Overview
What is West Virginia State University Foundationinc?
West Virginia State University Foundationinc is a nonprofit organization situated in Institute, West Virginia. Its primary purpose is to provide financial aid in the form of scholarships to students attending West Virginia State University. By supporting the institution's mission, the foundation aims to contribute to the educational growth and success of its students. The foundation's activities are centered around promoting the university's mission, thereby playing a significant role in the academic community.
Official website here: www.wvstateu.edu/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Stars
The West Virginia State University Foundation Inc. has achieved a Four-Star rating due to its strong performance in accountability and finance, scoring 92%. This high rating indicates that the organization is committed to transparent financial management and effective stewardship of resources, which is essential for donor confidence and support.
The foundation boasts a fully independent board, with 23 members, which enhances its governance structure. It has also scored perfectly in various categories, such as financial statements audit, material diversion of assets, and fundraising efficiency. With a program expense ratio of 87.83%, the foundation allocates a significant portion of its resources directly to its programs, reflecting a strong commitment to its mission.
However, there are some areas for improvement, particularly the absence of a whistleblower policy and a document retention and destruction policy. While these omissions do not significantly detract from its overall financial health and governance, addressing them could further enhance the foundation's accountability and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is West Virginia State University Foundationinc legitimate?
West Virginia State University Foundationinc is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Virginia State University Foundationinc 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: $87,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $17,308
For more financial information, click here
Official website here: www.wvstateu.edu/foundation
What is the mission statement of West Virginia State University Foundationinc?
The West Virginia State University Foundationinc's mission is centered around supporting the mission of West Virginia State University. In essence, their primary objective is to provide financial assistance to the students of this university through scholarships. This support serves to uphold the overall mission of West Virginia State University, thereby contributing to the educational growth and success of its students.
Official website here: www.wvstateu.edu/foundation
Who is the CEO of West Virginia State University Foundationinc?
Patricia Schumann is the Director of West Virginia State University Foundationinc.
Official website here: www.wvstateu.edu/foundation
What is the revenue of West Virginia State University Foundationinc?
West Virginia State University Foundationinc's revenue in 2022 was $4,804,256.
Official website here: www.wvstateu.edu/foundation
Who are the executives of West Virginia State University Foundationinc and what are their salaries?
There 30 volunteers at West Virginia State University Foundationinc.
Here are 32 key members and their salaries:
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Official website here: www.wvstateu.edu/foundation
Where can I find the form 990 for West Virginia State University Foundationinc?
West Virginia State University Foundationinc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wvstateu.edu/foundation
Learn more at the official website: www.wvstateu.edu/foundation
Mission Statement of West Virginia State University Foundationinc
West Virginia State University Foundationinc is committed to supporting the mission of West Virginia State University. This nonprofit organization's primary goal is to provide scholarships to the students attending West Virginia State University. By offering financial aid, it aims to contribute to the university's mission and help deserving students pursue their higher education without financial constraints. The Foundation's activities are integral to the university's success and the growth of its student body, ensuring that talented individuals have the opportunity to further their education and make a positive impact in their communities.
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Impact
July, 2024
West Virginia State University Foundationinc's impact is significant in supporting the mission of West Virginia State University by providing scholarships to its students. This support plays a crucial role in enabling students to pursue their education and achieve their academic goals. The foundation's efforts contribute to the overall success and development of the university community, particularly by promoting access to education and supporting student advancement.
This information is meant to be a general summary of West Virginia State University Foundationinc. 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: $1,279,282
- Gross Receipts: $6,810,581
Assets and Liabilities:
- Total Assets: $19,448,293
- Total Liabilities: $1,560,811
- Net Assets: $17,887,482
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Organization Details
Founding Year
1959
Phone
(304) 766-3130Principal Officer
Patricia Schumann
Main Address
PO BOX 1000, INSTITUTE, WV, 25112
Website
www.wvstateu.edu/foundationNTEE Category
Code: B43I - Education
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