Overview
What is Foundry Educational Foundation?
The Foundry Educational Foundation Dba FEF is a nonprofit organization situated in Schaumburg, Illinois. Its primary mission is to bolster the metalcasting industry by fostering collaborative relationships between students, educators, and industry entities. By sponsoring various initiatives, such as networking events, job fairs, scholarships, and academic programs, FEF aims to nurture the future leaders and technicians in the field. Through these efforts, the organization bridges the gap between academic institutions and industry, ensuring that the metalcasting sector remains innovative and competitive. With a workforce of just four individuals, FEF's impact is significant in shaping the next generation of professionals in the metalcasting industry.
Official website here: www.fefinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Foundry Educational Foundation has achieved an impressive 96% rating, reflecting a strong commitment to accountability and financial management. This rating is derived solely from its performance in the Accountability & Finance category, demonstrating the organization's focus on transparency and effective resource management.
The foundation excels in several key areas, including having a fully independent board, comprehensive audit oversight, and robust conflict of interest policies. Its financial statements indicate a low liabilities-to-assets ratio, suggesting sound fiscal health. Additionally, the organization allocates a significant majority of its expenses (over 81%) directly to its programs, underscoring its dedication to fulfilling its mission.
While the data highlights the foundation's strengths, it is essential to maintain awareness of potential areas for improvement. Continuous efforts to engage with stakeholders and enhance program impact could further strengthen the organization's position in the nonprofit sector. Overall, the Foundry Educational Foundation appears to be a responsible and effective charity.
This AI summary has been generated from information found on Charity Navigator.
Is Foundry Educational Foundation legitimate?
Foundry Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundry Educational 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: $162,193
Professional Fundraising Fees: $0
Other Salaries and Wages: $230,211
For more financial information, click here
Official website here: www.fefinc.org
What is the mission statement of Foundry Educational Foundation?
The Foundry Educational Foundation, operating under the name FEF, strengthens the metal casting industry by fostering unique partnerships among students, educators, and industry. This initiative aims to nurture today's students, equipping them with the necessary skills to become the industry leaders of tomorrow. The foundation achieves this by sponsoring various programs, collaborating with key professors at member universities, and metalcasting companies. These collaborations include networking events, job fairs, scholarship awards, funding of programs, and advocating for the interests of young engineers and technologists, thereby preparing them for successful technical careers in the metal casting industry.
Official website here: www.fefinc.org
Who is the CEO of Foundry Educational Foundation?
Steve Sikorski is the President of Foundry Educational Foundation.
Official website here: www.fefinc.org
What is the revenue of Foundry Educational Foundation?
Foundry Educational Foundation's revenue in 2023 was $1,442,547.
Official website here: www.fefinc.org
Who are the executives of Foundry Educational Foundation and what are their salaries?
The average compensation at Foundry Educational Foundation during 2023 was $98,101. There are 4 employees and 46 volunteers at Foundry Educational Foundation.
Here are 55 key members and their salaries:
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Official website here: www.fefinc.org
Where can I find the form 990 for Foundry Educational Foundation?
Foundry Educational Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fefinc.org
Learn more at the official website: www.fefinc.org
Mission Statement of Foundry Educational Foundation
The Foundry Educational Foundation, often referred to as FEF, plays a significant role in bolstering the metal casting industry. By establishing unique collaborations among students, educators, and industry stakeholders, FEF aids in the development of today's students into tomorrow's leaders in this sector. The organization's mission is multifaceted, encompassing support for post-secondary education programs in metal casting, from technical supervision to specialized research, spanning a wide range of higher education institutions.
Since its inception in 1947, FEF has been instrumental in advancing the metalcasting industry through its educational initiatives. By partnering with key professors and metalcasting companies, the foundation sponsors networking events, promotes job fairs, awards scholarships, funds programs, and advocates for the interests of young engineers and technologists. FEF's primary objective is to prepare these future professionals for successful careers in the metalcasting industry. By fostering these collaborative partnerships, FEF is instrumental in bridging the gap between education and industry, ultimately strengthening the metal casting industry as a whole.
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Impact
October, 2024
Foundry Educational Foundation enhances the metal casting industry by fostering collaborative partnerships among students, educators, and industry professionals. Through initiatives that connect academic institutions with metalcasting companies, FEF plays a crucial role in developing the next generation of leaders and technical experts in the field.
Since its inception in 1947, FEF has been instrumental in advancing education at the post-secondary level across various institutions, including four-year technical schools, traditional engineering colleges, and graduate programs. The foundation's programs cover a wide spectrum of higher education, addressing skills needed in production supervision, specialized research, and other technical areas.
By organizing networking events, job fairs, and scholarship awards, FEF creates opportunities for students to engage with industry leaders and gain practical insights. Collaborating with key professors from member universities, the foundation supports curricula that meet the evolving needs of the metal casting industry. This comprehensive approach not only prepares students for successful careers but also strengthens the industry's future by ensuring a pipeline of talented professionals equipped to tackle emerging challenges.
This information is meant to be a general summary of Foundry Educational 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: $205,103
- Program Service Revenue: $203,222
- Gross Receipts: $7,182,426
Assets and Liabilities:
- Total Assets: $11,624,609
- Total Liabilities: $45,265
- Net Assets: $11,579,344
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COLLEGE INDUSTRY CONF.
Revenue
$203,222
Organization Details
Founding Year
1947
Phone
(847) 490-9200Principal Officer
Steve Sikorski
Main Address
1695 N PENNY LANE, SCHAUMBURG, IL, 60173
Website
www.fefinc.orgNTEE Category
Code: B30 - Education
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