Overview
What is Lake Michigan College Foundation?
Lake Michigan College Foundation is a charitable organization, headquartered in Benton Harbor, Michigan, specifically at 2755 East Napier Avenue. Its primary mission is to raise funds to support Lake Michigan College and its students. The foundation achieves this by soliciting, receiving, and managing all private contributions. Through its efforts, scholarships have been awarded to numerous students, and financial assistance has been provided to various college programs. The Lake Michigan College Foundation serves as a vital source of support for the educational institution and its learners.
Official website here: www.lakemichigancollege.edu/community
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Lake Michigan College Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in Accountability and Finance. With a high score in this category, the foundation demonstrates effective governance and transparency practices, which are crucial for donor trust and engagement. The organization boasts an independent board with 90% of its members being independent, ensuring diverse oversight.
Strengths include a solid program expense ratio of 87.08%, indicating that a significant portion of its funding is directed towards programmatic activities rather than administrative costs. The foundation excels in maintaining rigorous financial controls, as evidenced by its high scores in areas like audit oversight and the absence of material diversion of assets. Additionally, the foundation has implemented key policies, such as conflict of interest and document retention.
However, the organization has been noted for lacking a Whistleblower Policy, which has resulted in a lower score in that specific area. While this is a limitation, it does not overshadow the foundation's overall strong financial management and commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Michigan College Foundation legitimate?
Lake Michigan College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Michigan 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lakemichigancollege.edu/community
What is the mission statement of Lake Michigan College Foundation?
The Lake Michigan College Foundation's mission is centered around raising funds to support Lake Michigan College and its students. As the primary fundraising organization for the college, they are responsible for soliciting, receiving, and managing all private gifts. Their main objective is to contribute financially to the institution and its students, aiming to provide various scholarships and support for college programs. The foundation plays a crucial role in enhancing the educational experience for students by contributing to their financial needs.
Official website here: www.lakemichigancollege.edu/community
Who is the CEO of Lake Michigan College Foundation?
Kelli Hahn is the Director/College President of Lake Michigan College Foundation.
Official website here: www.lakemichigancollege.edu/community
What is the revenue of Lake Michigan College Foundation?
Lake Michigan College Foundation's revenue in 2022 was $2,877,330.
Official website here: www.lakemichigancollege.edu/community
Who are the executives of Lake Michigan College Foundation and what are their salaries?
There 10 volunteers at Lake Michigan College Foundation.
Here are 28 key members and their salaries:
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Official website here: www.lakemichigancollege.edu/community
Where can I find the form 990 for Lake Michigan College Foundation?
Lake Michigan College Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakemichigancollege.edu/community
Learn more at the official website: www.lakemichigancollege.edu/community
Mission Statement of Lake Michigan College Foundation
The Lake Michigan College Foundation, serving as the primary fundraising organization for Lake Michigan College, is devoted to raising funds in support of the institution and its students. Its mission involves soliciting, receiving, and managing all private gifts aimed at bolstering Lake Michigan College and its student body. The foundation plays a crucial role in providing financial assistance to students through scholarships and contributing to various college programs. By fulfilling its mission, the Lake Michigan College Foundation contributes significantly to the success and growth of the college and its students.
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Impact
July, 2024
Lake Michigan College Foundation's impact lies in its unwavering support for Lake Michigan College and its students. By raising funds through various means, the Foundation plays a crucial role in providing scholarships to deserving students, enabling them to pursue their academic goals without financial barriers. Additionally, the Foundation's contributions help in sustaining and enhancing various college programs, ensuring a comprehensive and enriching educational experience for all students. Through its dedicated efforts, the Foundation actively fosters a culture of academic excellence and opportunity within the college community.
This information is meant to be a general summary of Lake Michigan 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: $2,345,848
- Gross Receipts: $8,235,620
Assets and Liabilities:
- Total Assets: $15,632,753
- Total Liabilities: $1,313,463
- Net Assets: $14,319,290
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Organization Details
Founding Year
1986
Phone
(616) 927-8100Principal Officer
Kelli Hahn
Main Address
2755 EAST NAPIER AVENUE, BENTON HARBOR, MI, 49022
NTEE Category
Code: B42 - Education
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