Overview
What is Marengo Area Schools Foundation Inc?
Marengo Area Schools Foundation Inc, located at 110 Franks Road, Marengo, Illinois 60152, is a dedicated nonprofit organization. Its primary mission is to support the local Marengo schools by raising additional funds. This financial aid enables the schools to provide an exceptional education that surpasses the financial resources obtained through taxation alone. The foundation's activities are focused on securing funds to enrich the educational experience for the students in the Marengo area.
Official website here: www.masef-il.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
The Marengo Area Schools Foundation Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in its financial and accountability practices. The foundation displays strong governance with an independent board consisting of 10 members and demonstrates no material diversion of assets. Additionally, it has a very favorable program expense ratio of 81.29%, suggesting that a significant majority of its expenses are directed towards its charitable programs.
However, there are notable areas for improvement as indicated by the rating data. The foundation lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which significantly impacted its accountability score. Furthermore, while the foundation's website is listed on its tax form, critical documents like the tax form itself are not made available on its website, which can hinder transparency.
Overall, while the Marengo Area Schools Foundation Inc shows commendable financial health and program focus, addressing its governance and transparency shortcomings would enhance its accountability and overall effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Marengo Area Schools Foundation Inc legitimate?
Marengo Area Schools Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marengo Area Schools 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.masef-il.org/
What is the mission statement of Marengo Area Schools Foundation Inc?
The Marengo Area Schools Foundation Inc's mission is to raise funds to enhance the educational resources for Marengo Area Schools. Their objective is to supplement the financial support from taxation, providing a higher quality education than what is normally available. The organization takes pride in aiding the Marengo, Illinois schools with the necessary finances to offer an enriched educational experience beyond the standard budget. By raising funds, they aim to provide additional resources and opportunities that contribute to a well-rounded education for the students.
Official website here: www.masef-il.org/
Who is the CEO of Marengo Area Schools Foundation Inc?
Suzanne Polnow is the President of Marengo Area Schools Foundation Inc.
Official website here: www.masef-il.org/
What is the revenue of Marengo Area Schools Foundation Inc?
Marengo Area Schools Foundation Inc's revenue in 2022 was $31,875.
Official website here: www.masef-il.org/
Who are the executives of Marengo Area Schools Foundation Inc and what are their salaries?
There 25 volunteers at Marengo Area Schools Foundation Inc.
Here are 10 key members and their salaries:
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Official website here: www.masef-il.org/
Where can I find the form 990 for Marengo Area Schools Foundation Inc?
Marengo Area Schools Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.masef-il.org/
Learn more at the official website: www.masef-il.org/
Mission Statement of Marengo Area Schools Foundation Inc
Marengo Area Schools Foundation Inc is dedicated to raising funds to support the Marengo Area Schools. The organization's mission is to provide additional financial resources that enable the schools to offer a high-quality education beyond what is feasible through taxation alone. By raising funds, Marengo Area Schools Foundation Inc aims to enhance the educational experience of students, ensuring they receive a comprehensive and enriching education.
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Impact
October, 2024
Marengo Area Schools Foundation Inc plays a crucial role in enhancing the quality of education within the Marengo, Illinois school district. By raising funds, the foundation provides essential financial support that allows schools to implement programs and initiatives that surpass the limitations of traditional tax funding. This additional support helps ensure that students receive a well-rounded educational experience, access to advanced resources, and opportunities for enrichment that significantly contribute to their learning and personal development. The foundation’s commitment to fostering educational excellence profoundly impacts the community, helping to shape future generations.
This information is meant to be a general summary of Marengo Area Schools 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: $16,203
- Gross Receipts: $220,802
Assets and Liabilities:
- Total Assets: $924,190
- Total Liabilities: $0
- Net Assets: $924,190
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Organization Details
Founding Year
1992
Phone
(630) 746-6367Principal Officer
Suzanne Polnow
Main Address
110 Franks Road, Marengo, IL, 60152
Website
www.masef-il.org/NTEE Category
Code: B11 - Education
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