Overview
What is Minnesota Private College Fund?
The Minnesota Private College Fund is a distinguished nonprofit organization situated in St. Paul, Minnesota. Its primary mission is to distribute financial aid to 17 private colleges within the state, supporting both the institutions and their students. This financial assistance takes the form of operating funds for the colleges and scholarships for enrolled students. To achieve this, the fund actively seeks philanthropic contributions from corporations, foundations, and other entities. Each member college contributes annual dues, covering the fund's administrative and operational expenses. The Minnesota Private College Fund plays a vital role in addressing the shared needs of its members, ensuring the continued success of its associated colleges and the students they educate.
Official website here: www.mnprivatecolleges.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Minnesota Private College Fund holds a strong Four-Star rating from Charity Navigator, reflecting a high level of accountability and financial health. With an impressive score of 96 in the Accountability & Finance category, the organization demonstrates robust governance practices, including a fully independent board and comprehensive oversight of financial statements.
The charity's strengths are further highlighted by its commitment to transparency and ethical practices, evidenced by having policies in place for conflicts of interest, whistleblower protections, and document retention. Additionally, the organization maintains a low liabilities-to-assets ratio of 13.62% and an excellent program expense ratio of 86.38%, ensuring that a significant portion of its resources are directed toward its mission.
While the ratings and data reflect a well-managed organization, it is always beneficial for potential donors and stakeholders to consider additional qualitative factors, such as the impact of the charity's programs and its overall mission alignment with personal values.
This AI summary has been generated from information found on Charity Navigator.
Is Minnesota Private College Fund legitimate?
Minnesota Private College Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minnesota Private College Fund 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: $0
Professional Fundraising Fees: $33,000
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mnprivatecolleges.org
What is the mission statement of Minnesota Private College Fund?
The Minnesota Private College Fund serves the shared needs of its member institutions by proactively seeking philanthropic support from corporations, foundations, and other entities. This philanthropic support benefits the member colleges and universities, as well as the students they educate. The fund distributes this financial support directly to the 17 member institutions in the form of general operating funds and to students enrolled in these institutions through scholarship programs. Each member institution pays annual dues to the Minnesota Private College Fund, which covers all its general overhead, fundraising, and administrative expenses.
Official website here: www.mnprivatecolleges.org
Who is the CEO of Minnesota Private College Fund?
Paul D Cerkvenik is the Director of Minnesota Private College Fund. The CEO's salary of Minnesota Private College Fund is $0 and their total compensation is $444,969.
Official website here: www.mnprivatecolleges.org
What is the revenue of Minnesota Private College Fund?
Minnesota Private College Fund's revenue in 2023 was $1,966,152.
Official website here: www.mnprivatecolleges.org
Who are the executives of Minnesota Private College Fund and what are their salaries?
There 35 volunteers at Minnesota Private College Fund.
Here are 33 key members and their salaries (Minnesota Private College Fund's CEO's salary is $0 and their total compensation is $444,969):
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Official website here: www.mnprivatecolleges.org
Where can I find the form 990 for Minnesota Private College Fund?
Minnesota Private College Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mnprivatecolleges.org
Learn more at the official website: www.mnprivatecolleges.org
Mission Statement of Minnesota Private College Fund
The Minnesota Private College Fund serves the shared needs of its member institutions by actively seeking philanthropic support from corporations, foundations, and other entities. This nonprofit organization's mission is to benefit its member colleges and universities, as well as the students they educate, by utilizing the donated funds. By doing so, the Minnesota Private College Fund aims to provide financial assistance to its 17 member private colleges, directly supporting both the institutions and the students enrolled in them through scholarships. Each year, each member institution pays annual dues to the Minnesota Private College Fund, which covers all the fund's general overhead, fundraising, and administrative expenses, ensuring that every dollar raised goes directly towards its intended purpose.
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Impact
July, 2024
The Minnesota Private College Fund's impact lies in its distribution of financial support for the 17 member private colleges, their students, and fund-operated scholarship programs that support students at member private colleges. Every dollar raised through fundraising goes directly to the member institutions in the form of general operating support and to students enrolled in member institutions in the form of scholarships. This allows the fund to directly benefit the member colleges and their students, ensuring the sustainability and success of higher education within the state of Minnesota.
This information is meant to be a general summary of Minnesota Private College Fund. 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 2023.
- Investment Income: $184
- Program Service Revenue: $315,164
- Gross Receipts: $1,966,152
Assets and Liabilities:
- Total Assets: $2,945,928
- Total Liabilities: $401,429
- Net Assets: $2,544,499
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
QUARTERLY ASSESSMENTS
Revenue
$315,164
Organization Details
Founding Year
1975
Phone
(651) 228-9061Principal Officer
Paul D Cerkvenik
Main Address
445 MINNESOTA STREET 500, ST PAUL, MN, 55101
Website
www.mnprivatecolleges.orgNTEE Category
Code: B124 - Education
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