Overview
What is The Virginia College Fund?
The Virginia College Fund, known as Commonwealth All for Rural College in operation, is a nonprofit organization based in Richmond, Virginia. Their primary mission is to solicit public contributions on behalf of member colleges and universities within the state, providing a convenient and accessible platform for foundations, businesses, and individuals to support small educational institutions in Virginia. With a workforce of four employees, they distribute these collected contributions to their affiliated colleges and universities, aiming to strengthen their educational capacities and opportunities for students.
Official website here: www.commonwealthalliance.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The Virginia College Fund has received a solid overall rating of 88%, reflecting a commitment to accountability and finance. The organization scores well in areas such as independent board composition and the integrity of financial statements, demonstrating effective governance. Notably, it has a high program expense ratio of 67.09%, indicating that a significant portion of its budget is directed towards its mission.
Despite its strengths, the organization has notable weaknesses in its whistleblower and document retention policies, scoring zero points in these areas. This lack of policies can raise concerns regarding transparency and accountability. However, the organization maintains good practices in other governance areas, such as conflict of interest and documenting board meeting minutes.
In summary, while The Virginia College Fund performs well in several key metrics, the identified deficiencies in whistleblower and document retention policies suggest that there is room for improvement to further enhance its operational accountability.
This AI summary has been generated from information found on Charity Navigator.
Is The Virginia College Fund legitimate?
The Virginia College Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Virginia 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: $124,891
Professional Fundraising Fees: $0
Other Salaries and Wages: $41,598
For more financial information, click here
Official website here: www.commonwealthalliance.org
What is the mission statement of The Virginia College Fund?
The Virginia College Fund's mission is centered around soliciting public contributions, acting as a convenient platform for foundations, businesses, and individuals to support small colleges and universities within Virginia. By doing so, they facilitate the distribution of these contributions to the member institutions. In essence, their role is to foster support for higher education in Virginia, making it accessible for both local and international students.
Official website here: www.commonwealthalliance.org
What is the revenue of The Virginia College Fund?
The Virginia College Fund's revenue in 2024 was $594,896.
Official website here: www.commonwealthalliance.org
Who are the executives of The Virginia College Fund and what are their salaries?
The average compensation at The Virginia College Fund during 2024 was $41,622. There are 4 employees and 21 volunteers at The Virginia College Fund.
Here are 23 key members and their salaries:
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Official website here: www.commonwealthalliance.org
Where can I find the form 990 for The Virginia College Fund?
The Virginia College Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.commonwealthalliance.org
Learn more at the official website: www.commonwealthalliance.org
Mission Statement of The Virginia College Fund
The Virginia College Fund, as a nonprofit entity, is dedicated to facilitating public contributions in support of small colleges and universities within Virginia. By providing a convenient platform for foundations, businesses, and individuals, this organization serves as a bridge, enabling them to contribute to the educational institutions that require financial assistance. The primary mission of The Virginia College Fund is to distribute these public contributions to its member colleges and universities, thereby aiding in their continued operation and growth.
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Impact
July, 2024
The Virginia College Fund plays a crucial role in supporting small colleges and universities in Virginia by facilitating public contributions from foundations, businesses, and individuals. By providing a convenient platform for these contributions, the fund helps ensure that these higher education institutions receive the necessary support to thrive. This support has a direct impact on the educational opportunities and resources available to students in Virginia, contributing to the overall strength and diversity of the state's higher education sector.
This information is meant to be a general summary of The Virginia 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 2024.
- Investment Income: $1,745
- Gross Receipts: $594,896
Assets and Liabilities:
- Total Assets: $713,782
- Total Liabilities: $317,872
- Net Assets: $395,910
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Organization Details
Founding Year
1965
Principal Officer
Peter Blake
Website
www.commonwealthalliance.orgNTEE Category
Code: B114 - Education
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