Overview
What is Southern Virginia Higher Education Foundation Inc?
Southern Virginia Higher Education Foundation Inc is a nonprofit organization situated in South Boston, Virginia. Their primary mission is to promote and enhance educational opportunities for the residents of Halifax County and its surrounding areas. To achieve this goal, they provide maintenance, purchase, and administrative support for buildings and grounds leased to the Southern Virginia Higher Education Center. Some of their accomplishments include granting and donating equipment to the center to further enhance its educational capabilities. The foundation, with a team of four dedicated individuals, aims to drive continued learning and development in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (67%)
The Southern Virginia Higher Education Foundation Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its practices. While the organization boasts a strong accountability and finance score of 67%, several key areas have raised concerns. Notably, although the board is fully independent, the foundation lacks essential policies such as a conflict of interest and whistleblower policy, which are critical for transparency and governance.
Financially, the foundation demonstrates a commendable program expense ratio of 74.05%, suggesting that the majority of its funds are directed towards its mission-related activities. However, the absence of financial statements and a missing website link on its tax form has led to significant score deductions. These deficiencies highlight a potential lack of transparency that could affect donor trust and engagement.
In summary, while the Southern Virginia Higher Education Foundation Inc shows strengths in independent governance and effective program spending, it must address its policy gaps and improve its financial transparency to enhance its overall accountability rating and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Southern Virginia Higher Education Foundation Inc legitimate?
Southern Virginia Higher Education Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Virginia Higher Education 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $265,937
For more financial information, click here
What is the mission statement of Southern Virginia Higher Education Foundation Inc?
The Southern Virginia Higher Education Foundation Inc's mission is centered around promoting and enhancing continuing educational opportunities for citizens in Halifax County, Virginia, and its surrounding areas. The organization strives to achieve this goal by providing maintenance, purchasing necessary items, and covering administrative expenses for the buildings and grounds leased to the Southern Virginia Higher Education Center. This, in turn, helps to enhance and promote educational opportunities. The foundation has made significant strides in this area, as evident by its donations and grants of equipment to the Southern Virginia Higher Education Center.
Who is the CEO of Southern Virginia Higher Education Foundation Inc?
Monica Edmonds is the Director of Southern Virginia Higher Education Foundation Inc.
What is the revenue of Southern Virginia Higher Education Foundation Inc?
Southern Virginia Higher Education Foundation Inc's revenue in 2022 was $501,304.
Who are the executives of Southern Virginia Higher Education Foundation Inc and what are their salaries?
The average compensation at Southern Virginia Higher Education Foundation Inc during 2022 was $66,484. There are 4 employees at Southern Virginia Higher Education Foundation Inc.
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Where can I find the form 990 for Southern Virginia Higher Education Foundation Inc?
Southern Virginia Higher Education Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southern Virginia Higher Education Foundation Inc
Southern Virginia Higher Education Foundation Inc is committed to advancing and enhancing educational opportunities for the residents of Halifax County, Virginia, and its surrounding areas. Their mission is to act as a catalyst, promoting ongoing educational prospects for the community. They achieve this goal by providing necessary resources and support to the Southern Virginia Higher Education Center. The organization's efforts have led to the acquisition of grants and donations of equipment for the center, thereby augmenting its capacity to promote and facilitate education. By fostering an environment that encourages learning, Southern Virginia Higher Education Foundation Inc strives to contribute to the personal and professional growth of the community it serves.
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Impact
July, 2024
Southern Virginia Higher Education Foundation Inc's impact is evident in its efforts to promote and enhance continuing educational opportunities for the citizens of Halifax County, VA, and the surrounding areas. By supporting the maintenance, purchase, administration, and other expenses for the operation of buildings and grounds leased to the Southern Virginia Higher Education Center, the foundation plays a crucial role in improving access to education in the region. Additionally, the foundation's grants and donation of equipment to the Southern Virginia Higher Education Center further contribute to enhancing educational opportunities for the community. Through these initiatives, the foundation actively works towards fulfilling its mission of supporting education and fostering learning opportunities in the area.
This information is meant to be a general summary of Southern Virginia Higher Education 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: $27,663
- Program Service Revenue: $398,845
- Gross Receipts: $501,304
Assets and Liabilities:
- Total Assets: $18,790,348
- Total Liabilities: $383,427
- Net Assets: $18,406,921
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FACILITY RENTAL INCOME
Revenue
$398,845
Organization Details
Founding Year
1997
Principal Officer
Monica Edmonds
Main Address
820 BRUCE STREET, SOUTH BOSTON, VA, 24592
NTEE Category
Code: B99 - Education
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