Overview
What is Fairmont State Foundation Inc?
Fairmont State Foundation Inc, based in Fairmont, West Virginia, serves as a supportive entity for Fairmont State University. Its primary mission is to collect, manage, and administer funds on behalf of the university. This includes providing scholarships, loans, and facilitating the fulfillment of matching requirements for students and faculty. The organization, with a team of six dedicated individuals, plays a significant role in bolstering the educational experience at Fairmont State University by offering essential financial aid.
Official website here: www.fsufoundation.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 95%, Four-Star out of Four Star rating
Fairmont State Foundation Inc has received an impressive Four-Star rating from Charity Navigator, highlighting its exceptional performance in Accountability & Finance. The organization's strong score of 95% is indicative of its solid financial practices and commitment to transparency. A particularly noteworthy aspect is its entirely independent board, which fosters unbiased governance and strategic oversight.
The foundation exhibits robust financial health, evidenced by its low liabilities-to-assets ratio and high program expense ratio, with 79.06% of expenses directed towards programs. Additionally, its fundraising efficiency is commendable, requiring only $0.11 to raise a dollar, indicating prudent management of resources and effective fundraising strategies. The considerable working capital of 12.77 years further underscores its financial stability and ability to sustain its initiatives over the long term.
While the data reflects a strong foundation in governance and finance, the summary does not mention any specific programs or direct impacts, leaving potential donors curious about the foundation's operational effectiveness in meeting community needs. However, the overall financial integrity and accountability suggested by the ratings may reassure stakeholders about their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Fairmont State Foundation Inc legitimate?
Fairmont State Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairmont State 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: $76,898
Professional Fundraising Fees: $0
Other Salaries and Wages: $242,985
For more financial information, click here
Official website here: www.fsufoundation.org
What is the mission statement of Fairmont State Foundation Inc?
The Fairmont State Foundation Inc's primary mission is to facilitate financial assistance for students and faculty at Fairmont State University. This is achieved by soliciting, receiving, managing, and administering gifts on behalf of the university. The foundation provides scholarships, loans, and assists in meeting funding matching requirements to support the educational journey of students and the professional growth of faculty members. The organization plays a crucial role in enhancing the academic community at Fairmont State University by providing essential financial aid.
Official website here: www.fsufoundation.org
Who is the CEO of Fairmont State Foundation Inc?
Roger Stewart is the Director Of Operations of Fairmont State Foundation Inc. The CEO's salary of Fairmont State Foundation Inc is $64,058 and their total compensation is $70,650.
Official website here: www.fsufoundation.org
What is the revenue of Fairmont State Foundation Inc?
Fairmont State Foundation Inc's revenue in 2022 was $3,252,544.
Official website here: www.fsufoundation.org
Who are the executives of Fairmont State Foundation Inc and what are their salaries?
The average compensation at Fairmont State Foundation Inc during 2022 was $53,314. There are 6 employees and 20 volunteers at Fairmont State Foundation Inc.
Here are 23 key members and their salaries (Fairmont State Foundation Inc's CEO's salary is $64,058 and their total compensation is $70,650):
- Compensation: $89,656
- Related: $0
- Other: $4,858
- Compensation: $68,560
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- Other: $3,826
- Compensation: $64,058
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- Other: $6,592
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Official website here: www.fsufoundation.org
Where can I find the form 990 for Fairmont State Foundation Inc?
Fairmont State Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fsufoundation.org
Learn more at the official website: www.fsufoundation.org
Mission Statement of Fairmont State Foundation Inc
Fairmont State Foundation Inc, a nonprofit organization, is dedicated to supporting the educational endeavors of students and faculty at Fairmont State University. Its primary mission is to solicit, receive, manage, and administer gifts on behalf of the university. This involves raising funds through various means and then allocating them to aid students and faculty members in their financial needs. The Foundation provides scholarships, loans, and even assists in meeting funding matching requirements. By doing so, Fairmont State Foundation Inc plays a crucial role in making higher education more accessible to deserving individuals, thereby contributing to the university's overall academic success.
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Impact
July, 2024
Fairmont State Foundation Inc's impact is significant in providing scholarships and financial support to Fairmont State University students and faculty. By offering scholarships, loans, and funding matching requirements, the foundation plays a crucial role in supporting the educational pursuits of students and the academic endeavors of faculty members. This assistance helps to alleviate financial burdens, making higher education more accessible and enhancing the overall learning experience at Fairmont State University. Through its mission to solicit, receive, manage, and administer gifts on behalf of the university, Fairmont State Foundation Inc contributes to the promotion of education and the advancement of knowledge in the community.
This information is meant to be a general summary of Fairmont State 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: $91,441
- Program Service Revenue: $62,202
- Gross Receipts: $22,115,516
Assets and Liabilities:
- Total Assets: $38,139,381
- Total Liabilities: $596,532
- Net Assets: $37,542,849
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATIONAL SUPPORT
Revenue
$62,202
Organization Details
Founding Year
1960
Phone
(304) 534-8786Principal Officer
Roger Stewart
Main Address
1300 LOCUST AVENUE, FAIRMONT, WV, 26555
Website
www.fsufoundation.orgNTEE Category
Code: B99 - Education
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