Overview
What is The Canton Student Loan Foundation?
The Canton Student Loan Foundation is a nonprofit organization situated in Canton, Ohio. Its primary mission is to aid graduates of Stark County high schools by providing them with low-interest loans. This financial assistance enables eligible applicants to pursue post-secondary education and vocational training, thereby empowering them to achieve higher education. The foundation has extended its support to a substantial number of students, with the undergraduate program disbursing $1,568,000 to 296 students and the graduate program providing $71,000 to 17 students. The organization's modest workforce consists of three dedicated individuals, who continue to uphold this commendable cause.
Official website here: www.cantonstudentloan.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star Rating)
The Canton Student Loan Foundation achieves an impressive score of 96%, reflecting its commitment to high standards in accountability and finance. This rating is based entirely on an Accountability & Finance beacon score, highlighting the organization's strong financial management practices and transparency. The foundation's fiscal health is underscored by its low liabilities to assets ratio of 0.21%, indicating robust financial stability.
Strengths of the foundation include having a fully independent board, comprising 22 members, which ensures that governance is objective and free from conflicts of interest. Additionally, the organization scores full points in various governance measures, such as having comprehensive policies for conflict of interest, whistleblower protections, and documented board meeting minutes. Furthermore, its program expense ratio of 74.20% demonstrates a strong commitment to using funds effectively towards its mission.
While the foundation showcases excellent financial practices and governance, there are no specific limitations mentioned in the data. Overall, The Canton Student Loan Foundation stands out as a well-managed nonprofit dedicated to its purpose while maintaining accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Canton Student Loan Foundation legitimate?
The Canton Student Loan Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Canton Student Loan 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: $71,552
Professional Fundraising Fees: $0
Other Salaries and Wages: $50,769
For more financial information, click here
Official website here: www.cantonstudentloan.org
What is the mission statement of The Canton Student Loan Foundation?
The Canton Student Loan Foundation's mission is centered around assisting graduates from Stark County high schools in pursuing higher education. They achieve this by granting low-interest loans to eligible applicants. This financial aid allows students to complete post-secondary education and training, thereby broadening their opportunities and potential. As of the provided data, the undergraduate program has disbursed loans totaling $1,568,000 to 296 students, and the graduate program has provided $71,000 to 17 students. The foundation's primary objective is to help these students overcome financial barriers and attain a higher level of education.
Official website here: www.cantonstudentloan.org
Who is the CEO of The Canton Student Loan Foundation?
Kimberly Leggett is the Executive Director of The Canton Student Loan Foundation.
Official website here: www.cantonstudentloan.org
What is the revenue of The Canton Student Loan Foundation?
The Canton Student Loan Foundation's revenue in 2023 was $952,397.
Official website here: www.cantonstudentloan.org
Who are the executives of The Canton Student Loan Foundation and what are their salaries?
The average compensation at The Canton Student Loan Foundation during 2023 was $40,774. There are 3 employees and 22 volunteers at The Canton Student Loan Foundation.
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Official website here: www.cantonstudentloan.org
Where can I find the form 990 for The Canton Student Loan Foundation?
The Canton Student Loan Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cantonstudentloan.org
Learn more at the official website: www.cantonstudentloan.org
Mission Statement of The Canton Student Loan Foundation
The Canton Student Loan Foundation, as its mission states, aims to assist graduates of Stark County high schools in achieving higher education by providing them with low-interest loans. This nonprofit organization serves as a financial lifeline for eligible applicants, enabling them to complete post-high school education and training. By granting these loans, The Canton Student Loan Foundation empowers local students to further their academic pursuits, potentially opening up a world of opportunities for their future careers. The undergraduate program, in particular, has disbursed over $1.5 million to 296 students, while the graduate program has also extended support to 17 students, disbursing $71,000. In essence, The Canton Student Loan Foundation plays a crucial role in breaking down financial barriers, allowing deserving students to pursue their education and ultimately, contribute positively to their communities.
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Impact
October, 2024
The Canton Student Loan Foundation significantly impacts the local community by facilitating access to higher education for graduates of Stark County high schools. By providing low-interest loans, it empowers students to pursue post-secondary education and vocational training, thereby enhancing their career prospects and overall economic mobility.
In recent years, the foundation has disbursed substantial financial assistance, with the undergraduate program alone lending $1,568,000 to 296 students, and the graduate program contributing $71,000 to 17 students. This financial support not only alleviates the burden of educational expenses but also fosters a culture of learning and growth within the community, ensuring that more individuals have the opportunity to achieve their academic goals. As a result, the Canton Student Loan Foundation plays a critical role in shaping a more educated workforce and enriching the local economy.
This information is meant to be a general summary of The Canton Student Loan 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: $167,939
- Program Service Revenue: $202,036
- Gross Receipts: $952,397
Assets and Liabilities:
- Total Assets: $14,140,459
- Total Liabilities: $30,386
- Net Assets: $14,110,073
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$202,036
Organization Details
Founding Year
1922
Phone
(330) 493-0020Principal Officer
Kimberly Leggett
Main Address
4974 Higbee Ave NW Atrium South, Canton, OH, 44718
Website
www.cantonstudentloan.orgNTEE Category
Code: B82 - Education
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