Overview
What is Hoban Trust Fund Inc?
Hoban Trust Fund Inc is a nonprofit organization situated in Akron, Ohio, specifically at ONE HOLY CROSS BOULEVARD. Their primary mission is to support academic programs and offer scholarships for students attending Archbishop Hoban High School. By doing so, they aim to foster educational growth and opportunities for its students. The organization's activities are centered around this mission, providing financial aid to deserving students.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Hoban Trust Fund Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The charity's overall score is driven entirely by its strong performance in the Accountability & Finance category, where it scored 79%. This score reflects the organization’s commitment to transparency and responsible financial management.
One of the key strengths of Hoban Trust Fund Inc is its governance structure, featuring a fully independent board, which comprises 90% independent members. The organization has no reported material diversion of assets and maintains comprehensive policies on conflict of interest, whistleblower protection, and document retention. These aspects demonstrate a strong commitment to ethical practices and effective oversight.
However, while the charity excels in several areas, it is important to note that its overall rating is based solely on accountability and finance metrics. There may be other factors related to program effectiveness or community impact that are not captured in this score. Nonetheless, the high program expense ratio of 88.11% suggests that a significant majority of its expenditures are directed toward its mission, which is a positive indicator for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Hoban Trust Fund Inc legitimate?
Hoban Trust Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hoban Trust Fund 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.
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 Hoban Trust Fund Inc?
Hoban Trust Fund Inc's mission is centered around supporting academic programs and providing scholarships for students at Archbishop Hoban High School. The organization's primary objective is to aid in the educational advancement of these students, ensuring they have the necessary resources to excel academically. The fund's activities primarily focus on offering financial aid, thereby enabling deserving students to pursue their education without financial constraints. By doing so, Hoban Trust Fund Inc contributes to the overall development and future prospects of these students.
Who is the CEO of Hoban Trust Fund Inc?
Steven A Dimengo is the Chairman of Hoban Trust Fund Inc.
What is the revenue of Hoban Trust Fund Inc?
Hoban Trust Fund Inc's revenue in 2022 was $1,075,782.
Who are the executives of Hoban Trust Fund Inc and what are their salaries?
There 10 volunteers at Hoban Trust Fund Inc.
Here are 11 key members and their salaries:
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- Related: $166,690
- Other: $25,945
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Where can I find the form 990 for Hoban Trust Fund Inc?
Hoban Trust Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hoban Trust Fund Inc
Hoban Trust Fund Inc, a nonprofit organization, is dedicated to supporting scholastic programs and providing scholarships for students at Archbishop Hoban High School. Their mission is to contribute to the academic growth and success of these students by offering financial aid and fostering educational opportunities. This commitment allows deserving students to pursue their education without financial constraints, thereby empowering them to reach their full potential.
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Impact
October, 2024
Hoban Trust Fund Inc significantly enhances educational opportunities for students at Archbishop Hoban High School. By providing scholarships, it enables deserving students to pursue their academic goals, alleviating financial barriers that might otherwise hinder their educational journeys. Additionally, the support for scholastic programs empowers students by enriching their learning experiences, fostering personal growth, and promoting academic excellence. In this way, the organization plays a crucial role in shaping the future of its students, equipping them with the knowledge and skills needed to succeed. The impact is felt not just within the school, but also in the broader community, as these students grow into informed, engaged citizens.
This information is meant to be a general summary of Hoban Trust Fund 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 2022.
- Investment Income: $386,168
- Gross Receipts: $1,075,782
Assets and Liabilities:
- Total Assets: $13,078,356
- Total Liabilities: $8,256
- Net Assets: $13,070,100
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Organization Details
Founding Year
1978
Phone
(330) 773-6658Principal Officer
Steven A Dimengo
Main Address
ONE HOLY CROSS BOULEVARD, AKRON, OH, 44306
NTEE Category
Code: B84 - Education
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