Overview
What is Renaissance Scholarships Inc?
Renaissance Scholarships Inc is a nonprofit organization located in Birmingham, Alabama, specifically at 3800 Colonnade Parkway Suite 430. Their primary mission is to offer high-quality educational opportunities to low-income students by collaborating with the most academically rigorous, private K5-12 schools in Alabama. They achieve this goal through a scholarship granting program, ensuring that financially disadvantaged students have access to top-notch education.
Official website here: www.renaissancescholarships.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
Renaissance Scholarships Inc has received a commendable score of 80%, reflecting its strong performance in the Accountability & Finance category. This rating highlights the organization's commitment to transparency and responsible financial management, with an impressive program expense ratio of 98.72%, indicating that nearly all of its funds are directed towards its core mission. The nonprofit also boasts a fully independent board, with all 10 members meeting the independence criteria.
The organization demonstrates excellent practices in financial oversight, having no material diversion of assets and zero liabilities relative to its assets. Additionally, it effectively distributes its tax forms and meeting minutes to the board, showcasing a high level of accountability. The working capital ratio of 4.97 years further underscores its financial stability.
While the overall rating is strong, the score is based solely on the Accountability & Finance beacon, meaning that other aspects such as Programming and Results have not been evaluated. This could limit a comprehensive understanding of the nonprofit's overall impact. However, the available data suggests that Renaissance Scholarships Inc is well-managed and financially sound, effectively utilizing its resources to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Renaissance Scholarships Inc legitimate?
Renaissance Scholarships Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Renaissance Scholarships Inc 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.renaissancescholarships.org
What is the mission statement of Renaissance Scholarships Inc?
Renaissance Scholarships Inc's mission is centered around providing quality educational opportunities to students from low-income backgrounds. They achieve this by collaborating with the most academically rigorous, private K5-12 schools in Alabama. Through a scholarship granting program, they aim to extend these educational possibilities. The organization aims to contribute to the intellectual growth and future prospects of these students, thereby promoting social mobility and equality in education.
Official website here: www.renaissancescholarships.org
Who is the CEO of Renaissance Scholarships Inc?
Joe Mccarty is the President of Renaissance Scholarships Inc.
Official website here: www.renaissancescholarships.org
What is the revenue of Renaissance Scholarships Inc?
Renaissance Scholarships Inc's revenue in 2022 was $1,583,407.
Official website here: www.renaissancescholarships.org
Who are the executives of Renaissance Scholarships Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.renaissancescholarships.org
Where can I find the form 990 for Renaissance Scholarships Inc?
Renaissance Scholarships Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.renaissancescholarships.org
Learn more at the official website: www.renaissancescholarships.org
Mission Statement of Renaissance Scholarships Inc
Renaissance Scholarships Inc, a renowned organization, is committed to providing high-quality education opportunities for low-income students. They accomplish this mission by partnering with the most academically rigorous, private K5-12 schools in Alabama. Through a scholarship granting program, Renaissance Scholarships Inc bridges the gap between financial constraints and exceptional educational opportunities, ensuring that deserving students have access to top-tier private schools. By doing so, the organization is contributing to the development of a well-educated future generation, equipping them with the necessary tools to succeed in their academic and personal lives.
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Impact
July, 2024
Renaissance Scholarships Inc's impact lies in providing high-quality education opportunities to low-income students in Alabama by partnering with academically rigorous private K5-12 schools through a scholarship granting program. Through this initiative, Renaissance Scholarships Inc is able to offer students from underserved communities access to top-tier education that they may not have been able to afford otherwise. This not only empowers these students with the tools and opportunities to excel academically but also opens doors to a brighter future filled with possibilities.
This information is meant to be a general summary of Renaissance Scholarships Inc. 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: $1,108
- Gross Receipts: $1,583,407
Assets and Liabilities:
- Total Assets: $1,990,384
- Total Liabilities: $0
- Net Assets: $1,990,384
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Organization Details
Founding Year
2015
Phone
(205) 259-2060Principal Officer
Joe Mccarty
Main Address
3800 COLONNADE PKWY SUITE 430, BIRMINGHAM, AL, 35243
NTEE Category
Code: B82 - Education
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