Overview
What is Memphis Opportunity Scholarship Trust Inc?
Memphis Opportunity Scholarship Trust Inc is a nonprofit organization situated in Memphis, Tennessee. Their primary mission is to offer educational opportunities and assistance to children who face challenges in achieving an equal education due to financial constraints. They achieve this goal primarily through scholarships, enabling students from low-income families to attend private schools in the Memphis area that charge tuition. With a focus on promoting educational excellence, Memphis Opportunity Scholarship Trust Inc aims to empower parents by providing them with the choice of selecting the most suitable school for their children, thereby contributing to their overall development.
Official website here: www.memphisscholarships.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Memphis Opportunity Scholarship Trust Inc has achieved a strong overall rating of 96%, earning a Four-Star designation from Charity Navigator. This high score reflects the organization’s commitment to accountability and financial health, with a perfect score in areas such as having a majority of independent board members and comprehensive financial oversight. The low liabilities to assets ratio indicates strong financial stability, which is critical for donor confidence.
The organization demonstrates transparency and ethical governance through established policies, including a conflict of interest policy and a whistleblower policy. These measures, along with thorough documentation practices and board meeting minutes, contribute to a robust governance structure. The trust's program expense ratio of approximately 72.84% highlights its focus on utilizing funds effectively for its mission-related activities.
While the data points to a well-managed and efficient organization, potential donors should consider the specific impact and outcomes of the programs funded by the trust. Overall, Memphis Opportunity Scholarship Trust Inc appears to be a reliable option for those looking to support educational opportunities in the Memphis area.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Opportunity Scholarship Trust Inc legitimate?
Memphis Opportunity Scholarship Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Opportunity Scholarship Trust 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: $127,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $119,946
For more financial information, click here
Official website here: www.memphisscholarships.org
What is the mission statement of Memphis Opportunity Scholarship Trust Inc?
Memphis Opportunity Scholarship Trust Inc's mission is centered around providing educational opportunities and assistance to children who face financial barriers, enabling them to attend private schools in the Memphis area. The organization's primary strategy is the provision of scholarships to support students from low-income families. By offering such educational assistance, Memphis Opportunity Scholarship Trust Inc aims to empower parents to choose the most suitable school for their children, thereby promoting academic excellence. The ultimate goal is to provide equal educational opportunities, ensuring every child has a chance to succeed, regardless of their financial situation.
Official website here: www.memphisscholarships.org
Who is the CEO of Memphis Opportunity Scholarship Trust Inc?
Alexis S Faber is the Board Chair of Memphis Opportunity Scholarship Trust Inc.
Official website here: www.memphisscholarships.org
What is the revenue of Memphis Opportunity Scholarship Trust Inc?
Memphis Opportunity Scholarship Trust Inc's revenue in 2023 was $1,847,486.
Official website here: www.memphisscholarships.org
Who are the executives of Memphis Opportunity Scholarship Trust Inc and what are their salaries?
The average compensation at Memphis Opportunity Scholarship Trust Inc during 2023 was $61,936. There are 4 employees and 6 volunteers at Memphis Opportunity Scholarship Trust Inc.
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- Compensation: $109,077
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- Other: $9,342
Official website here: www.memphisscholarships.org
Where can I find the form 990 for Memphis Opportunity Scholarship Trust Inc?
Memphis Opportunity Scholarship Trust Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.memphisscholarships.org
Learn more at the official website: www.memphisscholarships.org
Mission Statement of Memphis Opportunity Scholarship Trust Inc
Memphis Opportunity Scholarship Trust Inc, a nonprofit organization, is committed to providing educational opportunities and assistance to children who may struggle academically due to financial constraints. Its mission is to empower parents by offering them the choice to enroll their children in private schools within the Memphis area, which often charge tuition fees. By doing so, Memphis Opportunity Scholarship Trust Inc aims to foster excellence in education for underprivileged families. The primary means of assistance provided by the organization is through scholarships, enabling students from low-income backgrounds to attend these private schools, thereby expanding their educational horizons.
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Impact
July, 2024
Memphis Opportunity Scholarship Trust Inc's impact is profound and far-reaching. By providing educational opportunities and assistance to children from low-income families in Memphis, the organization is empowering parents to choose the most appropriate school for their children. Through the provision of scholarships, Memphis Opportunity Scholarship Trust Inc is enabling students who may struggle financially to access private schools in the area that charge tuition. This support is not just about education; it is about promoting excellence in education and ensuring that all children have equal opportunities to succeed.
This information is meant to be a general summary of Memphis Opportunity Scholarship Trust 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: $110,303
- Gross Receipts: $2,632,424
Assets and Liabilities:
- Total Assets: $7,501,630
- Total Liabilities: $0
- Net Assets: $7,501,630
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Organization Details
Founding Year
1998
Phone
(901) 842-5328Principal Officer
Alexis S Faber
Main Address
1000 RIDGEWAY LOOP RD 100, MEMPHIS, TN, 38120
Website
www.memphisscholarships.orgNTEE Category
Code: B82 - Education
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