Overview
What is Montgomery College Foundation Inc?
Montgomery College Foundation Inc is a charitable organization situated in Rockville, Maryland. Its primary mission is to support the educational endeavors of Montgomery College, located in Montgomery County. The foundation achieves this by distributing scholarships, totaling over $2.6 million this year, to over 2,000 students. This generous financial aid is a crucial stepping stone for students who are the first in their families to attend college, as well as those from minority backgrounds. The foundation also backs the Achieving Collegiate Excellence and Success (ACES) program, which offers coaching support to high school students, preparing them for college and ultimately, a bachelor's degree. Additionally, scholarships are awarded to participants of the Presidential Scholars Program, which aims to increase representation of African American men in high-demand, high-wage careers. The foundation's dedication to education is instrumental in empowering students to transform their lives and enrich their community.
Official website here: www.montgomerycollege.edu/foundation
What are the reviews and ratings of this charity?
Montgomery College Foundation Inc holds a commendable Three-Star out of Four Star rating from Charity Navigator, with an overall score of 88%. This rating is based on the charity's Accountability & Finance score, illustrating its strong financial practices and governance. The foundation excels particularly in areas like having a fully independent board and maintaining robust oversight for financial statements, highlighting transparency and effective management.
The organization's financial structure is notably sound, with a high program expense ratio (90.72%), indicating that a significant portion of funds is directed towards its mission-related programs. Additionally, the fundraising efficiency is impressive, requiring only seven cents to raise each dollar, which points to effective fundraising strategies that minimize overhead costs. However, the liabilities to assets ratio could be improved, as it could suggest some financial strain, though it does not appear to pose a significant risk at this time.
User reviews from GreatNonprofits were not available for this charity. Overall, Montgomery College Foundation Inc demonstrates strong accountability and transparency, making it a trustworthy entity for potential donors seeking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Montgomery College Foundation Inc legitimate?
Montgomery College Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montgomery College 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:
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Official website here: www.montgomerycollege.edu/foundation
What is the mission statement of Montgomery College Foundation Inc?
Montgomery College Foundation Inc supports the educational activities of Montgomery College by providing resources to expand and enhance its contributions to the community. Its mission is to aid students in overcoming financial barriers to obtaining a college degree, with a particular focus on vulnerable populations such as first-generation, African American, Hispanic, and those who will be the first in their families to attend college. The foundation offers scholarships through generous donations, supporting programs like the Achieving Collegiate Excellence and Success (ACES) initiative, which provides coaching support to high school students with the potential to pursue a college degree. Additionally, the foundation provides scholarships for participants in the Presidential Scholars Program, which aims to increase the representation of African American men in high-wage, high-demand careers. The foundation's mission is to empower students to change their lives and enrich their community, and its donors play a crucial role in making this possible.
Official website here: www.montgomerycollege.edu/foundation
Who is the CEO of Montgomery College Foundation Inc?
Donna Pina is the Treasurer of Montgomery College Foundation Inc.
Official website here: www.montgomerycollege.edu/foundation
What is the revenue of Montgomery College Foundation Inc?
Montgomery College Foundation Inc's revenue in 2022 was $9,502,498.
Official website here: www.montgomerycollege.edu/foundation
Who are the executives of Montgomery College Foundation Inc and what are their salaries?
There 50 volunteers at Montgomery College Foundation Inc.
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Official website here: www.montgomerycollege.edu/foundation
Where can I find the form 990 for Montgomery College Foundation Inc?
Montgomery College Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.montgomerycollege.edu/foundation
Learn more at the official website: www.montgomerycollege.edu/foundation
Mission Statement of Montgomery College Foundation Inc
Montgomery College Foundation Inc, a nonprofit organization, is dedicated to supporting the educational activities of Montgomery College. The foundation's mission is to provide resources for the college to expand and enhance its contributions to the community. It achieves this by distributing substantial scholarship aid to over 2,000 students each year, thanks to the generosity and vision of its donors. These donors recognize the transformative power of education in lifting individuals and families out of poverty, which often serves as the greatest barrier to obtaining a college degree.
The Montgomery College Foundation has shown a particular commitment to supporting vulnerable students, including first-generation, African American, Hispanic, and other students who will be the first in their families to attend college. The organization's Achieving Collegiate Excellence and Success (ACES) program is a prime example of this commitment. Designed to reach these students early, the ACES program offers coaching support to prepare them for a successful college experience, ultimately leading to a bachelor's degree. The foundation also supports students participating in the Presidential Scholars Program, an initiative that aims to increase the representation of African American men in high-wage, high-demand careers.
In essence, Montgomery College Foundation Inc is a vital partner in the pursuit of higher education. Its mission is to empower students to change their lives and enrich their community by providing the necessary resources and support, ensuring that education remains accessible and transformative for all.
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Impact
July, 2024
Montgomery College Foundation Inc's impact is evident through its dedicated support of educational activities at Montgomery College. The Foundation plays a crucial role in providing resources for the college to expand and enhance its contributions to the community. One of the key ways it achieves this is through its scholarship program, which distributed over $2.6 million in scholarship aid to more than 2,000 students in a single year.
This significant financial support would not have been possible without the generosity and vision of donors who understand the transformative power of education in lifting individuals and families out of poverty. The Foundation also supports innovative programs like the Achieving Collegiate Excellence and Success (ACES) program, which targets vulnerable students such as first-generation, African American, Hispanic, and potential first-generation college attendees. By offering coaching support early on in high school, this forward-thinking initiative prepares students for success at Montgomery College and beyond, ultimately helping them earn their bachelor's degrees.
Furthermore, the Foundation provides scholarships to participants in the Presidential Scholars Program, focused on increasing the representation of African American men in high-wage, high-demand careers. By fostering an environment where students from all backgrounds can thrive and succeed, Montgomery College Foundation Inc is making a tangible difference in the lives of individuals and the broader community.
This information is meant to be a general summary of Montgomery College 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: $2,853,330
- Program Service Revenue: $2,669,007
- Gross Receipts: $35,073,126
Assets and Liabilities:
- Total Assets: $114,232,820
- Total Liabilities: $72,624,742
- Net Assets: $41,608,078
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FROM COLLEGE
Revenue
$2,669,007
Organization Details
Founding Year
1982
Phone
(240) 567-7381Principal Officer
Donna Pina
Main Address
9221 CORPORATE BOULEVARD, ROCKVILLE, MD, 20850
NTEE Category
Code: B41I - Education
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