Overview
What is Lake Area Technical College Foundation?
The Lake Area Technical College Foundation is a nonprofit organization committed to securing private donations that benefit Lake Area Technical College. This includes funding for scholarships and college improvements. By raising funds from the private sector, the foundation helps deserving students access education and invests in the college's infrastructure.
Official website here: www.lakeareatech.edu
What are the reviews and ratings of this charity?
87% rating from Charity Navigator, resulting in a Three-Star out of Four Star rating indicates that the Lake Area Technical College Foundation is performing well in terms of accountability and finance. With a high score of 96.49% for program expense ratio, the organization effectively directs most of its funds towards its programs, demonstrating a strong commitment to its mission.
The foundation boasts a fully independent board with 100% of its members meeting independence criteria, which enhances transparency and governance. Additionally, the organization has established policies for whistleblowers, conflicts of interest, and document retention, showcasing its dedication to ethical practices.
However, the foundation faces a challenge in fundraising efficiency, receiving a score of $0.01, indicating that its fundraising efforts may not be as effective as desired. Despite this limitation, the overall financial health is sound, as evidenced by a low liabilities-to-assets ratio and significant working capital, suggesting the foundation is well-positioned to continue its support of educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Area Technical College Foundation legitimate?
Lake Area Technical College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Area Technical 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $153,683
For more financial information, click here
Official website here: www.lakeareatech.edu
What is the mission statement of Lake Area Technical College Foundation?
The Lake Area Technical College Foundation is dedicated to securing private sector donations for Lake Area Technical College. These contributions are earmarked for scholarships and campus enhancements. The Foundation's primary role is to facilitate financial support to benefit the educational institution. Through its fundraising efforts, the organization provides opportunities for students and contributes to the overall improvement of the college. By gathering resources from the private sector, the Foundation plays a crucial role in enhancing the learning experience and furthering the mission of Lake Area Technical College.
Official website here: www.lakeareatech.edu
Who is the CEO of Lake Area Technical College Foundation?
Tracy Buisker is the President of Lake Area Technical College Foundation.
Official website here: www.lakeareatech.edu
What is the revenue of Lake Area Technical College Foundation?
Lake Area Technical College Foundation's revenue in 2022 was $15,847,172.
Official website here: www.lakeareatech.edu
Who are the executives of Lake Area Technical College Foundation and what are their salaries?
There 17 volunteers at Lake Area Technical College Foundation.
Here are 19 key members and their salaries:
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Official website here: www.lakeareatech.edu
Where can I find the form 990 for Lake Area Technical College Foundation?
Lake Area Technical College Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakeareatech.edu
Learn more at the official website: www.lakeareatech.edu
Mission Statement of Lake Area Technical College Foundation
Lake Area Technical College Foundation is a dedicated organization that works tirelessly to secure private sector contributions for the benefit of Lake Area Technical College. Its primary mission is to generate funds for scholarships and enhancements that support the educational institution in question. By doing so, it plays a vital role in expanding opportunities for students and advancing the overall development of Lake Area Technical College. Through its relentless fundraising efforts, the organization contributes significantly to the academic journey of numerous students, enabling them to pursue their dreams and make a difference in their communities. Additionally, it invests in the college's infrastructure, ensuring a conducive learning environment that fosters innovation and growth.
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Impact
October, 2024
Lake Area Technical College Foundation significantly enhances the educational landscape by raising private sector contributions aimed at supporting scholarships and improvements for Lake Area Technical College. These efforts ensure that students have access to vital financial resources, enabling them to pursue their education without being burdened by financial constraints. Scholarships awarded through the foundation directly impact students' ability to enroll and succeed in their chosen programs, fostering a skilled workforce in the community.
Additionally, the foundation actively invests in improvements to the college, ensuring that facilities and resources remain cutting-edge and conducive to learning. This commitment not only enriches the student experience but also attracts prospective students and businesses to the area, ultimately contributing to the region’s economic growth and development. By prioritizing education and workforce development, the Lake Area Technical College Foundation is making a lasting impact on individuals and the wider community.
This information is meant to be a general summary of Lake Area Technical 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 2022.
- Investment Income: $574,909
- Gross Receipts: $17,362,609
Assets and Liabilities:
- Total Assets: $28,796,845
- Total Liabilities: $995,392
- Net Assets: $27,801,453
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Organization Details
Founding Year
1992
Phone
(605) 882-5284Principal Officer
Tracy Buisker
Main Address
1201 ARROW AVE NE, WATERTOWN, SD, 57201
Website
www.lakeareatech.eduNTEE Category
Code: B82 - Education
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