Overview
What is Fergus Area College Foundation?
The Fergus Area College Foundation is a charitable organization based in Fergus Falls, Minnesota. Situated at 1414 College Way, this nonprofit is dedicated to supporting the Minnesota State Community and Technical College (MSCTC) in Fergus Falls. Their primary mission is to provide financial assistance and advocacy for the institution's growth and development. Through scholarships, the Foundation helps MSCTC students cover their educational expenses, with awards ranging from $500 to $5,000. This philanthropic organization plays a crucial role in fostering the academic success of MSCTC students.
Official website here: www.facfmstate.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
Fergus Area College Foundation has received a Three-Star rating from Charity Navigator, with a focus on its accountability and finance metrics. The foundation scored 80% overall, reflecting strong performance in areas such as board independence, financial oversight, and the absence of material diversion of assets. The foundation boasts a fully independent board and effectively manages its liabilities, indicating a sound financial standing.
Despite its strengths, the foundation has room for improvement, particularly regarding its whistleblower and document retention policies, which are currently missing. Additionally, while the program expense ratio is commendable, it could be enhanced, as it currently stands at 63.25%, suggesting that a larger portion of expenses could be directed toward programmatic activities.
Overall, the Fergus Area College Foundation demonstrates a solid commitment to financial accountability and governance, earning it a respectable rating. Continued focus on improving its governance policies will further strengthen its standing amongst donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Fergus Area College Foundation legitimate?
Fergus Area College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fergus Area College 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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Official website here: www.facfmstate.org
What is the mission statement of Fergus Area College Foundation?
The Fergus Area College Foundation, a charitable organization, is dedicated to providing financial resources and advocacy for the development and advancement of Minnesota State Community and Technical College (MSCTC) in Fergus Falls. Its mission is to support the college financially and advocate for its growth. The foundation offers scholarships to MSCTC students to help cover their educational expenses, with awards ranging from $500 to $5000.
Official website here: www.facfmstate.org
Who is the CEO of Fergus Area College Foundation?
Lanny Hendrickson is the Treasurer of Fergus Area College Foundation.
Official website here: www.facfmstate.org
What is the revenue of Fergus Area College Foundation?
Fergus Area College Foundation's revenue in 2023 was $636,942.
Official website here: www.facfmstate.org
Who are the executives of Fergus Area College Foundation and what are their salaries?
There 65 volunteers at Fergus Area College Foundation.
Here are 11 key members and their salaries:
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Official website here: www.facfmstate.org
Where can I find the form 990 for Fergus Area College Foundation?
Fergus Area College Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.facfmstate.org
Learn more at the official website: www.facfmstate.org
Mission Statement of Fergus Area College Foundation
The Fergus Area College Foundation, a charitable organization, is dedicated to providing financial resources and advocacy for the development and advancement of Minnesota State Community and Technical College (MSCTC) in Fergus Falls. Their mission is to support the college financially and through advocacy, aiming to foster its growth and progress. The foundation offers scholarships to MSCTC students to help alleviate their educational expenses. These scholarships range from $500 to $5,000, providing valuable financial assistance to students pursuing their education.
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Impact
July, 2024
Fergus Area College Foundation's impact is significant in providing financial resources and advocacy for the development and advancement of Minnesota State Community and Technical College, Fergus Falls. Through scholarships provided to MSCTC students, the foundation helps defray their educational expenses, with awards ranging from $500 to $5000. This support plays a crucial role in enabling students to access higher education and advance their academic and career goals.
This information is meant to be a general summary of Fergus Area College 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: $242,344
- Gross Receipts: $636,942
Assets and Liabilities:
- Total Assets: $7,038,384
- Total Liabilities: $0
- Net Assets: $7,038,384
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Organization Details
Founding Year
1966
Phone
(218) 739-1514Principal Officer
Lanny Hendrickson
Main Address
1414 COLLEGE WAY, FERGUS FALLS, MN, 56537
Website
www.facfmstate.orgNTEE Category
Code: B41I - Education
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