Overview
What is Longwood University Foundation Inc?
Longwood University Foundation Inc, located in Farmville, Virginia, is a dedicated nonprofit organization that supports its affiliated university. It fulfills this mission by providing approximately 700 scholarships to students, enhancing the institution's reputation and attractiveness. Additionally, the foundation contributes to the collegiate endowment funds, promoting financial independence and growth. The foundation also solicits donations for the program endowment, which funds the operating needs for the university's academic departments, athletics, and special programs. Through ethical donor cultivation, strategic investment plans, and timely distribution of private resources, Longwood University Foundation Inc seeks to maximize support from the private sector, thereby contributing to the university's academic, social, and economic goals. With a modest team of 8 employees, the foundation plays a vital role in strengthening Longwood University's overall standing.
Official website here: www.longwood.edu/foundation/
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 95% (Four-Star out of Four Stars )**ar Rating)**
The Longwood University Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The charity scored exceptionally well in various metrics, particularly in governance practices, with 100% of its board members being independent and robust oversight mechanisms in place.
The Foundation's financial efficiency is notable, with a program expense ratio of over 71%, meaning that the majority of its resources are directed toward programs rather than administrative costs. The organization demonstrates sound financial sustainability, as reflected in its low liabilities to assets ratio and high working capital ratio.
One limitation observed is that the tax form was not distributed to the board before filing, which slightly impacted the overall governance score. However, the absence of any material diversion of assets and the presence of comprehensive conflict of interest and whistleblower policies underline the Foundation's commitment to integrity and transparency. Overall, it reflects a well-managed organization that is focusing on its core mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Longwood University Foundation Inc legitimate?
Longwood University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Longwood University 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: $287,187
Professional Fundraising Fees: $0
Other Salaries and Wages: $911,843
For more financial information, click here
Official website here: www.longwood.edu/foundation/
What is the mission statement of Longwood University Foundation Inc?
The Longwood University Foundation's mission is to enhance the reputation of Longwood University by backing its academic, social, and economic objectives. It strives to maximize support from the private sector through ethical and responsible donor engagement, strategic investment plans, and timely distribution of private resources. The foundation supports various programs at Longwood University, providing approximately 700 scholarships to students, contributing to collegiate endowment funds to promote financial independence and resources for growth, and soliciting donations for the program endowment, which funds the operational needs for the university's academic departments, athletics, and special programs.
Official website here: www.longwood.edu/foundation/
Who is the CEO of Longwood University Foundation Inc?
Bob Wertz is the President of Longwood University Foundation Inc. The CEO's salary of Longwood University Foundation Inc is $171,782 and their total compensation is $171,782.
Official website here: www.longwood.edu/foundation/
What is the revenue of Longwood University Foundation Inc?
Longwood University Foundation Inc's revenue in 2022 was $9,284,971.
Official website here: www.longwood.edu/foundation/
Who are the executives of Longwood University Foundation Inc and what are their salaries?
The average compensation at Longwood University Foundation Inc during 2022 was $149,879. There are 8 employees at Longwood University Foundation Inc.
Here are 31 key members and their salaries (Longwood University Foundation Inc's CEO's salary is $171,782 and their total compensation is $171,782):
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Official website here: www.longwood.edu/foundation/
Where can I find the form 990 for Longwood University Foundation Inc?
Longwood University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.longwood.edu/foundation/
Learn more at the official website: www.longwood.edu/foundation/
Mission Statement of Longwood University Foundation Inc
The Longwood University Foundation Inc, in its mission, aims to boost the reputation of Longwood University by backing its academic, social, and economic objectives. It achieves this by engaging in ethical and responsible donor cultivation, strategically investing resources, and distributing private funds in a timely manner. The foundation's ultimate goal is to maximize support from the private sector, thereby enhancing Longwood University's resources for growth and financial independence.
In line with this mission, the Longwood University Foundation Inc provides scholarships to approximately 700 students, making Longwood University more attractive. Additionally, the foundation supports collegiate endowment funds, which contribute to the university's financial independence. Furthermore, the foundation solicits donations for program endowments, which are used to meet the operating needs of the university's academic departments, athletics, and special programs.
In essence, the Longwood University Foundation Inc plays a significant role in strengthening Longwood University by securing private funds and utilizing them effectively to support various programs, enhance the students' experience, and promote the university's growth and financial independence.
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Impact
July, 2024
Longwood University Foundation Inc's impact is significant in supporting the activities and operations of Longwood University. The Foundation plays a crucial role in enhancing the desirability of Longwood University by providing approximately 700 scholarships to students. Additionally, it supports collegiate endowment funds to promote financial independence and resources for growth. The Foundation's efforts in soliciting donations for program endowment contribute to funding the operating needs of the university's academic departments, athletics, and special programs. By maximizing private sector support through ethical donor cultivation, strategic investment plans, and timely distribution of private resources, Longwood University Foundation Inc helps in enhancing the image of Longwood University and supporting its academic, social, and economic goals.
This information is meant to be a general summary of Longwood University 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: $3,480,277
- Gross Receipts: $9,475,669
Assets and Liabilities:
- Total Assets: $104,169,025
- Total Liabilities: $621,929
- Net Assets: $103,547,096
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Organization Details
Founding Year
1959
Phone
(434) 395-2033Principal Officer
Bob Wertz
Main Address
201 HIGH STREET, FARMVILLE, VA, 23909
Website
www.longwood.edu/foundation/NTEE Category
Code: B110 - Education
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