Overview
What is Laker Educational Foundation?
The Laker Educational Foundation is a nonprofit organization based in Prior Lake, Minnesota. With a single employee, its primary mission is to foster creativity, innovation, and excellence within the community served by ISD 719. They achieve this by raising financial resources, which are then allocated as grants and scholarships to individuals and organizations that showcase exceptional projects in various educational sectors. These projects often go unfunded by operational budgets within schools. In 2015, the foundation granted a total of $18,743 to such initiatives, carefully selected and evaluated by their teachers. The grants support projects that contribute to enriching the learning experiences within their community.
Official website here: www.lakerfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 70%, earning a Two-Star out of Four Star rating. The Laker Educational Foundation has demonstrated a solid commitment to governance and transparency, with a perfect score for independent board members and several key policies in place, including a conflict of interest and whistleblower policy. The organization effectively documents board meeting minutes and maintains its financial information accessible via its website.
However, despite these strengths in accountability, the foundation faces challenges in its program expense ratio, scoring only 2 out of 25 points. This indicates that a significant portion of its expenses may not be directed towards its programs, which could raise concerns about the efficiency of its resource allocation. The liabilities to assets ratio is reasonable at 45%, suggesting a balanced financial position.
Overall, while the Laker Educational Foundation showcases strong governance practices, potential donors and stakeholders may want to consider the implications of the low program expense ratio when evaluating the foundation's effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Laker Educational Foundation legitimate?
Laker Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laker Educational 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: $667
For more financial information, click here
Official website here: www.lakerfoundation.org
What is the mission statement of Laker Educational Foundation?
The Laker Educational Foundation's mission is to foster creativity, innovation, and excellence by securing financial resources to enhance learning opportunities for individuals within the community served by ISD 719. The organization achieves this by providing grants and scholarships to individuals and organizations demonstrating creativity and excellence in educational areas not typically funded by operational budgets in schools. During 2015, the foundation reviewed grant requests, awarding a total of $18,743. These grants supported creative projects meticulously described by teachers, evaluated against proposed criteria, and aligned with the foundation's mission to enhance learning experiences.
Official website here: www.lakerfoundation.org
Who is the CEO of Laker Educational Foundation?
Richie Kucinski is the President of Laker Educational Foundation.
Official website here: www.lakerfoundation.org
What is the revenue of Laker Educational Foundation?
Laker Educational Foundation's revenue in 2022 was $39,774.
Official website here: www.lakerfoundation.org
Who are the executives of Laker Educational Foundation and what are their salaries?
The average compensation at Laker Educational Foundation during 2022 was $667. There is 1 employee and 50 volunteers at Laker Educational Foundation.
Here are 9 key members and their salaries:
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Official website here: www.lakerfoundation.org
Where can I find the form 990 for Laker Educational Foundation?
Laker Educational Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakerfoundation.org
Learn more at the official website: www.lakerfoundation.org
Mission Statement of Laker Educational Foundation
The Laker Educational Foundation is committed to encouraging creativity, innovation, and excellence in learning within its community. To achieve this goal, the organization raises financial resources aimed at enhancing educational opportunities for individuals residing in, or served by, the ISD 719 community. The foundation fulfills its mission by granting funds to individuals and organizations demonstrating creativity, innovation, and excellence in educational projects. These projects, which often fall outside the scope of operational school budgets, are carefully considered and evaluated based on proposal criteria. During 2015, the Laker Educational Foundation awarded grants totaling $18,743 to various initiatives, further supporting its mission to enrich learning experiences for its community members.
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Impact
August, 2024
The Laker Educational Foundation has a significant impact on the ISD 719 community by encouraging creativity, innovation, and excellence through the provision of grants and scholarships. In 2015 alone, the Foundation awarded grants totaling $18,743 to support projects that enhance learning in educational areas not funded by operational dollars in the schools. These grants support creative efforts and innovative initiatives that ultimately benefit individuals and organizations within the community.
This information is meant to be a general summary of Laker Educational 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: $34,180
- Gross Receipts: $60,741
Assets and Liabilities:
- Total Assets: $377,276
- Total Liabilities: $176,363
- Net Assets: $200,913
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Organization Details
Founding Year
2005
Phone
(952) 226-0063Principal Officer
Richie Kucinski
Main Address
PO BOX 840, PRIOR LAKE, MN, 55372
Website
www.lakerfoundation.orgNTEE Category
Code: B12 - Education
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