Overview
What is Public Education Foundation Of Marion County Inc?
The Public Education Foundation of Marion County Inc is a nonprofit organization based in Ocala, Florida. Their primary mission is to financially and materially support Marion County public schools, students, and teachers by channeling community interest towards public education. They initiate and underwrite projects and programs that benefit students, teachers, administrators, and the schools themselves. A notable program they run is Take Stock in Children, which provides scholarships and mentorships to low-income students in Marion County. This program aims to reduce high school dropout rates and increase the number of students completing college. In the 2021-2022 academic year, 219 students were actively enrolled in the program with a 100% mentor match. Scholarships were awarded to 41 graduating students in 2022, and the program boasts a high school graduation rate of 97%, significantly higher than their at-risk peer group's 80%. The foundation employs a team of 7 individuals.
Official website here: www.pefmc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
The Public Education Foundation of Marion County Inc has achieved an impressive 97% score, which reflects its commitment to accountability and financial health. With a perfect score in both Accountability & Finance and a fully independent board, the organization demonstrates transparency and effective governance. The foundation's financial oversight is robust, with no material diversion of assets noted, indicating responsible management of resources.
Strengths of the organization include high program expense and fundraising efficiency ratios, which suggest that a significant portion of its funds directly support its educational initiatives. The program expense ratio stands at 84.05%, meaning that the majority of expenses are allocated toward fulfilling its mission. Additionally, the foundation's working capital ratio of 2.28 years suggests a strong financial reserve to sustain its operations.
However, while the ratings reflect an overall strong performance, stakeholders should consider that the metrics primarily focus on financial aspects and governance. As with any nonprofit, ongoing evaluation of program effectiveness and impact on the community is essential for a comprehensive understanding of its contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Public Education Foundation Of Marion County Inc legitimate?
Public Education Foundation Of Marion County Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Public Education Foundation Of Marion County 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: $101,891
Professional Fundraising Fees: $0
Other Salaries and Wages: $222,388
For more financial information, click here
Official website here: www.pefmc.org
What is the mission statement of Public Education Foundation Of Marion County Inc?
The Public Education Foundation of Marion County Inc is committed to financially and materially supporting local public schools, students, and teachers. This is accomplished by fostering community interest in education and initiating support for projects and programs that benefit the aforementioned groups. The foundation's activities aim to enhance the educational experience and prospects of students and educators in the community.
One of the foundation's notable programs is 'Take Stock in Children,' which aims to help low-income students escape the cycle of poverty. The program offers college scholarships to eligible students who adhere to program guidelines and provides each student with a caring volunteer mentor for four years of high school. The mentor meets with the student once a week to provide guidance and support. The program aims to reduce high school dropouts and increase the number of students who complete college. During the 2021-2022 academic year, there were 219 active middle and high school students in the program, each with a 100% mentor match. College tuition scholarships were awarded to 41 students in the graduating class of 2022. The program boasts a high school graduation rate of 97%, significantly higher than the 80% of their at-risk peer group.
Official website here: www.pefmc.org
Who is the CEO of Public Education Foundation Of Marion County Inc?
Meghan Magamoll is the Board Member of Public Education Foundation Of Marion County Inc.
Official website here: www.pefmc.org
What is the revenue of Public Education Foundation Of Marion County Inc?
Public Education Foundation Of Marion County Inc's revenue in 2022 was $2,235,656.
Official website here: www.pefmc.org
Who are the executives of Public Education Foundation Of Marion County Inc and what are their salaries?
The average compensation at Public Education Foundation Of Marion County Inc during 2022 was $46,326. There are 7 employees and 265 volunteers at Public Education Foundation Of Marion County Inc.
Here are 25 key members and their salaries:
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- Related: $216,038
- Other: $46,358
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- Related: $107,015
- Other: $21,934
- Compensation: $0
- Related: $101,229
- Other: $20,990
- Compensation: $0
- Related: $92,725
- Other: $19,247
- Compensation: $5,875
- Related: $59,550
- Other: $24,225
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- Related: $9,635
- Other: $2,360
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Official website here: www.pefmc.org
Where can I find the form 990 for Public Education Foundation Of Marion County Inc?
Public Education Foundation Of Marion County Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pefmc.org
Learn more at the official website: www.pefmc.org
Mission Statement of Public Education Foundation Of Marion County Inc
The Public Education Foundation of Marion County Inc is committed to financially and materially supporting Marion County public schools, their students, and teachers. They achieve this goal by fostering community interest in public education and initiating support for projects and programs that benefit students, teachers, administrators, and Marion County public schools. The foundation's primary mission is to underwrite initiatives that enhance the educational experience for all involved, thereby contributing to the overall success of Marion County's public education system.
One of the foundation's most notable programs is Take Stock in Children, which aims to break the cycle of poverty for low-income students in Marion County. This program offers college scholarships to deserving students who adhere to specific guidelines. In addition to financial aid, each student is assigned a caring volunteer mentor who meets with the student once a week throughout their high school years. The objective of this mentorship is to reduce high school dropout rates and increase the number of students who complete their college education. During the 2021-2022 academic year, the Take Stock in Children program had 219 active middle and high school students, with each student having a 100% mentor match. The program awarded college tuition scholarships to 41 students in the graduating class of 2022, boasting a 97% high school graduation rate, significantly higher than the 80% rate of their at-risk peer group.
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Impact
July, 2024
The Public Education Foundation Of Marion County Inc has a significant impact on the local community by financially and materially supporting Marion County public schools, its students, and teachers. One of its key programs, Take Stock in Children, targets deserving low-income students to help them break the cycle of poverty by offering college scholarships contingent on program guidelines. Additionally, each student is paired with a dedicated volunteer mentor who provides support throughout their high school years.
During the 2021-2022 year, the program had 219 active middle and high school students, all of whom were successfully matched with mentors. Furthermore, there were 181 active student mentors, with some volunteers mentoring multiple students. The program's outcomes are impressive, with a 97% high school graduation rate among its participants compared to 80% in their at-risk peer group.
Through initiatives like Take Stock in Children, the Public Education Foundation Of Marion County Inc is making a tangible difference in the lives of students, helping them achieve academic success and pursue higher education opportunities.
This information is meant to be a general summary of Public Education Foundation Of Marion County 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: $27,717
- Gross Receipts: $2,408,637
Assets and Liabilities:
- Total Assets: $3,741,545
- Total Liabilities: $48,072
- Net Assets: $3,693,473
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Organization Details
Founding Year
1988
Phone
(352) 671-4167Principal Officer
Meghan Magamoll
Main Address
1239 NW 4TH STREET, OCALA, FL, 344756444
Website
www.pefmc.orgNTEE Category
Code: B20I - Education
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