Overview
What is Lake Superior College Foundation Inc?
Lake Superior College Foundation Inc, located in Duluth, Minnesota, serves as a supportive entity for Lake Superior College. The foundation's primary mission is to provide financial aid to students attending Lake Superior College, helping them pursue their educational goals. Additionally, the foundation extends its support to various cultural, scientific, and charitable activities within the college community. By providing scholarships and contributing to the college's overall initiatives, Lake Superior College Foundation Inc plays a crucial role in enriching the educational experience for its students and community.
Official website here: www.lsc.edu/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Lake Superior College Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong accountability and financial health. The foundation scored 100% in several key areas, including having a majority of independent board members and no material diversion of assets, which showcases its commitment to transparency and governance.
The organization's financial metrics are robust, with a program expense ratio of 88.85%, indicating that a significant portion of its expenditures directly supports its mission. Additionally, the foundation has implemented essential policies, such as conflict of interest and whistleblower policies, which further enhance its operational integrity.
While the foundation demonstrates excellence in financial management and governance, the overall rating is derived solely from one beacon score focusing on accountability and finance. This suggests that while financial practices are exceptional, additional insights into program effectiveness and community impact could provide a more comprehensive view of its overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Superior College Foundation Inc legitimate?
Lake Superior College Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Superior College Foundation 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.
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Official website here: www.lsc.edu/foundation
What is the mission statement of Lake Superior College Foundation Inc?
The Lake Superior College Foundation Inc's mission is to provide financial assistance, promoting educationally, culturally, scientifically, and charitable activities within the institution. This organization aims to support Lake Superior College by offering scholarships to students and providing program support to the college itself. The primary goal is to contribute financially to the college's endeavors, thereby enhancing its abilities to engage in various activities.
Official website here: www.lsc.edu/foundation
Who is the CEO of Lake Superior College Foundation Inc?
David Kline is the Chair of Lake Superior College Foundation Inc.
Official website here: www.lsc.edu/foundation
What is the revenue of Lake Superior College Foundation Inc?
Lake Superior College Foundation Inc's revenue in 2022 was $1,136,101.
Official website here: www.lsc.edu/foundation
Who are the executives of Lake Superior College Foundation Inc and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.lsc.edu/foundation
Where can I find the form 990 for Lake Superior College Foundation Inc?
Lake Superior College Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lsc.edu/foundation
Learn more at the official website: www.lsc.edu/foundation
Mission Statement of Lake Superior College Foundation Inc
Lake Superior College Foundation Inc is dedicated to supporting the educational, cultural, scientific, and charitable activities of Lake Superior College. This nonprofit organization aims to promote these endeavors by providing financial assistance. In doing so, they contribute to the overall growth and development of the college, fostering a conducive learning environment. Their mission is to offer scholarships to students of Lake Superior College and provide program support to the college itself. By investing in the education of its students, the Lake Superior College Foundation Inc plays a crucial role in nurturing the next generation of leaders and innovators.
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Impact
October, 2024
Lake Superior College Foundation Inc significantly enhances the educational landscape in Duluth, MN, by providing essential financial support that empowers students and enriches academic programs. Through its scholarships, the foundation alleviates the financial burden on students, enabling them to pursue their educational goals without the heavy weight of tuition costs. This support not only fosters individual success but also promotes a more educated workforce that benefits the local community.
Additionally, the foundation plays a crucial role in backing various educational, cultural, and scientific initiatives at Lake Superior College. By investing in programs that enhance learning and exploration, it cultivates an environment where students can thrive intellectually and creatively. Ultimately, the foundation's efforts contribute to the overall vitality of the college, helping to shape future leaders and innovators while positively impacting the broader community.
This information is meant to be a general summary of Lake Superior College Foundation 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: $26,449
- Gross Receipts: $1,150,545
Assets and Liabilities:
- Total Assets: $1,963,501
- Total Liabilities: $0
- Net Assets: $1,963,501
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Organization Details
Founding Year
1980
Phone
(218) 733-7707Principal Officer
David Kline
Main Address
2101 TRINITY ROAD, DULUTH, MN, 55811
Website
www.lsc.edu/foundationNTEE Category
Code: B42 - Education
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