Overview
What is College Of Lake County Foundation?
The College of Lake County Foundation, located at 19351 West Washington Street, Grayslake, IL 60030, is a nonprofit organization dedicated to fostering educational opportunities in Lake County, Illinois. By forming philanthropic partnerships, the foundation aims to enhance the College of Lake County's mission to offer high-quality, accessible learning experiences and encourage student success. Through their efforts, they provide grants and scholarships to students, helping them manage tuition and fees. Their overarching mission is to open doors to education for all residents of Lake County.
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
The College of Lake County Foundation has received a solid Three-Star rating from Charity Navigator, indicating a good level of accountability and financial health. The organization boasts a high percentage of independent board members and has shown no material diversion of assets, which reflects strong governance and transparency practices. Notably, their program expense ratio is exceptionally high at 99.77%, suggesting that almost all funds are directed towards their mission, rather than administrative costs.
However, the Foundation does have areas that require improvement. Their fundraising efficiency ratio is notably low at $0.002, which indicates potential challenges in generating funds relative to expenses incurred in fundraising activities. Additionally, the absence of a whistleblower policy and a document retention and destruction policy may raise concerns about internal controls and compliance.
Overall, while the College of Lake County Foundation demonstrates strong financial management and governance practices, addressing the noted deficiencies would enhance their operational effectiveness and trust among donors.
This AI summary has been generated from information found on Charity Navigator.
Is College Of Lake County Foundation legitimate?
College Of Lake County Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. College Of Lake County 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:
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For more financial information, click here
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
What is the mission statement of College Of Lake County Foundation?
The College of Lake County Foundation's mission is centered around being the preferred educational partner in Lake County, Illinois. By establishing philanthropic partnerships, they aim to enhance the College's mission of providing high-quality, accessible learning opportunities, contributing to student success, and strengthening the diverse community within Lake County. Their primary objective, as stated in their mission description, is to "open doors to educational opportunity for all of Lake County." This is achieved through financial contributions to the College, other organizations, and students, specifically for educational grants and scholarships to cover tuition and fees.
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
Who is the CEO of College Of Lake County Foundation?
Scot Parker is the Secretary of College Of Lake County Foundation.
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
What is the revenue of College Of Lake County Foundation?
College Of Lake County Foundation's revenue in 2022 was $6,924,172.
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
Who are the executives of College Of Lake County Foundation and what are their salaries?
There 100 volunteers at College Of Lake County Foundation.
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Official website here: www.clcillinois.edu/aboutclc/clc-foundation
Where can I find the form 990 for College Of Lake County Foundation?
College Of Lake County Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clcillinois.edu/aboutclc/clc-foundation
Learn more at the official website: www.clcillinois.edu/aboutclc/clc-foundation
Mission Statement of College Of Lake County Foundation
The College of Lake County Foundation is dedicated to being the premier educational foundation in its region. Its mission, in simple terms, is to provide accessible learning opportunities and foster student success, thereby strengthening the diverse Lake County communities it serves. This mission is centered around opening doors to education for all residents of Lake County, Illinois. To achieve this, the foundation makes payments to various entities, including the College of Lake County and other organizations, as well as directly to students. These funds are primarily used to provide grants and scholarships that cover tuition and fees, thereby making higher education more affordable and attainable for a wider population. By doing so, the College of Lake County Foundation plays a pivotal role in enhancing the educational landscape and empowering individuals to shape their futures.
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Impact
October, 2024
The College of Lake County Foundation significantly impacts the community by fostering educational opportunities for individuals in Lake County, Illinois. Through its philanthropic partnerships, the Foundation enhances student success and promotes access to high-quality learning experiences.
By providing grants and scholarships to students, the Foundation alleviates financial barriers, enabling many to pursue their educational goals. This investment in education not only transforms lives but also strengthens the diverse communities within Lake County, contributing to a more educated workforce and a vibrant local economy.
Furthermore, the Foundation’s commitment to inclusivity ensures that all residents have the opportunity to engage with and benefit from educational programs, thereby opening doors to a brighter future for the entire region.
This information is meant to be a general summary of College Of Lake County 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: $508,280
- Gross Receipts: $8,284,573
Assets and Liabilities:
- Total Assets: $11,745,134
- Total Liabilities: $7,794
- Net Assets: $11,737,340
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Organization Details
Founding Year
1974
Phone
(847) 543-2091Principal Officer
Scot Parker
Main Address
19351 West Washington Street, Grayslake, IL, 60030
NTEE Category
Code: B42 - Education
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