Overview
What is Altura Credit Union Foundation?
Altura Credit Union Foundation is a charitable organization based in Riverside, California, with a strong commitment to supporting high school seniors in pursuing their higher education goals. They offer annual scholarships to deserving students planning to enter their first year of college, not only locally in Riverside County but also across the United States. The foundation's vision is to empower the aspirations of its members, recognizing that higher education is a significant journey. Beyond general scholarships, Altura Credit Union Foundation also provides memorial scholarships in honor of four esteemed community members. Furthermore, the organization's CEO personally funds the Future Leader Scholarship, which recognizes a high school senior exemplifying leadership qualities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Altura Credit Union Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With an overall score of 94%, the foundation demonstrates a commitment to transparency and effective financial management. The rating is based entirely on a single beacon score focusing on accountability and finance, underscoring the organization's dedication to responsible stewardship of its resources.
The foundation excels in several key areas, including having a fully independent board with all ten members free from conflicts of interest, which is crucial for maintaining integrity in governance. The organization has also demonstrated excellent financial health, with a liabilities to assets ratio of 0.00% and an impressive program expense ratio of 93.52%. This indicates that the vast majority of its funding is directed toward its programs rather than administrative costs.
While the foundation's high scores reflect strong governance practices and financial stability, it's important for potential donors to consider long-term sustainability and the impact of its programs in the community. Overall, the Altura Credit Union Foundation stands out as a well-managed nonprofit, providing confidence to donors regarding their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Altura Credit Union Foundation legitimate?
Altura Credit Union Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Altura Credit Union 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
For more financial information, click here
What is the mission statement of Altura Credit Union Foundation?
The Altura Credit Union Foundation's mission is centered around assisting high school seniors in achieving their higher education goals. This is accomplished by awarding annual scholarships to students looking to begin their college journey, both locally and nationwide. The foundation is committed to empowering the dreams of its members. Beyond general scholarships, the foundation also offers memorial scholarships established in honor of four significant community members. Additionally, the foundation's CEO personally funds the Future Leader Scholarship, designed for a high school senior exhibiting leadership characteristics.
Who is the CEO of Altura Credit Union Foundation?
Kathy Thayer is the Director of Altura Credit Union Foundation. The CEO's salary of Altura Credit Union Foundation is $0 and their total compensation is $943,144.
What is the revenue of Altura Credit Union Foundation?
Altura Credit Union Foundation's revenue in 2022 was $179,373.
Who are the executives of Altura Credit Union Foundation and what are their salaries?
There 6 volunteers at Altura Credit Union Foundation.
Here are 6 key members and their salaries (Altura Credit Union Foundation's CEO's salary is $0 and their total compensation is $943,144):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $916,623
- Other: $26,521
Where can I find the form 990 for Altura Credit Union Foundation?
Altura Credit Union Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Altura Credit Union Foundation
Altura Credit Union Foundation is dedicated to assisting high school seniors in achieving their higher education goals. This nonprofit organization understands the significance of embarking on the journey towards higher education and is committed to empowering the aspirations of its members. To accomplish this, Altura Foundation awards annual scholarships to high school seniors who are planning to commence their first year of college, not only within Riverside County but also across the United States.
Beyond general scholarships, the foundation also offers memorial scholarships, which are established in honor of four esteemed community members. Furthermore, the CEO of Altura Credit Union personally funds the Future Leader Scholarship, a recognition program for a high school senior who embodies leadership qualities. Altura Credit Union Foundation's mission is to help students overcome financial barriers and make their academic dreams a reality. By providing this support, the foundation plays a crucial role in shaping the future leaders of tomorrow.
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Impact
October, 2024
Altura Credit Union Foundation significantly impacts the community by empowering high school seniors to pursue their higher education goals. The Foundation awards annual scholarships to students in Riverside County and across the United States, providing critical financial support as they embark on their college journeys. With a commitment to fostering educational aspirations, the Foundation not only offers general scholarships but also provides memorial scholarships in honor of four notable community members.
One unique initiative is the Future Leader Scholarship, personally funded by the Foundation's CEO, which recognizes and supports a senior who exemplifies strong leadership qualities. Through these efforts, the Altura Foundation actively contributes to the educational advancement of students, helping them to achieve their dreams and build a brighter future.
This information is meant to be a general summary of Altura Credit Union 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.
- Investment Income: -$40,347
- Gross Receipts: $3,290,867
Assets and Liabilities:
- Total Assets: $5,265,009
- Total Liabilities: $0
- Net Assets: $5,265,009
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Organization Details
Founding Year
1994
Phone
(888) 883-8228Principal Officer
Kathy Thayer
Main Address
2847 CAMPUS PARKWAY, RIVERSIDE, CA, 92507
NTEE Category
Code: B90 - Education
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