Overview
What is Community Of Lancaster Education Group?
Community of Lancaster Education Group (COLEG) is a nonprofit organization based in Lancaster, Minnesota. Its primary mission is to support Lancaster High School graduates by raising funds through contributions and investments. The primary objective is to offer reimbursement for post-secondary tuition expenses. In 2022, COLEG granted nine scholarships totaling $101,000 and paid out $50,875 in tuition reimbursements for prior awards. COLEG's policy is to begin reimbursements following the completion of the first full year of post-secondary studies, which must be accomplished within 13 months of high school graduation. As of the end of 2022, 17 award recipients were eligible for additional reimbursements of up to $168,125. Future awards will depend on applications, investment earnings, and unrestricted contributions. COLEG's sole program service is to provide post-secondary tuition reimbursements to Lancaster High School graduates.
Official website here: www.coleg.org
Is Community Of Lancaster Education Group legitimate?
Community Of Lancaster Education Group is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Of Lancaster Education Group 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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Official website here: www.coleg.org
What is the mission statement of Community Of Lancaster Education Group?
The Community of Lancaster Education Group's mission is centered around raising funds through contributions and investments. The primary objective of these funds is to offer post-secondary tuition reimbursements to graduates of Lancaster High School. The group aims to provide financial assistance to a specified number of students, with the policy of beginning reimbursements upon successful completion of the first full year of post-secondary studies. As of the end of 2022, there were 17 award recipients eligible for additional reimbursements. Future awards depend on the number of applications, projected investment earnings, and unrestricted contributions. The group's sole program service is this tuition reimbursement program.
Official website here: www.coleg.org
Who is the CEO of Community Of Lancaster Education Group?
Shelly Westerberg is the President of Community Of Lancaster Education Group.
Official website here: www.coleg.org
What is the revenue of Community Of Lancaster Education Group?
Community Of Lancaster Education Group's revenue in 2022 was $103,705.
Official website here: www.coleg.org
Who are the executives of Community Of Lancaster Education Group and what are their salaries?
There 20 volunteers at Community Of Lancaster Education Group.
Here are 4 key members and their salaries:
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Official website here: www.coleg.org
Where can I find the form 990 for Community Of Lancaster Education Group?
Community Of Lancaster Education Group's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.coleg.org
Learn more at the official website: www.coleg.org
Mission Statement of Community Of Lancaster Education Group
The Community of Lancaster Education Group, often referred to as COLEG, is a non-profit organization with a singular mission. Established with the purpose of supporting the educational aspirations of Lancaster High School graduates from Minnesota Independent School District #356, COLEG raises funds through contributions and investments. The primary objective of these funds is to reimburse the post-secondary tuition expenses of these graduates. COLEG's mission is to provide a financial lifeline, enabling these young individuals to pursue their higher education without the burden of substantial tuition fees. The non-profit follows a policy of initiating reimbursements upon the successful completion of the first full year of post-secondary studies, which should ideally be accomplished within 13 months of high school graduation. As of the end of 2022, 17 award recipients were eligible to receive additional reimbursements, with future awards contingent on applications, projected investment earnings, and unrestricted contributions.
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Impact
October, 2024
The Community Of Lancaster Education Group (COLEG) has made a significant impact on the educational landscape for graduates of Lancaster High School in Minnesota. By raising funds through contributions and investments, COLEG is dedicated to easing the financial burden of higher education for these graduates. In 2022 alone, COLEG awarded nine scholarships totaling $101,000, which reflects a strong commitment to supporting local students in their academic pursuits.
COLEG’s reimbursement program for post-secondary tuition expenses ensures that graduates receive financial assistance upon successful completion of their first full year of studies. This structured approach not only encourages students to commit to their education but also rewards their hard work and dedication. As of the end of 2022, COLEG had 17 eligible award recipients poised to receive up to $168,125 in additional reimbursements, showcasing the ongoing support available to these students.
The positive effects of COLEG’s initiatives are far-reaching, as they foster a community culture that values education and empowers young individuals. By focusing exclusively on the reimbursement of tuition expenses, COLEG plays a crucial role in promoting access to higher education and ensuring that Lancaster High School graduates can pursue their academic and career goals without being hindered by financial constraints. The continued efforts of COLEG in 2023 and beyond will likely influence even more graduates, further enhancing educational opportunities in the Lancaster community.
This information is meant to be a general summary of Community Of Lancaster Education Group. 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: $75,745
- Gross Receipts: $103,705
Assets and Liabilities:
- Total Assets: $1,033,487
- Total Liabilities: $192,625
- Net Assets: $840,862
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Organization Details
Founding Year
2001
Phone
(218) 843-1265Principal Officer
Shelly Westerberg
Main Address
PO Box 74, Lancaster, MN, 56735
Website
www.coleg.orgNTEE Category
Code: B82 - Education
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