Overview
What is Educap Inc?
Educap Inc, also known as the Catherine B. Reynolds Foundation, is a nonprofit organization based in Sterling, Virginia. Established with the purpose of administering funds for religious, scientific, educational, and charitable purposes, the organization primarily focuses on lending funds to students, faculty, and staff of educational institutions and non-profit organizations for educational purposes. Educap Inc has provided over $2.5 billion in educational loans to over 350,000 individuals, enabling them to further their education and meet the rising costs of higher education. Today, the organization manages multiple loan programs and services approximately $79.6 million in educational loans for over 8,863 students. Educap Inc's loan criteria include creditworthiness, enrollment in an accredited college, and a clean credit history, among other factors. The organization also supports various philanthropic programs, as per its mission statement.
Official website here: www.cbrf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Educap Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. The charity's overall score is based entirely on its accountability and finance metrics, where it scored 96%. This high rating indicates that Educap Inc effectively manages its resources and adheres to best practices in financial oversight.
The organization demonstrates robust governance practices, with 60% of board members being independent, which strengthens its accountability. Additionally, Educap Inc has fully satisfactory scores in critical areas such as audit oversight, conflict of interest policy, and whistleblower protection, ensuring ethical operation. The efficient management of funds is evidenced by a program expense ratio of 86.89%, indicating that a significant portion of its expenses directly supports its programs.
However, while Educap Inc excels in financial management and governance, the summary does not provide insights into program effectiveness or community impact, which are essential factors for potential donors to consider. Overall, the charity showcases solid financial health and governance but could benefit from more transparency regarding its operational outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Educap Inc legitimate?
Educap Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Educap 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: $1,485,898
Professional Fundraising Fees: $0
Other Salaries and Wages: $630,081
For more financial information, click here
Official website here: www.cbrf.org
What is the mission statement of Educap Inc?
Educap Inc's mission is centered around helping students afford higher education and supporting various philanthropic programs. The organization functions within the guidelines of Section 501(C)(3) of the Internal Revenue Code, facilitating educational loans for students, faculty, and staff of educational institutions. It also collaborates with other entities to lend funds for religious, scientific, educational, or charitable purposes. Educap Inc has provided over $2.5 billion in educational loans to over 350,000 Americans, enabling them to pursue further education. Currently, the organization administers approximately $79.6 million in educational loans for over 8,863 students. To receive a loan, applicants must meet specific criteria, such as creditworthiness, age, and acceptable credit scores.
Official website here: www.cbrf.org
Who is the CEO of Educap Inc?
Catherine B Reynolds is the Principal Officer of Educap Inc.
Official website here: www.cbrf.org
What is the revenue of Educap Inc?
Educap Inc's revenue in 2022 was $3,429,686.
Official website here: www.cbrf.org
Who are the executives of Educap Inc and what are their salaries?
The average compensation at Educap Inc during 2022 was $264,497. There are 8 employees at Educap Inc.
Here are 11 key members and their salaries:
- Compensation: $783,945
- Related: $0
- Other: $49,877
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $431,786
- Related: $0
- Other: $53,265
- Compensation: $194,528
- Related: $0
- Other: $33,180
- Compensation: $162,520
- Related: $0
- Other: $32,774
- Compensation: $147,121
- Related: $0
- Other: $20,136
- Compensation: $165,226
- Related: $0
- Other: $8,015
- Compensation: $115,110
- Related: $0
- Other: $18,332
Official website here: www.cbrf.org
Where can I find the form 990 for Educap Inc?
Educap Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbrf.org
Learn more at the official website: www.cbrf.org
Mission Statement of Educap Inc
Educap Inc, a nonprofit organization, is dedicated to helping students gain access to funds for college costs and supporting various philanthropic programs. Its mission is multifaceted, encompassing four key areas. Firstly, Educap Inc aims to administer funds for religious, scientific, educational, and charitable purposes, falling under section 501(C)(3) of the Internal Revenue Code. Secondly, it oversees a variety of programs related to lending funds to students, faculty, and staff of educational institutions, as well as others, for educational purposes. Thirdly, Educap Inc manages programs where other governmental or nongovernmental entities lend funds to students, faculty, and staff of educational institutions and non-profit institutions, in furtherance of religious, scientific, educational, or charitable purposes. Lastly, the organization undertakes any other act or thing incidental to or connected with these purposes.
In terms of achievements, Educap Inc has provided over $2.5 billion in educational loans to over 350,000 Americans, enabling them to further their education and meet the rising costs of higher education. Currently, Educap Inc administers multiple loan programs and services, disbursing approximately $79.6 million in educational loans to over 8,863 students. To receive a loan from Educap Inc, applicants must meet certain criteria, including being accepted for full-time or part-time enrollment in an accredited college, university, or private secondary school approved by Educap Inc. They must also be creditworthy, be at least 18 years old (19 in Alabama and Nebraska, 21 in Mississippi and Puerto Rico), have no adverse public records, and meet other credit-related requirements.
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Impact
July, 2024
Educap Inc's impact is significant in helping students gain access to funds to pay for college costs and supporting various philanthropic programs. The organization has provided over $2.5 billion in educational loans to over 350,000 individuals, allowing them to further their education and meet the rising costs of obtaining a higher education. Currently, Educap Inc administers multiple loan programs, servicing approximately $79,658,428 in educational loans for over 8,863 students. By facilitating access to educational funding, Educap Inc is playing a crucial role in enabling individuals to pursue their academic goals and aspirations.
This information is meant to be a general summary of Educap 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: $572,818
- Program Service Revenue: $2,585,605
- Gross Receipts: $3,429,686
Assets and Liabilities:
- Total Assets: $60,861,527
- Total Liabilities: $20,347,821
- Net Assets: $40,513,706
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$2,585,605
Organization Details
Founding Year
1986
Phone
(703) 674-4719Principal Officer
Catherine B Reynolds
Main Address
PO BOX 650157, STERLING, VA, 20165
Website
www.cbrf.orgNTEE Category
Code: W600 - Public benefit
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