Somerset Memorial Scholarship Fund Inc

Charity Navigator Rating: 0 stars (47%)

The Somerset Memorial Scholarship Fund Inc has received a low overall rating from Charity Navigator, indicating significant concerns regarding its financial practices. While the organization scored well in areas such as having a majority independent board and maintaining a whistleblower policy, its effectiveness is undermined by a poor program expense ratio and a high liabilities-to-assets ratio.

Strengths noted include the organization’s commitment to governance, as shown by its independent board structure and the documentation of board meeting minutes. However, the charity's failure to post its tax form on its website raises transparency issues, which are crucial for donor trust and accountability. With a program expense ratio of only 42.63%, it raises questions about how effectively funds are directed toward its intended mission.

In summary, while the Somerset Memorial Scholarship Fund Inc demonstrates some governance strengths, its low financial health rating and lack of transparency present significant limitations. Potential donors should carefully consider these factors before contributing.

This AI summary has been generated from information found on Charity Navigator.

Somerset Memorial Scholarship Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somerset Memorial Scholarship Fund 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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