Overview
What is University Club Scholarship Fund?
The University Club Scholarship Fund, situated in Rockford, Illinois, is a distinguished scholarship or financial aid organization. Their primary purpose is to offer financial assistance for higher education, thus empowering students with the opportunity to pursue their academic goals. By providing scholarships, this nonprofit organization strives to alleviate financial burdens and foster educational growth within the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60%, Two-Star out of Four Star Rating
The University Club Scholarship Fund has received a Two-Star rating from Charity Navigator, reflecting concerns primarily in the areas of accountability and finance. The organization scored 60% overall, with the score heavily influenced by a lack of independent board members, which received a score of 0 out of 10 points. Despite this, the fund has a solid program expense ratio of 74.15%, indicating that a significant portion of funds is allocated directly to its programs.
Strengths of the organization include a successful management of its financial liabilities, with a liabilities to assets ratio of 0.00%. Additionally, the charity has demonstrated that there has been no material diversion of assets, earning full points in that category. However, it lacks essential governance policies, such as a whistleblower policy and document retention policy, which are critical for transparency and accountability.
Several missing elements, including an independent board and various policies, negatively impact its overall rating. The absence of publicly available financial documents, like tax forms on its website, further limits transparency. These issues suggest that while the organization may be effective in its programming, there are significant improvements needed in governance and financial reporting.
This AI summary has been generated from information found on Charity Navigator.
Is University Club Scholarship Fund legitimate?
University Club Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Club Scholarship Fund 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: $8,006
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What is the mission statement of University Club Scholarship Fund?
The University Club Scholarship Fund is an organization dedicated to providing financial aid for higher education. Their primary mission is to offer scholarships to individuals pursuing their studies further. By providing these scholarships, they aim to help deserving students overcome financial barriers and achieve their academic goals. The organization's activities primarily revolve around scholarship grants, thereby contributing to the wider educational community.
Who is the CEO of University Club Scholarship Fund?
John Mecklenburg is the President of University Club Scholarship Fund.
What is the revenue of University Club Scholarship Fund?
University Club Scholarship Fund's revenue in 2022 was $47,770.
Who are the executives of University Club Scholarship Fund and what are their salaries?
Here are 17 key members and their salaries:
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Where can I find the form 990 for University Club Scholarship Fund?
University Club Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of University Club Scholarship Fund
The University Club Scholarship Fund, as a scholarship or financial aid organization, is devoted to providing assistance for higher education. In simpler terms, this nonprofit organization aims to offer scholarships to individuals seeking advanced learning opportunities. By doing so, the University Club Scholarship Fund plays a significant role in making higher education more accessible, thereby empowering individuals to pursue their academic goals and future careers.
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Impact
August, 2024
The University Club Scholarship Fund has a significant impact on providing scholarships for higher education in Rockford, IL. Through its mission to support students in pursuing their academic goals, the fund plays a crucial role in enabling individuals to access higher education opportunities that may otherwise be financially out of reach. By awarding scholarships, the University Club Scholarship Fund contributes to creating a more equitable and accessible educational landscape, empowering students to achieve their full potential and pursue their academic aspirations.
This information is meant to be a general summary of University Club Scholarship Fund. 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: $42,670
- Gross Receipts: $310,359
Assets and Liabilities:
- Total Assets: $577,316
- Total Liabilities: $0
- Net Assets: $577,316
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Organization Details
Founding Year
2003
Phone
(815) 231-2481Principal Officer
John Mecklenburg
Main Address
6838 E STATE STREET SUITE 2, ROCKFORD, IL, 61108
NTEE Category
Code: B82 - Education
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