Overview
What is Henry Strong Educational Foundation?
The Henry Strong Educational Foundation is a nonprofit organization, primarily based in Illinois, with its address listed as PO Box Chicago. Their mission is centered around providing financial aid to qualified students, offering both scholarships and loans. The foundation supports approximately thirty accredited colleges and universities, predominantly located in the Midwest. Through these initiatives, the Henry Strong Educational Foundation aims to contribute to the higher education of deserving students, thereby fostering their academic growth and future prospects.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 39%
The Henry Strong Educational Foundation has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant concerns around its accountability and financial practices. With a score of just 39%, this rating highlights the lack of transparency in financial reporting, as the organization has not provided any financial statements, which severely impacts its overall evaluation.
On the positive side, the foundation has a fully independent board of directors, indicating strong governance practices in that regard. They have established policies for conflict of interest and whistleblower protections, which are crucial for maintaining ethical standards. Additionally, the organization has demonstrated no material diversion of assets, contributing positively to its governance score.
However, the foundation struggles with financial transparency and accountability, as indicated by its dismal program expense ratio of 0.22%. The absence of key financial documents on its website and the missing tax forms raise significant red flags for potential donors and stakeholders. Overall, while there are strengths in governance, the foundation's financial practices need urgent attention.
This AI summary has been generated from information found on Charity Navigator.
Is Henry Strong Educational Foundation legitimate?
Henry Strong Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Henry Strong Educational 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Henry Strong Educational Foundation?
The Henry Strong Educational Foundation is committed to providing scholarships and making loans to qualified students attending approximately thirty accredited colleges and universities, primarily located in the Midwest. Their mission is centered around facilitating higher education opportunities for deserving students, aiming to expand their educational horizons and potential. The foundation also manages administrative expenses and handles loan write-offs as part of its operations.
Who is the CEO of Henry Strong Educational Foundation?
Bruce W Macarthur is the Vice President of Henry Strong Educational Foundation.
What is the revenue of Henry Strong Educational Foundation?
Henry Strong Educational Foundation's revenue in 2022 was $483,093.
Who are the executives of Henry Strong Educational Foundation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Henry Strong Educational Foundation?
Henry Strong Educational Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Henry Strong Educational Foundation
The Henry Strong Educational Foundation is committed to an altruistic mission. They focus their efforts on providing scholarships and making loans to deserving students attending approximately thirty accredited colleges and universities, predominantly located in the Midwest. The organization's primary goal is to empower students by offering them the financial support they need to further their education. Besides scholarships, Henry Strong Educational Foundation also provides loans to qualified students. It should be noted that the foundation incurs administrative expenses and occasional loan write-offs in the process of fulfilling its mission.
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Impact
July, 2024
The Henry Strong Educational Foundation provides crucial support to qualified students attending accredited colleges and universities primarily in the Midwest. By offering scholarships and making loans available, the foundation helps students pursue their educational goals without being burdened by financial constraints. Their impact is felt directly in the lives of these students, enabling them to access higher education opportunities that may have otherwise been out of reach. Through their dedication to fostering educational advancement, the foundation plays a significant role in shaping the future of numerous individuals and contributing to the workforce and society as a whole.
This information is meant to be a general summary of Henry Strong Educational 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: $333,445
- Program Service Revenue: $149,648
- Gross Receipts: $1,190,412
Assets and Liabilities:
- Total Assets: $14,214,951
- Total Liabilities: $0
- Net Assets: $14,214,951
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST FROM STUDENT LOANS
Revenue
$149,648
Organization Details
Founding Year
1919
Phone
(312) 630-6000Principal Officer
Bruce W Macarthur
Main Address
NORTHERN TRUST COMPANY, PO BOX CHICAGO, IL, 60680
NTEE Category
Code: B82 - Education
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