Overview
What is The Academy Opportunity Scholarship Fund?
The Academy Opportunity Scholarship Fund is a nonprofit organization situated in Norman, Oklahoma, specifically at 222 E Eufaula Street Ste 120. Their primary mission is to raise donations and provide scholarships for secondary education, particularly for qualified income families. This fund falls under the State of Oklahoma's Tax Credit Opportunity Program for private school scholarships. Their core activity involves channeling funding towards secondary education scholarships for eligible students attending private schools.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 57%, One-Star out of Four Stars
The Academy Opportunity Scholarship Fund holds a score of 57% on Charity Navigator, reflecting significant concerns regarding its governance and accountability practices. Notably, the organization has no independent board members, which raises questions about its oversight and decision-making processes. While it demonstrates a strong program expense ratio of 99.57%, indicating that a large majority of its funds are directed towards its mission, the absence of key governance documents such as meeting minutes and a missing whistleblower policy detracts from its overall accountability.
The fund also faces issues with transparency, as it lacks a website listed on its tax form and has not posted important documents like its tax forms on its site. This lack of accessibility and clear communication may hinder potential donors' confidence in the organization. However, it is commendable that there are no material diversions of assets, showing that the organization is responsible in its financial management.
Despite its strong emphasis on program expenses, the overall accountability and governance weaknesses highlighted by its low score indicate a need for significant improvements. For potential donors or supporters, these factors should be carefully considered when evaluating the organization’s reliability and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Academy Opportunity Scholarship Fund legitimate?
The Academy Opportunity Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Academy Opportunity Scholarship Fund 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
For more financial information, click here
What is the mission statement of The Academy Opportunity Scholarship Fund?
The Academy Opportunity Scholarship Fund's mission is centered around raising donations and providing scholarships for secondary education. This fund specifically focuses on supporting students attending private secondary schools. Their activities incorporate a state tax credit opportunity fund program, which offers scholarships for eligible income families. The objective of this fund is to make private secondary education more accessible for these families.
Who is the CEO of The Academy Opportunity Scholarship Fund?
James C Stafford is the President of The Academy Opportunity Scholarship Fund.
What is the revenue of The Academy Opportunity Scholarship Fund?
The Academy Opportunity Scholarship Fund's revenue in 2022 was $122,372.
Who are the executives of The Academy Opportunity Scholarship Fund and what are their salaries?
There 1 volunteer at The Academy Opportunity Scholarship Fund.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Academy Opportunity Scholarship Fund?
The Academy Opportunity Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Academy Opportunity Scholarship Fund
The Academy Opportunity Scholarship Fund is dedicated to raising funds and providing scholarships for secondary education. Their mission is centered around offering financial aid to students pursuing education in private secondary schools. This program includes the State of Oklahoma Tax Credit Opportunity Fund, which specifically targets qualified income families, providing them with the opportunity to attend private schools. The organization aims to make high-quality education accessible to a wider range of students, thereby empowering them to pursue their academic goals.
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Impact
October, 2024
The Academy Opportunity Scholarship Fund significantly impacts secondary education by providing scholarships for private school students from qualified income families. This initiative democratizes access to quality education, enabling families to choose educational options that best suit their children's needs.
By raising donations and funding scholarships, the program not only alleviates the financial burden on low- and middle-income families but also supports a more inclusive educational landscape. The program is linked to the Oklahoma Tax Credit Opportunity Fund, allowing donors to contribute to scholarships while benefiting from state tax credits. This collaborative approach amplifies the resources available for educational enhancements, fostering a more equitable environment for students in Norman, OK, and beyond.
By opening doors to private secondary education, the Academy Opportunity Scholarship Fund empowers students, enriches their academic experiences, and contributes to their long-term success.
This information is meant to be a general summary of The Academy Opportunity Scholarship Fund. 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.
- Gross Receipts: $122,372
Assets and Liabilities:
- Total Assets: $211,494
- Total Liabilities: $2,667
- Net Assets: $208,827
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Organization Details
Founding Year
2012
Phone
(405) 928-7061Principal Officer
James C Stafford
Main Address
222 E EUFAULA STREET Ste 120, NORMAN, OK, 73069
NTEE Category
Code: B82 - Education
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