Overview
What is Military Officers Association Of America Scholarship Fund?
The Military Officers Association of America Scholarship Fund is a nonprofit organization situated in Alexandria, Virginia. Their primary mission is to provide financial aid for undergraduate education to the children of military families. They offer interest-free loans and grants, with loan amounts reaching $8,500 and grants ranging from $500 to $7,625. The interest-free loans provided to over 4,000 military students amount to over $2.1 million in direct savings for the students (assuming an average interest rate of 5%). All donations received by the fund are exclusively utilized for educational assistance, with no funds diverted towards operational expenses.
Official website here: www.moaa.org/scholarshipfund
What are the reviews and ratings of this charity?
The Military Officers Association Of America Scholarship Fund holds a prestigious Four-Star out of Four Star rating from Charity Navigator, reflecting an exceptional score of 100%. This rating underscores the organization's strong performance in both Accountability & Finance and Impact & Measurement, indicating a well-managed charity that maximizes its contributions towards educational scholarships for military officers and their families.
The organization demonstrates impressive accountability metrics, including a fully independent board and a clear conflict of interest policy. Financially, it shows efficiency through a high program expense ratio of 76%, ensuring that a significant majority of funds are directed toward its mission. Furthermore, the organization has successfully increased scholarship recipients' incomes, evidencing its substantial impact with a return of $1.50 for every dollar spent.
While the information from GreatNonprofits is currently unavailable, the data from Charity Navigator highlights the organization's proactive approach towards receiving feedback to improve service experiences. Overall, the Military Officers Association Of America Scholarship Fund stands out as a commendable nonprofit, dedicated to supporting military personnel through reliable and effective scholarship programs.
This AI summary has been generated from information found on Charity Navigator.
Is Military Officers Association Of America Scholarship Fund legitimate?
Military Officers Association Of America Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Military Officers Association Of America Scholarship 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $472,464
For more financial information, click here
Official website here: www.moaa.org/scholarshipfund
What is the mission statement of Military Officers Association Of America Scholarship Fund?
The Military Officers Association of America Scholarship Fund's mission is centered around providing financial aid for the higher education of children from military families. More specifically, they offer interest-free loans and grants to children of former, active, and retired commissioned or warrant officers of the seven uniformed services, as well as children of active or retired enlisted members of the armed forces. In the previous year, they disbursed approximately $4.1 million in interest-free loans and $2.7 million in grants to eligible students. The interest-free loans, typically amounting to $8,500 each, and grants ranging from $500 to $7,625, contribute significantly to the educational pursuits of these students. Additionally, the outstanding interest-free loans to over 4,000 military children equate to over $2.1 million in direct savings for the students, based on an average interest rate of 5%. All donated funds are dedicated solely to educational assistance, and none are utilized for operational expenses.
Official website here: www.moaa.org/scholarshipfund
Who is the CEO of Military Officers Association Of America Scholarship Fund?
Lt Gen Brian T Kelly is the Principal Officer of Military Officers Association Of America Scholarship Fund. The CEO's salary of Military Officers Association Of America Scholarship Fund is $0 and their total compensation is $531,345.
Official website here: www.moaa.org/scholarshipfund
What is the revenue of Military Officers Association Of America Scholarship Fund?
Military Officers Association Of America Scholarship Fund's revenue in 2022 was $7,290,403.
Official website here: www.moaa.org/scholarshipfund
Who are the executives of Military Officers Association Of America Scholarship Fund and what are their salaries?
There 5 volunteers at Military Officers Association Of America Scholarship Fund.
Here are 11 key members and their salaries (Military Officers Association Of America Scholarship Fund's CEO's salary is $0 and their total compensation is $531,345):
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $482,323
- Other: $49,022
- Compensation: $0
- Related: $334,349
- Other: $53,242
- Compensation: $0
- Related: $305,936
- Other: $50,432
- Compensation: $0
- Related: $310,966
- Other: $46,308
Official website here: www.moaa.org/scholarshipfund
Where can I find the form 990 for Military Officers Association Of America Scholarship Fund?
Military Officers Association Of America Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.moaa.org/scholarshipfund
Learn more at the official website: www.moaa.org/scholarshipfund
Mission Statement of Military Officers Association Of America Scholarship Fund
The Military Officers Association of America Scholarship Fund is an organization dedicated to providing financial assistance for undergraduate education to children of military families. Specifically, it offers interest-free loans and grants to children of former, active, and retired commissioned or warrant officers of the seven uniformed services, as well as to children of active or retired enlisted members of the armed forces. The fund has provided approximately $4.1 million in interest-free loans and $2.7 million in grants to students from military families, with loans averaging $8,500 and grants ranging from $500 to $7,625. Additionally, the outstanding balance of $42,786,730 in interest-free loans to over 4,000 military children equates to over $2,139,336 in direct savings to students, based on an average interest rate of 5%. All donated funds support educational assistance, and none are used for operational expenses.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Military Officers Association Of America Scholarship Fund has had a significant impact by providing approximately $4.1 million in interest-free loans and $2.7 million in grants for undergraduate education to students from military families. These interest-free loans, amounting to $8,500 each, have been instrumental in easing the financial burden on over 4,000 military children, resulting in direct savings of over $2.1 million based on average interest rates. The organization's commitment to solely using donated funds for educational assistance showcases a dedication to supporting the higher education aspirations of military families without diverting resources to operational expenses.
This information is meant to be a general summary of Military Officers Association Of America Scholarship 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 2022.
- Investment Income: $1,381,035
- Gross Receipts: $28,959,310
Assets and Liabilities:
- Total Assets: $153,017,332
- Total Liabilities: $1,710,095
- Net Assets: $151,307,237
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1993
Phone
(703) 549-2311Principal Officer
Lt Gen Brian T Kelly
Main Address
201 N WASHINGTON STREET, ALEXANDRIA, VA, 22314
Website
www.moaa.org/scholarshipfundNTEE Category
Code: B82 - Education
If you are a representative of Military Officers Association Of America Scholarship Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.