Overview
What is Richard U Light Foundation?
The Richard U Light Foundation, located in Kalamazoo, Michigan, is a nonprofit organization with a mission to foster education and offer financial aid to deserving individuals. Specifically, they support young men and women who are eager to learn the Chinese, Japanese, or Korean languages by funding foreign study fellowships. Based at 136 E Michigan Ave 800, the foundation strives to make higher education accessible to those in financial need, contributing to the cultivation of global understanding and cultural exchange.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
The Richard U Light Foundation has received a low rating of 53%, corresponding to a One-Star designation, primarily due to concerns regarding accountability and finance. While the organization shows a commendable program expense ratio of 99.02%, indicating that the vast majority of its funds are directed towards its programs, it falls short in several governance and transparency areas.
The foundation has only 33% independent board members and lacks critical policies such as conflict of interest and whistleblower protections, which are essential for maintaining public trust and accountability. Additionally, the website is missing key documents, including the tax form and a policy for document retention, which further detracts from its overall score.
While the organization demonstrates financial responsibility with no liabilities and a strong commitment to its programs, the absence of independent oversight and essential governance policies raises concerns. Continued improvements in these areas could enhance the foundation's credibility and overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Richard U Light Foundation legitimate?
Richard U Light Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richard U Light 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: $33,623
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Richard U Light Foundation?
The Richard U Light Foundation's mission is centered around promoting education for young men and women. The organization provides financial aid to support those in need, enabling them to pursue their educational goals. This mission is aimed at fostering a more educated society, ensuring equal opportunities for all, regardless of their financial circumstances. Furthermore, the foundation supports foreign study fellowships for students learning Chinese, Japanese, or Korean languages at Yale University.
Who is the CEO of Richard U Light Foundation?
Stephen Denenfeld is the Vp/Treasurer of Richard U Light Foundation.
What is the revenue of Richard U Light Foundation?
Richard U Light Foundation's revenue in 2023 was $18,781.
Who are the executives of Richard U Light Foundation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $15,731
- Related: $0
- Other: $0
- Compensation: $17,893
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Richard U Light Foundation?
Richard U Light Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Richard U Light Foundation
The Richard U Light Foundation, named after its benefactor, is dedicated to promoting the education of young men and women. Its primary mission is to provide financial assistance to individuals in need, enabling them to pursue their education. By doing so, the foundation aims to empower these individuals, providing them with the tools necessary to build a better future. One of the ways the Richard U Light Foundation achieves this goal is by supporting foreign study fellowships for students learning Chinese, Japanese, or Korean languages at Yale University. This initiative not only broadens the students' cultural horizons but also equips them with valuable language skills, potentially opening up a wealth of opportunities. Overall, the Richard U Light Foundation's mission is to foster education and empower individuals, contributing to a more educated and diverse society.
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Impact
August, 2024
The Richard U Light Foundation has a significant impact on promoting education among young men and women and providing financial assistance to those in need to pursue their educational goals. Specifically, the foundation supports foreign study fellowships for students learning Chinese, Japanese, or Korean languages at Yale University. By offering this assistance, the foundation is helping to bridge educational gaps and empower individuals to access quality education opportunities. Through their focus on education, the Richard U Light Foundation is enabling deserving individuals to reach their full potential and achieve academic success.
This information is meant to be a general summary of Richard U Light 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 2023.
- Investment Income: $18,781
- Gross Receipts: $18,781
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1982
Phone
(269) 330-4419Principal Officer
Stephen Denenfeld
Main Address
136 E MICHIGAN AVE 800, KALAMAZOO, MI, 49007
NTEE Category
Code: B820 - Education
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