Overview
What is Lorain County Community College Foundation?
Lorain County Community College Foundation is a nonprofit organization situated in Elyria, Ohio. With a mission to enhance the community's quality of life, they invest in key priorities of Lorain County Community College (LCCC), providing support through scholarships and faculty development (education), innovation fund (economic development), cultural programming at the Stocker Arts Center (culture), and campus grants projects (community engagement). The foundation offers scholarships to students enrolled in LCCC and the LCCC University Partnership Program, considering factors like academic success, financial need, and talent. Their award criteria aim to empower individuals, fostering growth opportunities within the community.
Official website here: www.lcccfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Lorain County Community College Foundation has achieved an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The overall score is derived entirely from its accountability and finance metrics, which reflect an exceptional performance in maintaining transparency and responsible financial management.
Key strengths of the Foundation include a fully independent board of trustees and robust oversight of financial activities. With a high program expense ratio of 73.31%, the organization demonstrates its commitment to directing resources toward its mission rather than administrative costs. Additionally, comprehensive policies regarding conflict of interest, whistleblowing, and document retention further highlight the Foundation's dedication to ethical governance.
While the organization has no reported issues with material diversion of assets and maintains sound financial ratios, the data does not indicate any specific areas for improvement. Overall, the Lorain County Community College Foundation stands out as a well-managed nonprofit, effectively serving its community through responsible stewardship of its resources.
This AI summary has been generated from information found on Charity Navigator.
Is Lorain County Community College Foundation legitimate?
Lorain County Community College Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lorain County Community 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $299,988
Professional Fundraising Fees: $22,500
Other Salaries and Wages: $192,644
For more financial information, click here
Official website here: www.lcccfoundation.org
What is the mission statement of Lorain County Community College Foundation?
The Lorain County Community College Foundation's mission is to support the mission and vision of Lorain County Community College (LCCC) by utilizing and assembling resources. This support is primarily directed towards key priorities that have the potential to significantly impact and enhance the community's quality of life. The foundation achieves this by providing assistance in various sectors, including education through scholarships and faculty development, economic growth through an innovation fund, cultural enrichment through the Stocker Arts Center programming, and community projects through campus grants.
Official website here: www.lcccfoundation.org
Who is the CEO of Lorain County Community College Foundation?
Tracy Green is the Director of Lorain County Community College Foundation.
Official website here: www.lcccfoundation.org
What is the revenue of Lorain County Community College Foundation?
Lorain County Community College Foundation's revenue in 2022 was $5,147,930.
Official website here: www.lcccfoundation.org
Who are the executives of Lorain County Community College Foundation and what are their salaries?
There 100 volunteers at Lorain County Community College Foundation.
Here are 67 key members and their salaries:
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Official website here: www.lcccfoundation.org
Where can I find the form 990 for Lorain County Community College Foundation?
Lorain County Community College Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lcccfoundation.org
Learn more at the official website: www.lcccfoundation.org
Mission Statement of Lorain County Community College Foundation
Lorain County Community College Foundation plays a crucial role in supporting the mission and vision of Lorain County Community College (LCCC) by assembling and utilizing resources. The foundation enhances the community's quality of life by investing in key priorities that present the greatest impact and growth opportunities for the people of the community. Specifically, the LCCC Foundation provides support to the four cornerstones of LCCC through scholarships and faculty development (education), innovation fund (economic), support for Stocker Arts Center programming (culture), and support for campus grants projects (community).
By offering scholarships to students of Lorain County Community College and LCCC University Partnership Program, the foundation aids in the educational growth of the community. Awards are based on academic success, financial need, and/or talent, ensuring that deserving students have the opportunity to pursue their education. Furthermore, the foundation supports the economic growth of the community through the innovation fund, investing in projects that have the potential to create jobs and stimulate the local economy.
In addition, the LCCC Foundation contributes to the cultural development of the community by supporting Stoker Arts Center programming. This includes funding for events, exhibits, and workshops that promote artistic expression and appreciation. Lastly, the foundation provides support for campus grants projects, which aim to improve the overall community by addressing various needs and challenges.
In summary, Lorain County Community College Foundation is an essential organization that supports the mission and vision of Lorain County Community College by investing in education, economic growth, culture, and community projects. Through scholarships, innovation fund, arts center programming, and campus grants, the foundation strives to enhance the quality of life for the people of the community.
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Impact
July, 2024
Lorain County Community College Foundation's impact is significant in enhancing the quality of life in the community by supporting the mission and vision of Lorain County Community College (LCCC). Through assembling and utilizing resources, the foundation provides scholarships to students of LCCC and the LCCC University Partnership Program, based on academic success, need, and talent. By investing in key LCCC priorities, such as scholarships and faculty development, the foundation contributes to education, economic growth, cultural enrichment, and community development. This support plays a crucial role in empowering individuals to pursue higher education and achieve their academic goals, ultimately benefiting the community as a whole.
This information is meant to be a general summary of Lorain County Community 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 2022.
- Investment Income: $1,838,007
- Program Service Revenue: $358,304
- Gross Receipts: $15,105,912
Assets and Liabilities:
- Total Assets: $56,305,476
- Total Liabilities: $296,136
- Net Assets: $56,009,340
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INNOVATION FUND REPLENISHMENT INC
Revenue
$358,304
Organization Details
Founding Year
1973
Phone
(440) 366-4039Principal Officer
Tracy Green
Main Address
1005 NORTH ABBE ROAD, ELYRIA, OH, 44035
Website
www.lcccfoundation.orgNTEE Category
Code: B11 - Education
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