Overview
What is Lapeer Community Scholarship & Student Loan Fund?
The Lapeer Community Scholarship & Student Loan Fund is a nonprofit organization situated in Lapeer, Michigan. Its primary mission is to assist graduates of Lapeer Community Schools by providing financial aid for their higher education. This aid comes in the form of both scholarships and loans, aiming to alleviate the financial burden associated with advanced studies. The organization has successfully awarded scholarships to thirteen high school graduates, enabling them to pursue their chosen colleges.
Official website here: www.lapeerloanfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star rating.
The Lapeer Community Scholarship & Student Loan Fund has achieved a Three-Star rating, reflecting a solid performance in accountability and finance. The overall score is based entirely on financial metrics, which indicates a focus on operational integrity. The organization has a fully independent board with no material diversion of assets, achieving top scores in those categories.
Despite its strengths in governance and financial management, the organization does have some noted limitations. Specifically, it lacks policies for conflict of interest, whistleblower protection, and document retention and destruction, which are critical for transparency and accountability. Additionally, the absence of the tax form on the nonprofit's website could impact public trust.
On the positive side, the fund demonstrates a strong commitment to its mission, with a high program expense ratio of 94.36%, meaning a significant portion of its resources is directed toward its programs. This focus on maximizing program effectiveness showcases the charity's dedication to serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Lapeer Community Scholarship & Student Loan Fund legitimate?
Lapeer Community Scholarship & Student Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lapeer Community Scholarship & Student Loan Fund 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:
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Official website here: www.lapeerloanfund.org
What is the mission statement of Lapeer Community Scholarship & Student Loan Fund?
The Lapeer Community Scholarship & Student Loan Fund's mission is centered around supporting graduates of Lapeer Community Schools in their pursuit of higher education. They achieve this by providing financial assistance in the form of scholarships and loans. This aid is instrumental in enabling these students to attend the colleges of their choice. The organization's activities have resulted in the distribution of scholarships to thirteen high school graduates, thereby facilitating their advanced studies.
Official website here: www.lapeerloanfund.org
Who is the CEO of Lapeer Community Scholarship & Student Loan Fund?
Arthur R Sieting is the Treasurer of Lapeer Community Scholarship & Student Loan Fund.
Official website here: www.lapeerloanfund.org
What is the revenue of Lapeer Community Scholarship & Student Loan Fund?
Lapeer Community Scholarship & Student Loan Fund's revenue in 2022 was $39,153.
Official website here: www.lapeerloanfund.org
Who are the executives of Lapeer Community Scholarship & Student Loan Fund and what are their salaries?
There 10 volunteers at Lapeer Community Scholarship & Student Loan Fund.
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Official website here: www.lapeerloanfund.org
Where can I find the form 990 for Lapeer Community Scholarship & Student Loan Fund?
Lapeer Community Scholarship & Student Loan Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lapeerloanfund.org
Learn more at the official website: www.lapeerloanfund.org
Mission Statement of Lapeer Community Scholarship & Student Loan Fund
The Lapeer Community Scholarship & Student Loan Fund is committed to aiding graduates of Lapeer Community Schools in their pursuit of higher education. This assistance is provided in the form of both scholarships and loans, aiming to alleviate the financial burden associated with advanced studies. Through this mission, the fund aims to empower these individuals, enabling them to pursue their academic goals and build a solid foundation for their future careers. As of the provided information, thirteen high school graduates have benefited from this initiative, receiving scholarships to attend the colleges of their choice.
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Impact
August, 2024
Lapeer Community Scholarship & Student Loan Fund has had a direct impact on the lives of thirteen high school graduates from Lapeer Community Schools by providing them with scholarships to attend the college of their choice. By offering financial assistance in the form of scholarships and loans, this organization plays a crucial role in supporting local students in pursuing their advanced studies. Overall, the fund contributes to the educational advancement and success of individuals within the community, thereby fostering a brighter future for both the students and the community as a whole.
This information is meant to be a general summary of Lapeer Community Scholarship & Student Loan Fund. 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: $11,276
- Program Service Revenue: $3,477
- Gross Receipts: $39,153
Assets and Liabilities:
- Total Assets: $527,048
- Total Liabilities: $0
- Net Assets: $527,048
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST EARNED ON LOANS
Revenue
$3,477
Organization Details
Founding Year
1959
Principal Officer
Arthur R Sieting
Main Address
250 SECOND ST, LAPEER, MI, 48446
Website
www.lapeerloanfund.orgNTEE Category
Code: B82 - Education
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