Overview
What is Joseph Arkwright Scholarship Fund?
The Joseph Arkwright Scholarship Fund is a nonprofit organization based in Orlando, Florida. Their primary mission is to contribute financially to the Loyalty Permanent Endowment Fund of the WVU Alumni Association. This fund is specifically allocated for providing scholarship loans and/or grants to individuals. The goal is to support the educational aspirations of various individuals, thus contributing to their overall development and success.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50% (One-Star out of Four Stars)
The Joseph Arkwright Scholarship Fund has received a low rating of 50%, indicating significant room for improvement in various areas of accountability and transparency. The organization's score reflects a lack of independent board members and missing essential policies, such as conflict of interest and whistleblower protections, which can undermine trust and governance effectiveness.
On a positive note, the charity exhibits a strong program expense ratio of 77.45%, demonstrating that a substantial portion of its funds is directed towards its intended programs. Additionally, the organization shows no material diversion of assets, indicating sound financial management in that aspect. However, the absence of critical documents like meeting minutes and tax forms on their website raises concerns about their overall transparency.
Overall, while the Joseph Arkwright Scholarship Fund is effectively using its resources towards its mission, the lack of independent oversight and essential governance policies detracts from its credibility. Enhancing transparency and board independence could significantly bolster its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Joseph Arkwright Scholarship Fund legitimate?
Joseph Arkwright Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Joseph Arkwright 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: $4,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Joseph Arkwright Scholarship Fund?
The Joseph Arkwright Scholarship Fund's mission is to generate income for the Loyalty Permanent Endowment Fund of the West Virginia University Alumni Association. This income is then utilized to provide scholarship loans and grants to eligible individuals. The primary goal of the fund is to support the educational pursuits of these students, thereby contributing to their academic growth and future success. The scholarship loans and grants provide financial assistance, enabling deserving students to focus on their studies without undue financial burden. The Loyalty Permanent Endowment Fund of the West Virginia University Alumni Association serves as a vital resource for these scholarships, ensuring that deserving students have the opportunity to further their education.
Who is the CEO of Joseph Arkwright Scholarship Fund?
Truist Bank is the Trustee of Joseph Arkwright Scholarship Fund.
What is the revenue of Joseph Arkwright Scholarship Fund?
Joseph Arkwright Scholarship Fund's revenue in 2022 was $4,527.
Who are the executives of Joseph Arkwright Scholarship Fund and what are their salaries?
There is 1 key member and their salary:
- Compensation: $4,600
- Related: $0
- Other: $0
Where can I find the form 990 for Joseph Arkwright Scholarship Fund?
Joseph Arkwright Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Joseph Arkwright Scholarship Fund
The Joseph Arkwright Scholarship Fund is dedicated to providing financial assistance in the form of scholarships or loans to the Loyalty Permanent Endowment Fund of the West Virginia University Alumni Association. This nonprofit organization's mission is to contribute to this endowment fund, thereby aiding deserving individuals in their pursuit of higher education. The goal is to alleviate some of the financial burdens associated with education, thereby enabling more students to access valuable learning opportunities. The Joseph Arkwright Scholarship Fund plays a crucial role in supporting the aspirations of students, contributing to the wider educational landscape and fostering intellectual growth.
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Impact
October, 2024
The Joseph Arkwright Scholarship Fund plays a crucial role in supporting educational opportunities for students affiliated with the Loyalty Permanent Endowment Fund of the West Virginia University (WVU) Alumni Association. By providing financial resources through scholarship loans and grants, the fund directly impacts students' ability to pursue their academic goals without the burden of excessive financial strain.
This support not only facilitates access to higher education but also fosters a sense of community among alumni and current students. As recipients benefit from these scholarships, they are more likely to engage with the alumni network, creating a cycle of giving and support that strengthens the educational foundation for future generations. Ultimately, the Joseph Arkwright Scholarship Fund contributes to the long-term success of students and the vitality of the WVU community as a whole, promoting educational attainment and alumni involvement.
This information is meant to be a general summary of Joseph Arkwright 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: $4,527
- Gross Receipts: $64,818
Assets and Liabilities:
- Total Assets: $251,967
- Total Liabilities: $0
- Net Assets: $251,967
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Organization Details
Founding Year
1966
Phone
(304) 285-2360Principal Officer
Truist Bank
Main Address
PO BOX 919798, ORLANDO, FL, 328919798
NTEE Category
Code: B82 - Education
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