Overview
What is Lake-Sumter State College Foundation Inc?
Lake-Sumter State College Foundation Inc is a nonprofit organization situated in Leesburg, Florida, specifically at 9501 US Hwy 441. Its primary mission is to enrich the lives of students, faculty, and staff at Lake-Sumter State College. This is achieved through various means, such as offering scholarships, enhancing programs, hosting special events, and providing support for college facilities. The foundation also engages with private donors who wish to contribute to its mission of promoting higher education within the local community. Essentially, Lake-Sumter State College Foundation Inc strives to offer financial assistance, contribute to the college's educational excellence, and serve the community as a direct support organization.
Official website here: www.lssc.edu
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 99% (Four-Star out of Four Star rating)
Lake-Sumter State College Foundation Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its high overall score of 99%. The foundation's strong performance in Impact & Measurement, scoring 100%, indicates effective programs that significantly benefit scholarship recipients. Additionally, its Accountability & Finance score of 97 suggests a solid governance structure and financial health.
One of the organization’s notable strengths is its efficient use of funds, as demonstrated by a program expense ratio of 77.02%. This suggests that a large portion of its expenses directly supports its mission. The foundation has also achieved remarkable fundraising efficiency, raising over $1.50 for every dollar spent on scholarships, highlighting its commitment to maximizing the impact of donor contributions.
However, while the organization displays excellent financial metrics, its lower Accountability & Finance score compared to Impact & Measurement could indicate areas for improvement in transparency or financial practices. Overall, the Lake-Sumter State College Foundation Inc stands out for its impactful work and efficient use of resources to support students through scholarships.
This AI summary has been generated from information found on Charity Navigator.
Is Lake-Sumter State College Foundation Inc legitimate?
Lake-Sumter State College Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake-Sumter State College 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: $0
For more financial information, click here
Official website here: www.lssc.edu
What is the mission statement of Lake-Sumter State College Foundation Inc?
The Lake-Sumter State College Foundation Inc serves as a direct support organization, dedicated to promoting excellence in education, contributing to the community, and offering financial aid to deserving students. Its mission is threefold: providing quality education, offering community service, and offering financial assistance to eligible students. The foundation enhances the lives of Lake-Sumter State College students, faculty, and staff through scholarships, program enhancements, special events, and facility support. The organization also cultivates and assists private donors who wish to support higher education in their local community.
Official website here: www.lssc.edu
What is the revenue of Lake-Sumter State College Foundation Inc?
Lake-Sumter State College Foundation Inc's revenue in 2023 was $4,073,247.
Official website here: www.lssc.edu
Who are the executives of Lake-Sumter State College Foundation Inc and what are their salaries?
There 231 volunteers at Lake-Sumter State College Foundation Inc.
Here are 24 key members and their salaries:
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Official website here: www.lssc.edu
Where can I find the form 990 for Lake-Sumter State College Foundation Inc?
Lake-Sumter State College Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lssc.edu
Learn more at the official website: www.lssc.edu
Mission Statement of Lake-Sumter State College Foundation Inc
Lake-Sumter State College Foundation Inc, serving as a direct support organization, is committed to promoting excellence in education, contributing to the community, and providing financial assistance to deserving students. Their mission is multifaceted, encompassing efforts to enhance the lives of students, faculty, and staff at Lake-Sumter State College through various means. These include scholarships, program enhancements, special events, and facilities support. The foundation also plays a crucial role in cultivating and assisting private donors who are passionate about supporting higher education in their local community, thereby contributing to the overall improvement of the educational landscape.
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Impact
July, 2024
Lake-Sumter State College Foundation Inc's impact is significant in providing excellence in education, service to the community, and financial assistance to qualified students at Lake-Sumter State College. Through scholarships, program enhancements, special events, and facilities support, the foundation enables and enhances the lives of students, faculty, and staff at the college. Additionally, the foundation cultivates and assists private donors who wish to support its mission of improving higher education in the local community. Overall, Lake-Sumter State College Foundation Inc plays a vital role in supporting education and student success in Leesburg, FL, and beyond.
This information is meant to be a general summary of Lake-Sumter State College 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 2023.
- Investment Income: $645,792
- Gross Receipts: $16,751,787
Assets and Liabilities:
- Total Assets: $25,955,910
- Total Liabilities: $1,437,863
- Net Assets: $24,518,047
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Organization Details
Founding Year
1980
Principal Officer
Michelle Michnoff
Website
www.lssc.eduNTEE Category
Code: B410 - Education
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