Overview
What is Laurel Ridge Community College Educational Foundation Inc?
Laurel Ridge Community College Educational Foundation Inc is a nonprofit organization located at 173 Skirmisher Lane, Middletown, VA 22645. Their primary mission is to support Laurel Ridge Community College, its students, faculty, and staff by providing funding. They achieve this by awarding scholarships to students based on both need and merit, thereby reducing financial barriers to enrollment in the college's academic programs. This foundation aligns with Laurel Ridge Community College's overall mission to create a positive, inclusive learning environment that fosters student success, diversity, and community vitality.
Official website here: www.laurelridgefoundation.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 89%, Three-Star out of Four Star rating.
Laurel Ridge Community College Educational Foundation Inc has received an 89% score, reflecting strong accountability and financial practices. With 100% of the score derived from the Accountability & Finance beacon, the organization has demonstrated exemplary governance, including a fully independent board and robust financial oversight. Key strengths include a high ratio of program expenses, indicating effective use of funds for its mission, and a solid working capital ratio, suggesting strong financial stability.
However, there are some areas for improvement. Notably, the foundation lacks a whistleblower policy and a document retention and destruction policy, both of which received low scores. These omissions could raise concerns about transparency and accountability in governance practices. Additionally, while the fundraising efficiency ratio is low, this may not significantly impact the organization's overall financial health given its strong program expense ratio.
Overall, the foundation's high rating signifies a commitment to financial integrity and effective use of resources, but it is essential for the organization to address its governance policies to enhance its operational transparency further.
This AI summary has been generated from information found on Charity Navigator.
Is Laurel Ridge Community College Educational Foundation Inc legitimate?
Laurel Ridge Community College Educational Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurel Ridge Community College Educational Foundation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $177,772
For more financial information, click here
Official website here: www.laurelridgefoundation.org
What is the mission statement of Laurel Ridge Community College Educational Foundation Inc?
The Laurel Ridge Community College Educational Foundation's mission is centered around supporting its college, students, and faculty and staff. It aims to foster a positive, caring, and dynamic learning environment that encourages student success and values diversity. Furthermore, the foundation strives to promote community vitality by securing funding for these purposes. In essence, its role is to bolster the college and its community, thereby empowering its students and academic personnel.
Official website here: www.laurelridgefoundation.org
Who is the CEO of Laurel Ridge Community College Educational Foundation Inc?
Liv Heggoy is the Chair of Laurel Ridge Community College Educational Foundation Inc.
Official website here: www.laurelridgefoundation.org
What is the revenue of Laurel Ridge Community College Educational Foundation Inc?
Laurel Ridge Community College Educational Foundation Inc's revenue in 2022 was $4,273,625.
Official website here: www.laurelridgefoundation.org
Who are the executives of Laurel Ridge Community College Educational Foundation Inc and what are their salaries?
There 11 volunteers at Laurel Ridge Community College Educational Foundation Inc.
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Official website here: www.laurelridgefoundation.org
Where can I find the form 990 for Laurel Ridge Community College Educational Foundation Inc?
Laurel Ridge Community College Educational Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laurelridgefoundation.org
Learn more at the official website: www.laurelridgefoundation.org
Mission Statement of Laurel Ridge Community College Educational Foundation Inc
Laurel Ridge Community College Educational Foundation Inc is committed to supporting the mission of Laurel Ridge Community College. This mission is centered around providing a nurturing, progressive, and stimulating learning environment that encourages student success, appreciates diversity, and contributes to community well-being. To achieve this objective, the Educational Foundation aims to secure funding for the college, its students, and its faculty and staff. By doing so, it plays a crucial role in reinforcing the educational institution's ability to thrive and empower its community.
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Impact
July, 2024
The Laurel Ridge Community College Educational Foundation Inc's impact is significant in providing financial support to students at Laurel Ridge Community College. By awarding scholarships based on both need and merit, the foundation helps reduce the financial barriers that may otherwise prevent students from enrolling in academic programs at LFCC. This support not only benefits individual students by making education more accessible but also contributes to the overall mission of the college to provide a positive, caring, and dynamic learning environment that inspires student success and promotes community vitality.
This information is meant to be a general summary of Laurel Ridge Community College Educational Foundation 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: $262,979
- Program Service Revenue: $810,000
- Gross Receipts: $5,415,754
Assets and Liabilities:
- Total Assets: $35,003,255
- Total Liabilities: $11,159,973
- Net Assets: $23,843,282
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FACILITY LEASE
Revenue
$810,000
Organization Details
Founding Year
1980
Phone
(540) 868-4078Principal Officer
Liv Heggoy
Main Address
173 SKIRMISHER LANE, MIDDLETOWN, VA, 22645
NTEE Category
Code: B84 - Education
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