Overview
What is South Spencer Scholarship Foundation?
The South Spencer Scholarship Foundation, located at 403 Center Street, Rockport, IN 47635, is a dedicated nonprofit organization. Its primary mission is to provide financial aid for further education, offering scholarships to seniors and former graduates of South Spencer High School in Rockport, Indiana. In 2022, the foundation granted a total of 66,891 scholarships to students attending various institutions. This philanthropic endeavor enables individuals from this high school to pursue their educational goals and expand their horizons.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Star Rating
The South Spencer Scholarship Foundation has received a low rating of 53% from Charity Navigator, which reflects significant concerns in its accountability and finance practices. The foundation has no independent board members, which raises questions about governance and oversight. While the organization shows a high program expense ratio of 99.10%, indicating that most of its funds are directed toward its mission, the lack of transparency and independent oversight is alarming.
Several key policies that foster accountability are missing, including a conflict of interest policy and a whistleblower policy, which could protect the organization and its stakeholders. Additionally, the charity's website does not meet transparency standards, as it is not listed on their tax form and does not provide access to important financial documents. Despite having documented board meeting minutes, the absence of these essential policies and resources hinders the foundation's credibility.
Overall, while the South Spencer Scholarship Foundation demonstrates a strong commitment to its program spending, the lack of an independent board and critical governance policies presents serious limitations. Potential donors and stakeholders may want to consider these factors before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is South Spencer Scholarship Foundation legitimate?
South Spencer Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Spencer Scholarship 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 South Spencer Scholarship Foundation?
The South Spencer Scholarship Foundation's primary mission is to provide financial aid in the form of scholarships. This assistance is intended for seniors and former graduates of South Spencer High School in Rockport, IN. The foundation's aim is to support these individuals in their pursuit of further education by offering additional funds. In the year 2022 alone, the foundation distributed a substantial amount of 66,891 scholarships to students enrolled in various institutions.
Who is the CEO of South Spencer Scholarship Foundation?
John M Obermeier is the Superindtendent of South Spencer Scholarship Foundation.
What is the revenue of South Spencer Scholarship Foundation?
South Spencer Scholarship Foundation's revenue in 2022 was $56,766.
Who are the executives of South Spencer Scholarship Foundation and what are their salaries?
Here are 15 key members and their salaries:
- 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: $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: $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
Where can I find the form 990 for South Spencer Scholarship Foundation?
South Spencer Scholarship Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Spencer Scholarship Foundation
The South Spencer Scholarship Foundation is an organization committed to supporting the educational endeavors of seniors and former graduates from South Spencer High School. Their primary mission is to provide scholarships, enabling these individuals to pursue additional education at various institutions. In 2022 alone, the foundation distributed a substantial sum of 66,891 scholarships to these students, demonstrating their unwavering dedication to educational opportunities. The South Spencer Scholarship Foundation plays a significant role in empowering its recipients by providing the financial means necessary to further their academic pursuits.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
The impact of the South Spencer Scholarship Foundation is evident in the opportunities it provides to seniors and former graduates of South Spencer High School in Rockport, IN. By awarding scholarships, this organization enables individuals to pursue additional education and further their academic and professional goals. In 2022 alone, the foundation distributed a total of $66,891 in scholarships to students attending various institutions. This direct support not only helps students financially but also serves as a catalyst for their personal and educational growth. Through its commitment to education, the South Spencer Scholarship Foundation is making a tangible difference in the lives of individuals in the Rockport community.
This information is meant to be a general summary of South Spencer Scholarship 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.
- Gross Receipts: $56,766
Assets and Liabilities:
- Total Assets: $850,558
- Total Liabilities: $0
- Net Assets: $850,558
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1987
Phone
(812) 686-0179Principal Officer
John M Obermeier
Main Address
403 CENTER STREET, ROCKPORT, IN, 47635
NTEE Category
Code: B82 - Education
If you are a representative of South Spencer Scholarship Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.