Overview
What is St John Lutheran Church Foundation?
St. John Lutheran Church Foundation, based in Owatonna, Minnesota, serves as a nonprofit organization. Their primary focus lies in granting scholarships and charitable contributions, derived from their investment income. The foundation does not consider an applicant's race, creed, religion, or financial status in scholarship selection processes. The organization's mission is to positively impact the community by providing educational opportunities and charitable support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star Rating.
The St John Lutheran Church Foundation has achieved a commendable Three-Star rating, reflecting an overall score of 80%. This rating is based entirely on their Accountability & Finance metrics, which indicates a strong emphasis on responsible financial management. The foundation maintains a perfect score in areas such as independent board member presence and the absence of material diversion of assets.
Strengths of the organization include a fully independent board of 14 members and a high program expense ratio of 97.51%, suggesting that most of their expenditures are directly associated with their mission. Additionally, they have demonstrated transparency and governance through documented board meeting minutes and a clear conflict of interest policy.
While the financial indicators are robust, the rating does not assess other potential areas such as program effectiveness or community impact, which could provide a more comprehensive view of the foundation's overall performance. However, the existing ratings suggest strong governance and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is St John Lutheran Church Foundation legitimate?
St John Lutheran Church Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St John Lutheran Church 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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What is the mission statement of St John Lutheran Church Foundation?
The St John Lutheran Church Foundation's mission is centered around funding scholarships and charitable gifts, derived from their investment income. They accept applications for scholarships from individuals planning to pursue higher education. Notably, the selection process for these scholarships is merit-based, disregarding factors such as race, creed, religion, or financial need of the applicant. This foundation's mission aims to contribute to the education and welfare of individuals in need, through the distribution of scholarships and charitable gifts.
Who is the CEO of St John Lutheran Church Foundation?
David G Lundberg is the President And Director of St John Lutheran Church Foundation.
What is the revenue of St John Lutheran Church Foundation?
St John Lutheran Church Foundation's revenue in 2023 was $31,685.
Who are the executives of St John Lutheran Church Foundation and what are their salaries?
Here are 14 key members and their salaries:
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Where can I find the form 990 for St John Lutheran Church Foundation?
St John Lutheran Church Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of St John Lutheran Church Foundation
St. John Lutheran Church Foundation is a nonprofit organization dedicated to the funding of scholarships and charitable gifts. The source of their financial aid comes from the income generated from their investments. The foundation's mission is to distribute these funds to individuals who are pursuing higher education. It is important to note that the selection process for these scholarships is not influenced by factors such as an applicant's race, creed, religion, or financial situation. The foundation's role is to provide educational opportunities and charitable assistance, leveraging its investment income to make a positive impact.
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Impact
October, 2024
St John Lutheran Church Foundation plays a vital role in supporting the educational aspirations of students in Owatonna, MN, through the funding of scholarships fueled by investment income. By providing financial assistance, the foundation enables applicants to pursue higher education, fostering personal and professional growth within the community.
The selection process for scholarships is inclusive and equitable, as it does not consider race, creed, religion, or financial need. This approach encourages a diverse range of students to apply, ensuring that deserving candidates have access to opportunities that may otherwise be out of reach. Additionally, the foundation engages in charitable gifting, extending its impact beyond just scholarships and nurturing various community needs.
Through its mission, St John Lutheran Church Foundation strengthens the fabric of the community by investing in education and uplifting individuals, ultimately contributing to a more educated and empowered population.
This information is meant to be a general summary of St John Lutheran Church 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 2023.
- Investment Income: $31,685
- Gross Receipts: $31,685
Assets and Liabilities:
- Total Assets: $1,156,745
- Total Liabilities: $0
- Net Assets: $1,156,745
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Organization Details
Founding Year
1982
Phone
(507) 451-8129Principal Officer
David G Lundberg
Main Address
1301 Lincoln Avenue, Owatonna, MN, 55060
NTEE Category
Code: X21 - Religion related
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