Overview
What is The Ontonagon Area Scholarship Foundation?
The Ontonagon Area Scholarship Foundation is a devoted nonprofit organization situated in an undisclosed location. Their primary mission is to support local high school graduates in their educational pursuits by offering scholarship programs. These scholarships aim to alleviate financial burdens, enabling recipients to continue their education beyond secondary school. The foundation's activities are focused on providing financial assistance to deserving students, thereby contributing to their long-term academic growth and success.
Official website here: www.oasfpromise.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star rating)
The Ontonagon Area Scholarship Foundation has earned a three-star rating, indicating a solid performance in accountability and finance. The overall score reflects its strong governance, characterized by a fully independent board of directors, which received full marks. Additionally, the organization shows no material diversion of assets, underscoring its commitment to financial integrity.
Despite its strengths, there are notable limitations regarding the foundation's policies. Specifically, it lacks essential policies such as conflict of interest, whistleblower, and document retention and destruction policies, which resulted in low scores in those areas. This absence raises concerns about organizational transparency and risk management, which are critical for building trust with stakeholders.
On the positive side, the foundation demonstrates a strong program expense ratio of 71%, indicating a significant portion of its resources is directed towards its mission. This focus on program spending reflects the organization's dedication to supporting scholarships for students in the Ontonagon area, although addressing its policy gaps could further enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is The Ontonagon Area Scholarship Foundation legitimate?
The Ontonagon Area Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ontonagon Area Scholarship 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.
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Official website here: www.oasfpromise.org
What is the mission statement of The Ontonagon Area Scholarship Foundation?
The Ontonagon Area Scholarship Foundation's mission is centered around providing financial aid in the form of scholarships to high school graduates, enabling them to further their education. By doing so, the foundation aims to contribute to the continuation of their academic journey and potentially shape their future prospects. The foundation serves as a crucial supporter, offering financial assistance to deserving individuals, thereby fostering opportunities for higher education.
Official website here: www.oasfpromise.org
What is the revenue of The Ontonagon Area Scholarship Foundation?
The Ontonagon Area Scholarship Foundation's revenue in 2024 was $240,077.
Official website here: www.oasfpromise.org
Who are the executives of The Ontonagon Area Scholarship Foundation and what are their salaries?
Here are 15 key members and their salaries:
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Official website here: www.oasfpromise.org
Where can I find the form 990 for The Ontonagon Area Scholarship Foundation?
The Ontonagon Area Scholarship Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.oasfpromise.org
Learn more at the official website: www.oasfpromise.org
Mission Statement of The Ontonagon Area Scholarship Foundation
The Ontonagon Area Scholarship Foundation, as its name suggests, is committed to a noble mission. This mission revolves around providing financial aid in the form of scholarships to high school graduates in the area. The foundation's primary objective is to empower these young individuals by enabling them to continue their education beyond high school. By offering these scholarships, the Ontonagon Area Scholarship Foundation plays a vital role in fostering the growth and development of the local community's future leaders. The foundation's activities are centered around this mission, aiming to bridge the financial gap that often prevents promising students from pursuing higher education.
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Impact
August, 2024
The Ontonagon Area Scholarship Foundation's impact can be seen in the tangible support it provides to area high school graduates pursuing higher education. By offering scholarships, the foundation eases the financial burden on these students, making it more feasible for them to continue their education and achieve their academic ambitions. This direct assistance enables talented individuals in the community to access educational opportunities that may have otherwise been out of reach. Through its commitment to supporting the educational pursuits of local students, the Ontonagon Area Scholarship Foundation plays a significant role in fostering academic advancement and empowering the next generation to reach their full potential.
This information is meant to be a general summary of The Ontonagon Area Scholarship 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 2024.
- Investment Income: $55,592
- Gross Receipts: $240,077
Assets and Liabilities:
- Total Assets: $1,582,764
- Total Liabilities: $0
- Net Assets: $1,582,764
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Organization Details
Founding Year
1984
Principal Officer
Meredith Strong
Website
www.oasfpromise.orgNTEE Category
Code: B82 - Education
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