Overview
What is Henry Ford College Foundation?
The Henry Ford College Foundation is a charitable organization, based in Dearborn, Michigan, with a mission to support programs and services at Henry Ford College. Exempt from federal income tax liability, the foundation raises funds to bolster the college's objectives, fostering relationships with influential figures, alumni, foundations, and affluent individuals. Its primary goal is to empower Henry Ford College students by providing educational opportunities, enhancing communication skills, and offering cultural experiences, preparing them for a rapidly evolving world and workforce. The foundation operates under the Internal Revenue Code sections 501(c)(3) and 509, serving as a vital resource for the college and its diverse student population.
Official website here: www.foundation.hfcc.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The Henry Ford College Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. Their overall score is derived entirely from their accountability metrics, indicating a well-managed organization. A notable highlight is their high percentage of independent board members, which contributes positively to governance practices.
The foundation demonstrates robust financial health with an impressive program expense ratio of 88.96%, ensuring that the majority of funds are directed towards their programs. Their liabilities to assets ratio of 0.47% suggests a solid balance sheet, while a working capital ratio of 8.47 years indicates financial sustainability. Additionally, they have maintained transparency by listing their website on tax forms and implementing a conflict of interest policy.
However, there are some areas for improvement, particularly the absence of a whistleblower policy and a document retention and destruction policy. These omissions could pose potential risks and might impact perceptions of their governance practices. Overall, the Henry Ford College Foundation showcases strong financial stewardship and accountability, while also identifying areas where they can enhance their organizational policies.
This AI summary has been generated from information found on Charity Navigator.
Is Henry Ford College Foundation legitimate?
Henry Ford College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Henry Ford 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
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.foundation.hfcc.edu
What is the mission statement of Henry Ford College Foundation?
The Henry Ford College Foundation, as a charitable organization exempt from federal income tax, has a mission to raise support for the college. They achieve this by establishing long-term relationships with influential individuals and organizations, such as business leaders, alumni, foundations, and well-off individuals. The primary goal is to aid the college in achieving its objectives and to support the academic and career aspirations of its students. The foundation is dedicated to providing its diverse student body with essential skills, including knowledge, communication, and cultural opportunities, to prepare them for the rapidly evolving world and workplace.
Official website here: www.foundation.hfcc.edu
Who is the CEO of Henry Ford College Foundation?
A Reginald Best is the President Of Hfc of Henry Ford College Foundation.
Official website here: www.foundation.hfcc.edu
What is the revenue of Henry Ford College Foundation?
Henry Ford College Foundation's revenue in 2022 was $3,308,397.
Official website here: www.foundation.hfcc.edu
Who are the executives of Henry Ford College Foundation and what are their salaries?
There 100 volunteers at Henry Ford College Foundation.
Here are 30 key members and their salaries:
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Official website here: www.foundation.hfcc.edu
Where can I find the form 990 for Henry Ford College Foundation?
Henry Ford College Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.foundation.hfcc.edu
Learn more at the official website: www.foundation.hfcc.edu
Mission Statement of Henry Ford College Foundation
The Henry Ford College Foundation, established as a Michigan charitable organization, operates under the umbrella of tax-exempt status as per Internal Revenue Code Section 501(C)(3), qualifying as a public charity under Internal Revenue Code Section 509. This organization's primary mission is to garner charitable support for Henry Ford College. To accomplish this, the Foundation forges durable relationships with influential figures in the business, civic, and community sectors, as well as alumni, corporate and philanthropic foundations, and affluent individuals. By cultivating these connections, the Foundation seeks to bolster the objectives and goals of Henry Ford College, thereby empowering its students to achieve their educational and career aspirations in a rapidly evolving world. The Henry Ford College Foundation is dedicated to nurturing its diverse student population by providing them with essential knowledge, communication skills, and cultural opportunities, thereby preparing them for the dynamic challenges of the modern workplace.
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Impact
July, 2024
The Henry Ford College Foundation's impact is centered around supporting programs and services at Henry Ford College in Dearborn, MI. Specifically, the foundation focuses on providing educational scholarship funds to students. By raising charitable support and building relationships with various constituents, including business leaders, alumni, and philanthropic foundations, the foundation helps fulfill the educational and career aspirations of Henry Ford College students. Through its commitment to providing knowledge, communication skills, and cultural opportunities, the foundation prepares a diverse student population for a rapidly changing world and workplace.
This information is meant to be a general summary of Henry Ford 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: $1,510,246
- Gross Receipts: $8,870,663
Assets and Liabilities:
- Total Assets: $18,566,113
- Total Liabilities: $217,211
- Net Assets: $18,348,902
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Organization Details
Founding Year
1982
Phone
(313) 845-9620Principal Officer
A Reginald Best
Main Address
5101 EVERGREEN ROAD, DEARBORN, MI, 48128
Website
www.foundation.hfcc.eduNTEE Category
Code: B114 - Education
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