Overview
What is Elgin Community College Foundation?
The Elgin Community College Foundation, established in 1984 as a 501(C)3 organization, is a nonprofit entity situated in Elgin, Illinois. With a mission to enhance community life and education, the foundation manages over 250 individual scholarships. In the 2022-2023 academic year, these funds resulted in 330 awards, supporting the educational commitments of 307 students. Scholarship eligibility criteria vary, considering factors such as academic excellence, leadership skills, specific areas of study, students who have overcome personal obstacles, and financial need. The foundation's primary objective is to maximize access to exceptional education, thereby improving lives and strengthening the local community.
Official website here: www.elgin.edu/eccfoundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Elgin Community College Foundation has achieved an impressive score of 96%, reflecting its strong performance in accountability and finance. This high rating is based solely on a single beacon score, emphasizing the foundation's commitment to transparency and sound financial practices. The foundation's fiscal management appears robust, with no material diversion of assets reported and a low liabilities to assets ratio of 0.75%.
Organizational strengths include a fully independent board comprising 20 members, which contributes to effective governance. The foundation has also implemented several important policies, including conflict of interest and whistleblower policies, ensuring ethical management. Additionally, the program expense ratio stands at 74.80%, indicating a significant portion of resources are directed towards fulfilling its mission.
While the foundation's financial practices and governance are commendable, potential limitations were not highlighted in the available data. Overall, the Elgin Community College Foundation exemplifies a well-managed nonprofit that prioritizes its accountability and financial health, making it a reliable choice for donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Elgin Community College Foundation legitimate?
Elgin Community College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elgin Community College 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.
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Official website here: www.elgin.edu/eccfoundation
What is the mission statement of Elgin Community College Foundation?
The Elgin Community College Foundation, established in 1984, has a mission to maximize access to exceptional education that can significantly improve lives and strengthen the community. As a 501(c)3 organization, its primary objective is to ensure that a wide range of students have the opportunity to receive quality education. The foundation manages over 250 individual scholarships, which were awarded to 307 students in the 2022-2023 academic year. Scholarship eligibility criteria are set by donors and may include factors such as academic excellence, demonstrated leadership skills, specific areas of study, personal obstacles overcome, and financial need.
Official website here: www.elgin.edu/eccfoundation
Who is the CEO of Elgin Community College Foundation?
Kimberly Wagner is the Chair of Elgin Community College Foundation.
Official website here: www.elgin.edu/eccfoundation
What is the revenue of Elgin Community College Foundation?
Elgin Community College Foundation's revenue in 2023 was $912,000.
Official website here: www.elgin.edu/eccfoundation
Who are the executives of Elgin Community College Foundation and what are their salaries?
There 145 volunteers at Elgin Community College Foundation.
Here are 24 key members and their salaries:
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Official website here: www.elgin.edu/eccfoundation
Where can I find the form 990 for Elgin Community College Foundation?
Elgin Community College Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.elgin.edu/eccfoundation
Learn more at the official website: www.elgin.edu/eccfoundation
Mission Statement of Elgin Community College Foundation
The Elgin Community College Foundation, established in 1984 as a 501(c)3 organization, is committed to maximizing access to exceptional education that has the potential to enhance lives and strengthen the community. This mission-driven organization oversees more than 250 individual scholarships, providing financial support to students demonstrating academic excellence, leadership qualities, or a commitment to specific programs of study. In the 2022-2023 academic year alone, the Foundation awarded 330 scholarships to 307 students, helping to alleviate financial burdens and empower these individuals to pursue their educational aspirations. The criteria for scholarship awards are established by donors, taking into account various factors such as academic performance, demonstrated leadership abilities, and the students' ability to overcome personal or life obstacles. By supporting the educational goals of these students, the Elgin Community College Foundation plays a crucial role in fostering a stronger, more educated community.
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Impact
October, 2024
Elgin Community College Foundation significantly enhances access to exceptional education, positively impacting both individuals and the broader community. By managing over 250 individual scholarships, the foundation has awarded 330 scholarships supporting the educational aspirations of 307 students during the 2022-2023 academic year.
These scholarships are tailored to meet diverse criteria set by generous donors, including academic excellence, leadership qualities, specific fields of study, and the ability to overcome personal challenges. This targeted support not only alleviates financial burdens for students but also empowers them to pursue their educational goals, thereby fostering personal growth and community enrichment. Ultimately, the foundation plays a crucial role in transforming lives and strengthening the community in Elgin, Illinois.
This information is meant to be a general summary of Elgin Community College 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: $18,180
- Gross Receipts: $1,010,397
Assets and Liabilities:
- Total Assets: $11,848,846
- Total Liabilities: $89,677
- Net Assets: $11,759,169
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Organization Details
Founding Year
1984
Phone
(847) 214-7377Principal Officer
Kimberly Wagner
Main Address
1700 SPARTAN DRIVE, ELGIN, IL, 60123
Website
www.elgin.edu/eccfoundationNTEE Category
Code: B11 - Education
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