Overview
What is Miami Dade College Foundation Inc?
Miami Dade College Foundation Inc is a nonprofit organization that actively supports Miami Dade College through various scholarship programs. Based in Miami, Florida (300 NE 2nd Avenue, Miami, FL 33132), the Foundation has awarded numerous scholarships, primarily to students attending Miami Dade College. A substantial number of these scholarship recipients come from low-income backgrounds and live below the federal poverty line. The Foundation serves as a direct supporter for Miami Dade College, as stated in Schedule O for additional information.
Official website here: www.mdcfoundation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star Rating)
Miami Dade College Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, with a high score of 97%. This rating reflects the organization’s strong accountability and financial health, demonstrating a commitment to transparent operations and effective management of resources. The organization has a fully independent board, ensuring that governance decisions are made without conflicts of interest, which contributes positively to its overall standing.
Key strengths of the foundation include its high program expense ratio of 86.96%, indicating that a significant portion of its funds is directed towards its mission-related programs. The foundation also exhibits excellent financial practices, such as a low liabilities to assets ratio of 7.97% and a working capital ratio that spans an impressive 7.59 years, showcasing its sustainability and fiscal responsibility. Additionally, the foundation maintains comprehensive policies for conflict of interest, whistleblower protection, and document retention, which bolster its governance framework.
While the overall ratings are exemplary, some feedback may hint at areas for improvement, particularly in fundraising efficiency, which stands at $0.062. However, this does not overshadow the foundation's strong financial practices and operational transparency, positioning Miami Dade College Foundation Inc as a reliable nonprofit dedicated to supporting educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Miami Dade College Foundation Inc legitimate?
Miami Dade College Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miami Dade 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: $803,676
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,828,820
For more financial information, click here
Official website here: www.mdcfoundation.com
What is the mission statement of Miami Dade College Foundation Inc?
Miami Dade College Foundation Inc is a non-profit organization dedicated to providing support for Miami Dade College. Its mission is to help students attending the college by awarding scholarships, a large number of which go to low-income individuals. Additionally, the foundation also grants scholarships for further studies at other educational institutions for graduates of Miami Dade College. The organization's primary goal is to make higher education accessible to those in financial need.
Official website here: www.mdcfoundation.com
Who is the CEO of Miami Dade College Foundation Inc?
Nelson Hincapie is the Miami Dade College President of Miami Dade College Foundation Inc. The CEO's salary of Miami Dade College Foundation Inc is $228,158 and their total compensation is $228,158.
Official website here: www.mdcfoundation.com
What is the revenue of Miami Dade College Foundation Inc?
Miami Dade College Foundation Inc's revenue in 2023 was $35,719,937.
Official website here: www.mdcfoundation.com
Who are the executives of Miami Dade College Foundation Inc and what are their salaries?
There 25 volunteers at Miami Dade College Foundation Inc.
Here are 31 key members and their salaries (Miami Dade College Foundation Inc's CEO's salary is $228,158 and their total compensation is $228,158):
- Compensation: $0
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- Other: $0
- Compensation: $228,158
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Official website here: www.mdcfoundation.com
Where can I find the form 990 for Miami Dade College Foundation Inc?
Miami Dade College Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mdcfoundation.com
Learn more at the official website: www.mdcfoundation.com
Mission Statement of Miami Dade College Foundation Inc
Miami Dade College Foundation Inc is a dedicated organization that plays a pivotal role in supporting Miami Dade College. The Foundation's primary mission is to provide scholarships and other forms of assistance to students attending Miami Dade College, as well as graduates seeking further education at other institutions. A substantial portion of the scholarship recipients come from low-income backgrounds and live below the federal poverty line.
In essence, Miami Dade College Foundation Inc serves as a crucial bridge for financially disadvantaged students, enabling them to pursue higher education and better their lives. By awarding scholarships, the organization alleviates the financial burden of education, making it more accessible to a diverse group of students. In doing so, Miami Dade College Foundation Inc fosters a more inclusive and equitable educational environment.
Additionally, the Foundation's generosity extends beyond the realm of financial aid. It also supports students by providing them with essential resources and opportunities to thrive academically and personally. The Foundation's commitment to education is an invaluable asset to the Miami Dade College community, empowering students to reach their full potential and make a positive impact on their own lives and in their communities.
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Impact
October, 2024
Miami Dade College Foundation Inc plays a vital role in enriching the educational landscape for students in the Miami area. By awarding scholarships primarily to students attending Miami Dade College, the Foundation significantly increases access to higher education, especially for those from low-income backgrounds. Many of the scholarship recipients face financial challenges, often living below the federal poverty level, which makes support from the Foundation crucial for their academic pursuits.
Moreover, the Foundation extends its impact by providing scholarships to graduates of Miami Dade College who wish to continue their studies at other institutions, fostering a culture of continuous learning and professional growth in the community. This commitment to education not only enhances individual lives but also strengthens the community by promoting higher education attainment, economic mobility, and workforce development in the region. The Foundation's efforts create pathways for students to achieve their academic and career goals, leading to a more educated and empowered populace.
This information is meant to be a general summary of Miami Dade 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: $5,341,155
- Program Service Revenue: $543,023
- Gross Receipts: $62,545,638
Assets and Liabilities:
- Total Assets: $236,523,698
- Total Liabilities: $18,866,122
- Net Assets: $217,657,576
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Contributed Services
Revenue
$543,023
Organization Details
Founding Year
1996
Principal Officer
Nelson Hincapie
Main Address
300 NE 2ND AVENUE, Miami, FL, 33132
Website
www.mdcfoundation.comNTEE Category
Code: B110 - Education
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