Overview
What is Majestic Education Foundation Inc?
Majestic Education Foundation Inc, based on the information provided, is a nonprofit organization with a commendable mission. Their primary focus is on recognizing and supporting academic excellence by granting college scholarships to outstanding students. Having already awarded three scholarships to deserving individuals, they demonstrate a strong commitment to education and merit. Additionally, the foundation welcomes financial contributions from individuals and organizations, further underscoring their dedication to their cause.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating indicates that while the Majestic Education Foundation Inc demonstrates some strong organizational practices, there are significant areas for improvement, particularly in governance and transparency.
The foundation scores well in areas such as having a majority independent board and maintaining a favorable liabilities to assets ratio. Additionally, it has a perfect program expense ratio, showing that all expenses are directed towards its programs. However, it faces challenges in transparency, as it does not have its website listed on its tax form, nor does it have several key policies, including a conflict of interest policy and a whistleblower policy.
The absence of these policies and the lack of online availability of important documents may hinder stakeholder confidence. The overall rating reflects a need for the Majestic Education Foundation Inc to enhance its governance practices and increase transparency to foster greater trust among donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Majestic Education Foundation Inc legitimate?
Majestic Education Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Majestic Education Foundation Inc 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
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What is the mission statement of Majestic Education Foundation Inc?
The Majestic Education Foundation's mission is centered around providing college scholarships to high-achieving students. This charitable organization has already honored three deserving individuals with these scholarships. Furthermore, it welcomes donations to support its scholarship program. In essence, the foundation serves as a beacon of educational assistance for promising students, empowering them to pursue higher education.
Who is the CEO of Majestic Education Foundation Inc?
Edward Chapman is the President of Majestic Education Foundation Inc.
What is the revenue of Majestic Education Foundation Inc?
Majestic Education Foundation Inc's revenue in 2023 was $3,998.
Who are the executives of Majestic Education Foundation Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Majestic Education Foundation Inc?
Majestic Education Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Majestic Education Foundation Inc
Majestic Education Foundation, a nonprofit organization, is committed to recognizing academic excellence by awarding college scholarships to high-achieving students. The foundation has demonstrated its dedication to this mission by granting scholarships to three deserving individuals thus far. Besides offering financial aid, Majestic Education Foundation also encourages support through donations.
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Impact
August, 2024
Majestic Education Foundation Inc's impact lies in their dedication to awarding college scholarships to high achievers. This effort directly contributes to empowering deserving students in Detroit, MI, by providing them with the financial support they need to pursue higher education. So far, the foundation has successfully granted three scholarships to deserving individuals, demonstrating their commitment to fostering academic excellence and opportunities for students in the community. Additionally, the foundation's acceptance of donations further expands their capacity to support more students in their pursuit of higher education, ultimately making a tangible difference in the lives of individuals seeking to enhance their academic and career prospects.
This information is meant to be a general summary of Majestic Education Foundation Inc. 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.
- Gross Receipts: $3,998
Assets and Liabilities:
- Total Assets: $5,818
- Total Liabilities: $0
- Net Assets: $5,818
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Organization Details
Phone
(313) 834-5597Principal Officer
Edward Chapman
Main Address
5040 JOY ROAD, DETROIT, MI, 482042296
NTEE Category
Code: B90Z - Education
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