Overview
What is Mason Isd Scholarship Foundation?
The Mason Independent School District Scholarship Foundation is a nonprofit organization based in Mason, Texas. Its primary mission is to support and enhance educational functions within the district by granting scholarships to deserving students. During 2022, the foundation awarded a total of $296,375 in scholarships to 39 beneficiaries, representing approximately 63% of the graduating class from Mason High School. The scholarships ranged in value, with the majority being $7,500 each. The foundation's activities are aimed at assisting students in higher learning institutions, contributing significantly to their educational aspirations in Mason County, Texas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (53%)
The Mason Isd Scholarship Foundation has received a low rating of 53%, which translates to a One-Star out of Four Star rating. This score reflects significant concerns regarding its accountability and finance practices. Specifically, the organization has not achieved any independent board members, which is a crucial measure of governance. Additionally, several key policies and website disclosures are missing, indicating potential weaknesses in transparency.
On a positive note, the foundation has demonstrated strong financial management with a program expense ratio of 86.49%, suggesting that a substantial portion of its funds is directed towards its mission. Furthermore, the organization has no material diversion of assets and maintains a favorable liabilities to assets ratio of 0.00%, which is indicative of sound fiscal health.
However, the absence of vital governance policies such as a conflict of interest policy and a whistleblower policy raises concerns about the foundation's operational integrity. The lack of an independent board and missing documentation related to board governance may undermine stakeholder confidence and highlight areas that need improvement for future growth and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Mason Isd Scholarship Foundation legitimate?
Mason Isd Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mason Isd 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:
Executive Compensation: $1,345
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Mason Isd Scholarship Foundation?
The Mason Independent School District Scholarship Foundation's mission is to establish an organization that promotes and supports educational functions and activities by providing scholarships. This foundation aims to assist students in furthering their education by granting scholarships. In 2022, the foundation awarded a total of $296,375 in scholarships to 39 students, representing approximately 63% of the graduating class from Mason High School. The majority of these scholarships were worth $7500 each. The foundation's activities are focused on assisting students in higher learning institutions.
Who is the CEO of Mason Isd Scholarship Foundation?
Chad Lemke is the President of Mason Isd Scholarship Foundation.
What is the revenue of Mason Isd Scholarship Foundation?
Mason Isd Scholarship Foundation's revenue in 2022 was $76,654.
Who are the executives of Mason Isd Scholarship Foundation and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $595
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- Compensation: $750
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Where can I find the form 990 for Mason Isd Scholarship Foundation?
Mason Isd Scholarship Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mason Isd Scholarship Foundation
The Mason Independent School District Scholarship Foundation serves as an organization dedicated to facilitating, encouraging, and aiding educational functions and activities. It achieves this objective by granting scholarships to students within the Mason Independent School District in Texas. The primary mission of this foundation is to provide financial assistance to deserving graduates, enabling them to pursue higher education and further their academic journeys. In 2022, the foundation awarded scholarships totalling $296,375, benefitting 39 students from Mason High School, with the majority of awards amounting to $7500 each.
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Impact
August, 2024
Mason ISD Scholarship Foundation's impact is substantial, as it awarded scholarships totaling $296,375 in 2022. This resulted in 39 scholarships being granted to institutions of higher learning for the benefit of Mason Independent School District graduates. The majority of the awards were for $7500 each, ensuring that financial support was provided to all 39 applicants, which represented approximately 63% of the total graduates of Mason High School in 2022. This support plays a crucial role in helping students pursue further education and achieve their academic goals.
This information is meant to be a general summary of Mason Isd 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: $74,254
- Gross Receipts: $587,821
Assets and Liabilities:
- Total Assets: $6,881,865
- Total Liabilities: $0
- Net Assets: $6,881,865
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Organization Details
Founding Year
2013
Phone
(325) 347-2448Principal Officer
Chad Lemke
Main Address
PO BOX 489, MASON, TX, 76856
NTEE Category
Code: B82 - Education
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