEGA FRATER
Revenue
$88,511
SERVICE FEE INCOME
Revenue
$49,314
Organization Details
Founding Year
1977
Phone
(901) 748-8600Principal Officer
Sally Kimball
Main Address
3395 PLAYERS CLUB PARKWAY, MEMPHIS, TN, 38125
NTEE Category
Code: Y11 - Mutual benefit
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