Overview
What is Equal Chance For Education?
Equal Chance for Education (ECE) is a nonprofit organization located in Nashville, Tennessee. Their primary mission is to offer college scholarships in partnership with various educational institutions across the state. ECE provides direct financial aid to students, with each scholarship amounting to $6,250. The scholarship recipients and their families are expected to contribute $4,000 towards tuition, and the partner colleges cover the remaining balance with institutional funding, averaging an annual in-kind gift of $21,000 per student. Beyond the financial aid, ECE also provides programming, mentorship, and career guidance to ensure the scholars' academic success and career readiness. Their ultimate goal is to provide an equal opportunity for individuals to achieve the American Dream by completing a college education.
Official website here: www.equalchanceforeducation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Equal Chance For Education has received a commendable score of 81%, which translates into a Three-Star rating. This indicates a solid level of transparency and effectiveness in its operations. The organization particularly excels in the Accountability & Finance category with a score of 74%, reflecting their commitment to responsible financial practices and governance.
One of the standout strengths of Equal Chance For Education is its independent governance, demonstrated by 100% of its board members being independent. This is complemented by a strong performance in program expenses, where 91.25% of their funds are directed towards programs. Additionally, the organization shows no material diversion of assets and has excellent fundraising efficiency, with only $0.05 spent per dollar raised, signaling effective fundraising strategies.
However, despite its strengths, the organization has room for improvement in certain areas, such as Leadership & Adaptability, where it received a lower score of 10%. While the scores in Culture & Community and Leadership demonstrate strong engagement and effective practices, the overall adaptability score indicates a potential need to focus on changing environments and challenges. Overall, Equal Chance For Education showcases a strong commitment to its mission and effective organizational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Equal Chance For Education legitimate?
Equal Chance For Education is a legitimate nonprofit organization registered as a 501(c)(3) entity. Equal Chance For Education 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: $83,125
Professional Fundraising Fees: $0
Other Salaries and Wages: $105,579
For more financial information, click here
Official website here: www.equalchanceforeducation.com
What is the mission statement of Equal Chance For Education?
Equal Chance For Education aims to offer an equal opportunity for individuals to achieve their American dream by completing a college education. They accomplish this by providing direct payment scholarships to educational institutions. The organization collaborates with colleges and universities across Tennessee, offering programming, mentorship, career guidance, and scholarships. The partner colleges offer a negotiated institutional rate for ECE scholars, creating pathways for college persistence. Each scholarship is $6,250, with the ECE scholar and family contributing $4,000 towards tuition. The remaining balance is covered by the partner college, typically through an average annual in-kind gift of $21,000 per student. Beyond the scholarship dollars, ECE supports scholars by creating programming and providing resources to retain and foster career-ready graduates.
Official website here: www.equalchanceforeducation.com
Who is the CEO of Equal Chance For Education?
Molly Haynes is the Executive Di of Equal Chance For Education.
Official website here: www.equalchanceforeducation.com
What is the revenue of Equal Chance For Education?
Equal Chance For Education's revenue in 2022 was $1,797,877.
Official website here: www.equalchanceforeducation.com
Who are the executives of Equal Chance For Education and what are their salaries?
The average compensation at Equal Chance For Education during 2022 was $62,901. There are 3 employees and 109 volunteers at Equal Chance For Education.
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Official website here: www.equalchanceforeducation.com
Where can I find the form 990 for Equal Chance For Education?
Equal Chance For Education's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.equalchanceforeducation.com
Learn more at the official website: www.equalchanceforeducation.com
Mission Statement of Equal Chance For Education
Equal Chance For Education, abbreviated as ECE, is an organization committed to providing an equal opportunity for individuals to achieve their American dream by completing a college education. This is accomplished through the direct provision of scholarships to educational institutions. ECE's mission is to create a level playing field, enabling scholars to complete their college education without being financially burdened.
In partnership with colleges and universities across Tennessee, ECE offers programming, mentorship, career guidance, and scholarships to deserving students. The partner institutions offer negotiated institutional rates for ECE scholars, creating pathways for college persistence. ECE scholarships, amounting to $6,250, are partially funded by the scholar and their family, contributing $4,000 towards tuition fees. The remaining balance is covered by the partner institution, often amounting to an in-kind gift of approximately $21,000 annually per student.
Beyond the monetary support, ECE is dedicated to the long-term success of its scholars. They provide programming and resources to retain and foster career-ready graduates. This holistic approach, encompassing financial aid and personal development, empowers scholars to thrive and realize their full potential, ultimately contributing to a more educated and equitable society.
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Impact
July, 2024
Equal Chance For Education's impact can be seen in the lives of students who are given the opportunity to achieve the American Dream through the completion of a college education. By providing direct payment scholarships to education institutions and partnering with colleges and universities across the state of TN, ECE is creating pathways for college persistence. The support provided, including programming, mentorship, and career guidance, goes beyond just financial assistance, ensuring that scholars are prepared for successful careers after graduation. The average in-kind gift of $21,000 per student per year from partner colleges demonstrates a significant investment in each student's future. By promoting educational equality and supporting students in their academic journey, Equal Chance For Education is making a tangible difference in the lives of individuals and the community as a whole.
This information is meant to be a general summary of Equal Chance For Education. 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: $73
- Gross Receipts: $1,836,573
Assets and Liabilities:
- Total Assets: $309,155
- Total Liabilities: $162,035
- Net Assets: $147,120
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Organization Details
Founding Year
2014
Phone
(713) 208-7595Principal Officer
Molly Haynes
Main Address
73 WHITE BRIDGE RD 103 BOX 351, NASHVILLE, TN, 37205
NTEE Category
Code: B82 - Education
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