Overview
What is Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee?
The Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee is a nonprofit entity based in Billings, Montana. Its main purpose is to support students from Longmont, Colorado, by providing funds for college scholarships and loans through the St. Vrain Valley School District RE-1J. The trustee distributes the fund's earnings annually to the school district, which then decides upon the scholarship recipients. The trustee has the flexibility to offer both scholarships and loans, if deemed necessary, to graduates of the district's high schools, aiming to assist them in their education in non-sectarian schools within Colorado.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 51%, One-Star out of Four Star rating.
The Welker Educational Scholarship & Loan Fund, managed by First Interstate Bank, has received a low rating primarily due to its lack of independent board members and missing key governance policies. With a score of 51%, the organization shows some strengths, such as a solid program expense ratio of 68.06%, indicating a majority of its expenses are directed towards its programs. However, the absence of independent oversight raises concerns about its accountability.
Several critical policies are missing from the organization’s governance framework, including a conflict of interest policy and a whistleblower policy, which are essential for transparency and ethical management. Additionally, the charity's website does not provide essential documents such as its tax forms, which limits public accessibility to important information. These shortcomings significantly affect the charity's overall accountability score.
Despite the challenges highlighted in its governance practices, the organization has demonstrated a good performance in managing liabilities, with a ratio of 0.00%, indicating no liabilities in relation to its assets. Overall, while there are positive aspects to its financial management, the lack of fundamental governance structures detracts from its credibility and effectiveness as a nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee legitimate?
Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee is a legitimate nonprofit organization registered as a 501(c)(3) entity. Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee 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: $21,728
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee?
The Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee's mission is centered around providing financial aid for higher education. Specifically, the trustee allocates funds to the St. Vrain Valley School District RE-1J in Colorado, which in turn, uses these funds to offer scholarships and loans to graduates of its high schools. The scholarship and loan recipients can utilize these funds in non-sectarian schools within the state of Colorado, with the district's board of education having the discretion to determine the number and recipients of these financial aids.
Who is the CEO of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee?
David Stolhand is the Trustee of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee.
What is the revenue of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee?
Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee's revenue in 2022 was $109,086.
Who are the executives of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee and what are their salaries?
There is 1 key member and their salary:
- Compensation: $21,728
- Related: $0
- Other: $0
Where can I find the form 990 for Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee?
Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee
Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee is an entity dedicated to providing financial aid for college-bound students from St. Vrain Valley School District RE-1J in Colorado. Its primary mission is to distribute funds to this school district annually, which can be used to award scholarships, loans, or a combination of both. These financial aids are intended for students who have graduated from the district's high schools and wish to continue their education in non-sectarian schools within the state. By providing these scholarships and loans, Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee aims to support the educational aspirations of local students, thereby contributing to their personal growth and potential success in their chosen fields.
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Impact
October, 2024
The Welker Educational Scholarship & Loan Fund, under the stewardship of First Interstate Bank, plays a pivotal role in supporting students within the St. Vrain Valley School District RE-1J. By providing financial resources specifically designated for college scholarships and loans, this fund directly impacts the educational opportunities available to graduates of the district's high schools.
All net income generated by the fund is annually allocated to the school district's Board of Education, which has the authority to determine scholarship recipients and to grant both scholarships and loans as deemed appropriate. This flexibility ensures that the fund can meet the diverse needs of students pursuing higher education in non-sectarian institutions within Colorado.
By enhancing access to necessary financial support, the Welker Educational Scholarship & Loan Fund fosters educational advancement and empowers students to pursue their collegiate aspirations, significantly contributing to the overall educational landscape in the region.
This information is meant to be a general summary of Welker Educational Scholarship & Loan Fd First Interstate Bank Trustee. 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: $109,086
- Gross Receipts: $249,928
Assets and Liabilities:
- Total Assets: $1,536,439
- Total Liabilities: $0
- Net Assets: $1,536,439
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Organization Details
Founding Year
1969
Phone
(208) 888-1416Principal Officer
David Stolhand
Main Address
PO BOX 30918, BILLINGS, MT, 59116
NTEE Category
Code: B820 - Education
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