Overview
What is Lex Memorial Scholarship Fund Inc?
Lex Memorial Scholarship Fund Inc is a nonprofit organization, specifically categorized as an alumni association. Their primary mission is to award college scholarships to eligible students. Through their scholarship programs, they directly contribute funds to colleges, thereby supporting the academic pursuits of numerous individuals. The Lex Memorial Scholarship Fund's activities are centered around granting college scholarships, thereby empowering students and furthering their educational journeys.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
The Lex Memorial Scholarship Fund Inc has received a Three-Star rating, indicating a solid performance in terms of accountability and finance. This rating is derived entirely from its accountability and finance metrics, highlighting the organization's commitment to responsible fiscal management. The organization has shown strong governance practices, with a fully independent board and no material diversion of assets.
In terms of financials, the organization boasts an impressive program expense ratio of 93.22%, which signifies that a significant portion of its resources is dedicated to its core charitable activities. Additionally, the charity maintains a favorable liabilities to assets ratio of 0.00%, reflecting a stable financial position. The documentation practices are also commendable, with transparent board meeting minutes and proper retention policies in place.
While the Lex Memorial Scholarship Fund Inc demonstrates strengths in governance and financial accountability, the absence of additional performance metrics beyond the accountability beacon limits a more comprehensive assessment of its overall impact and effectiveness. Nevertheless, the existing data indicates a well-managed organization that prioritizes its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Lex Memorial Scholarship Fund Inc legitimate?
Lex Memorial Scholarship Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lex Memorial Scholarship Fund 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: $0
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What is the mission statement of Lex Memorial Scholarship Fund Inc?
The Lex Memorial Scholarship Fund Inc., as an alumni association, is dedicated to providing college scholarships. It accomplishes this by distributing funds to educational institutions to support deserving students through its scholarship programs. The organization's primary goal is to assist in the financial needs of students pursuing higher education, thereby contributing to their academic growth and future prospects. The Lex Memorial Scholarship Fund Inc. plays a crucial role in making higher education more accessible and affordable for numerous students.
Who is the CEO of Lex Memorial Scholarship Fund Inc?
Dale Profitt is the Director of Lex Memorial Scholarship Fund Inc.
What is the revenue of Lex Memorial Scholarship Fund Inc?
Lex Memorial Scholarship Fund Inc's revenue in 2022 was $44,300.
Who are the executives of Lex Memorial Scholarship Fund Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Lex Memorial Scholarship Fund Inc?
Lex Memorial Scholarship Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lex Memorial Scholarship Fund Inc
The Lex Memorial Scholarship Fund, an organization categorized under alumni associations, is dedicated to providing college scholarships. This nonprofit organization takes an active role in supporting students by transferring funds directly to educational institutions for their scholastic needs. Through its scholarship programs, Lex Memorial Scholarship Fund aims to make higher education more accessible and affordable for deserving individuals.
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Impact
August, 2024
The Lex Memorial Scholarship Fund Inc's impact is evident in its efforts to grant college scholarships to students. Through its scholarship programs, the organization sends money to colleges for the benefit of students, thus facilitating access to educational opportunities and helping students further their academic pursuits. This support contributes to the organization's broader mission of promoting education and empowering individuals to achieve their academic goals.
This information is meant to be a general summary of Lex Memorial Scholarship Fund 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: $20,723
- Gross Receipts: $44,305
Assets and Liabilities:
- Total Assets: $527,352
- Total Liabilities: $0
- Net Assets: $527,352
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Organization Details
Founding Year
1991
Principal Officer
Dale Profitt
Main Address
P O BOX 436, FLOYD, VA, 24091
NTEE Category
Code: B82Z - Education
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