Overview
What is Thomas Jernigan Scholarship?
The Thomas Jernigan Scholarship is a philanthropic initiative aimed at distributing funds to Birmingham Southern College, a supported organization. Its primary mission is to award and manage scholarships, as outlined in the Jernigan Scholarship Agreement. This nonprofit organization, while not directly providing educational services, plays a crucial role in supporting the higher education sector by providing financial aid to deserving students.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 17%, Zero-Star out of Four Star rating. The Thomas Jernigan Scholarship has received a low score primarily due to concerns related to accountability and finance. This rating reflects significant shortcomings in key governance areas, such as the lack of independent board members, missing conflict of interest and whistleblower policies, and the absence of essential documents on their website, which raises concerns about transparency.
The organization's financial management appears to be lacking, as indicated by a low program expense ratio of 38.92%. This suggests that a relatively small portion of the funds raised is being directed toward its intended programs. Additionally, the absence of board meeting minutes and required financial documentation further detracts from its credibility and accountability to stakeholders.
While there are no reported diversions of assets, the overall governance structure remains concerning. The lack of independent oversight and missing policies could pose risks to the nonprofit's operational integrity, making it vital for potential donors and beneficiaries to carefully consider these factors before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Thomas Jernigan Scholarship legitimate?
Thomas Jernigan Scholarship is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thomas Jernigan Scholarship 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: $41,588
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Thomas Jernigan Scholarship?
The Thomas Jernigan Scholarship is a supporting organization with a mission to distribute its income to Birmingham Southern College, the beneficiary institution. This mission is carried out by awarding and administering scholarships in accordance with the Jernigan Scholarship Agreement. The primary objective of the scholarship is to provide financial aid to eligible students, thereby supporting their educational pursuits. The scholarship program aims to contribute to the broader educational community, thereby promoting access to higher education for deserving individuals. The specific criteria and eligibility requirements for the scholarship are outlined in the Jernigan Scholarship Agreement.
What is the revenue of Thomas Jernigan Scholarship?
Thomas Jernigan Scholarship's revenue in 2024 was $480,178.
Who are the executives of Thomas Jernigan Scholarship and what are their salaries?
There is 1 key member and their salary:
- Compensation: $41,588
- Related: $0
- Other: $0
Where can I find the form 990 for Thomas Jernigan Scholarship?
Thomas Jernigan Scholarship's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Thomas Jernigan Scholarship
The Thomas Jernigan Scholarship is a supporting organization with a mission to aid Birmingham Southern College. Its primary function is to distribute its income in accordance with the Jernigan Scholarship Agreement, enabling the college to award and manage scholarships. By doing so, the Thomas Jernigan Scholarship plays a significant role in supporting the educational pursuits of individuals, potentially contributing to their future success and personal growth.
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Impact
October, 2024
The Thomas Jernigan Scholarship significantly impacts students at Birmingham Southern College by providing financial support that facilitates access to higher education. By distributing income to the college, the scholarship enables the institution to award and administer scholarships to deserving students. This financial assistance helps alleviate the burden of tuition costs, allowing students to focus more on their studies and academic pursuits.
The scholarship plays a crucial role in promoting educational opportunities, ensuring that talented individuals from diverse backgrounds can pursue their dreams of higher education without being hindered by financial constraints. The presence of such scholarships fosters a supportive academic environment, encouraging student engagement and participation in college life.
Moreover, the Thomas Jernigan Scholarship contributes to the overall mission of Birmingham Southern College, enhancing the institution's ability to attract and retain high-caliber students. This, in turn, strengthens the college's community, enriches the learning experience, and prepares graduates to succeed in their future endeavors. Overall, the scholarship has a profound and lasting impact on the lives of the students it supports, empowering them to achieve their academic and professional goals.
This information is meant to be a general summary of Thomas Jernigan Scholarship. 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 2024.
- Investment Income: $133,878
- Gross Receipts: $2,628,825
Assets and Liabilities:
- Total Assets: $6,591,042
- Total Liabilities: $0
- Net Assets: $6,591,042
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Organization Details
Founding Year
2006
Principal Officer
Pnc Bank N A
NTEE Category
Code: B112 - Education
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