Overview
What is Cbai Foundation For Community Banking?
Cbai Foundation for Community Banking, established in Springfield, Illinois, is a nonprofit organization committed to serving the public. Its primary mission is to support the education of future leaders by providing scholarships to deserving high school seniors hailing from Illinois. The foundation's activities revolve around this primary goal, striving to contribute positively to the community by investing in the human capital of its youngest generations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63%, Two-Star out of Four Stars
The Cbai Foundation For Community Banking has received a Two-Star rating from Charity Navigator, indicating concerns primarily regarding its Accountability & Finance score of 63%. The overall score is based on a singular beacon score, highlighting the organization's financial practices and governance. While it excels in areas such as having an entirely independent board and no material diversion of assets, there are significant weaknesses that impact its rating.
Strengths include a fully independent board with 10 out of 10 points, a solid conflict of interest policy, and good document retention practices. However, the organization is noted to be lacking a whistleblower policy, which is critical for promoting transparency and accountability. This absence may raise concerns regarding the organization's commitment to ethical practices and safeguarding its stakeholders.
Additionally, the program expense ratio is concerning, with only 1 out of 25 points, indicating that a very small percentage of its expenses are directed towards its programs. This aspect may suggest that the foundation is not effectively utilizing its resources to fulfill its mission, which is a limitation that potential donors should consider when evaluating the impact of their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Cbai Foundation For Community Banking legitimate?
Cbai Foundation For Community Banking is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cbai Foundation For Community Banking 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.
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What is the mission statement of Cbai Foundation For Community Banking?
The Cbai Foundation for Community Banking serves the public by offering educational scholarships to graduating high school seniors in Illinois. Their mission is centered around providing financial aid for higher education, aiming to support the future academic pursuits of these students. The foundation has a history of granting scholarships to selected high school seniors, contributing to their educational journey.
Who is the CEO of Cbai Foundation For Community Banking?
Kraig Lounsberry is the Chairman of Cbai Foundation For Community Banking.
What is the revenue of Cbai Foundation For Community Banking?
Cbai Foundation For Community Banking's revenue in 2022 was $83,054.
Who are the executives of Cbai Foundation For Community Banking and what are their salaries?
There 30 volunteers at Cbai Foundation For Community Banking.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Cbai Foundation For Community Banking?
Cbai Foundation For Community Banking's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cbai Foundation For Community Banking
Cbai Foundation for Community Banking, as a nonprofit organization, dedicates its efforts to serving the public by providing educational scholarships to graduating high school seniors in Illinois. The foundation's mission is centered around recognizing the potential in these young individuals and offering them financial aid for their higher education endeavors. Through these scholarships, the Cbai Foundation aims to support the academic growth and future prospects of Illinoisean high school graduates, thereby contributing to the betterment of the community at large. The foundation's financial aid has been instrumental in helping selected high school seniors pursue their educational goals.
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Impact
October, 2024
Cbai Foundation For Community Banking significantly impacts the lives of graduating high school seniors in Illinois by offering educational scholarships that facilitate access to higher education. Each year, the foundation identifies and supports deserving students, helping them overcome financial barriers that might otherwise prevent them from pursuing their academic aspirations. Through this initiative, the foundation not only empowers the next generation with educational opportunities but also fosters community growth and development by investing in the future of young individuals. This commitment to education helps cultivate a more informed and skilled workforce, ultimately contributing to the social and economic well-being of the community in Springfield and across the state of Illinois.
This information is meant to be a general summary of Cbai Foundation For Community Banking. 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: $46,552
- Gross Receipts: $83,054
Assets and Liabilities:
- Total Assets: $1,260,344
- Total Liabilities: $24,500
- Net Assets: $1,235,844
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Organization Details
Founding Year
1996
Phone
(217) 529-2265Principal Officer
Kraig Lounsberry
Main Address
901 COMMUNITY DRIVE, SPRINGFIELD, IL, 627035184
NTEE Category
Code: B82 - Education
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