Overview
What is Barr-Reeve Scholarship Foundation?
The Barr-Reeve Scholarship Foundation is a nonprofit organization situated in Montgomery, Indiana (PO Box 25). Its sole mission is to assist Barr-Reeve High School graduates and previous alumni in managing college expenses, providing scholarships for students during their sophomore, junior, and senior years. Moreover, the foundation also offers scholarships to elementary students by contributing to their 529 savings accounts, which will subsequently be utilized for their future college-related expenses. The organization's resources and expenditures are entirely dedicated to fulfilling this purpose.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Barr-Reeve Scholarship Foundation has earned a Three-Star rating from Charity Navigator, reflecting a score of 77% based on its accountability and finance metrics. This score indicates a strong performance in several key areas, particularly in governance, where the foundation boasts a fully independent board and no material diversion of assets. The organization also has a high program expense ratio of 89.95%, demonstrating a commitment to directing funds towards its mission.
However, the foundation has some deficiencies that impact its overall rating. Notably, it lacks a whistleblower policy and a document retention and destruction policy, both of which are considered best practices in nonprofit governance. Additionally, the foundation does not maintain documented board meeting minutes, which detracts from transparency.
Overall, while the Barr-Reeve Scholarship Foundation shows strong financial health and governance, addressing the noted shortcomings could further enhance its accountability and strengthen donor trust. The combination of a robust board structure and effective fund allocation presents a solid foundation for continued impact in its scholarship initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Barr-Reeve Scholarship Foundation legitimate?
Barr-Reeve Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Barr-Reeve 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.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
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What is the mission statement of Barr-Reeve Scholarship Foundation?
The Barr-Reeve Scholarship Foundation's mission is centered around gathering funds and donations to offer scholarships to deserving individuals. This includes high school graduating seniors in their college years, as well as previous graduates, and even elementary students with 529 savings accounts, all intended for future college expenses. The organization's sole purpose is to aid Barr-Reeve students in managing their college costs, with all revenue and expenditures directed towards this noble cause.
Who is the CEO of Barr-Reeve Scholarship Foundation?
Charles A Kavanaugh is the President of Barr-Reeve Scholarship Foundation.
What is the revenue of Barr-Reeve Scholarship Foundation?
Barr-Reeve Scholarship Foundation's revenue in 2022 was $95,299.
Who are the executives of Barr-Reeve Scholarship Foundation and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Barr-Reeve Scholarship Foundation?
Barr-Reeve Scholarship Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Barr-Reeve Scholarship Foundation
The Barr-Reeve Scholarship Foundation's mission is centered around collecting funds and donations with the primary objective of granting scholarships to graduating high school seniors in their college years. This nonprofit organization extends its scholarship aid to previous graduates as well, supporting them during their sophomore, junior, and senior years of higher education. Moreover, the Barr-Reeve Scholarship Foundation extends its financial assistance to elementary students by awarding scholarships to those who have deposited funds into their 529 savings accounts, which are specifically earmarked for future college expenses. The foundation meticulously manages all its revenue and expenses, ensuring that every penny contributes to achieving its sole purpose: assisting Barr-Reeve students in overcoming the financial burden of higher education.
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Impact
October, 2024
The Barr-Reeve Scholarship Foundation significantly impacts the educational landscape by providing financial support to Barr-Reeve students at various stages of their academic journeys. By securing funds and donations, the foundation offers scholarships to recent high school graduates, as well as to former students pursuing their college degrees in their sophomore, junior, and senior years. This not only alleviates the financial burdens associated with higher education but also encourages academic persistence and achievement.
In addition to assisting high school graduates, the foundation recognizes the importance of early investment in education by awarding scholarships to elementary students. These funds are deposited into 529 savings accounts, ensuring that young students have a dedicated source of financial support for their future college expenses.
By dedicating all its resources solely to supporting Barr-Reeve students, the foundation fosters a culture of educational advancement and empowers individuals to pursue their academic goals without the overwhelming concern of financial constraints. This targeted mission enhances access to higher education, ultimately contributing to the overall growth and development of the community.
This information is meant to be a general summary of Barr-Reeve 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 2022.
- Investment Income: $9,353
- Gross Receipts: $108,182
Assets and Liabilities:
- Total Assets: $673,963
- Total Liabilities: $0
- Net Assets: $673,963
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Organization Details
Founding Year
1988
Phone
(812) 486-3265Principal Officer
Charles A Kavanaugh
Main Address
PO BOX 25, MONTGOMERY, IN, 47558
NTEE Category
Code: B99 - Education
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