Overview
What is Friends Of 440 Scholarship Fundinc?
Friends of 440 Scholarship Fundinc is a nonprofit organization that provides educational scholarships for financially struggling dependents of workers who have suffered injuries during their employment and received workers' compensation benefits in Florida. The organization also extends its aid to the financially needy dependents of individuals primarily engaged in the operation or administration of Florida's workers' compensation laws. Eligible individuals must demonstrate good character, academic ability, and active participation in extracurricular activities to receive these scholarships. The purpose of Friends of 440 Scholarship Fundinc is to alleviate financial hardship, allowing these individuals to continue their education beyond high school or further their college education without undue financial strain.
Official website here: www.440scholarship.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
Friends Of 440 Scholarship Fundinc has received a Three-Star rating from Charity Navigator, indicating a moderately strong performance in terms of accountability and finance. The score reflects a sole focus on accountability, with a perfect score in several areas such as independent board members and the lack of material diversion of assets. This suggests a well-governed organization that emphasizes transparency and effective management.
The organization boasts a commendable program expense ratio of 86.41%, indicating that a significant majority of its funds are directed towards its programs and initiatives rather than administrative costs. Additionally, the charity effectively maintains its financial health, demonstrated by a low liabilities to assets ratio of just 0.04%. These figures suggest a responsible approach to financial stewardship and a commitment to fulfilling its mission.
However, the charity does have some shortcomings in governance practices, notably the absence of key policies such as those for conflict of interest and whistleblower protections. These gaps could raise concerns about transparency and risk management. Overall, while Friends Of 440 Scholarship Fundinc demonstrates strong financial accountability, addressing its policy deficiencies would enhance its governance framework.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of 440 Scholarship Fundinc legitimate?
Friends Of 440 Scholarship Fundinc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of 440 Scholarship Fundinc 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: $34,616
For more financial information, click here
Official website here: www.440scholarship.org
What is the mission statement of Friends Of 440 Scholarship Fundinc?
The organization, Friends Of 440 Scholarship Fundinc, is established with the primary mission to provide educational scholarships for financially struggling dependents of workers who have sustained injuries during their employment and have received workers' compensation benefits under Florida law. These individuals must reside in Florida or have work-related injuries that occurred within the state. The fund may also extend scholarships to financially needy dependents of individuals primarily engaged in the operation or administration of Florida's workers' compensation laws.
Eligible individuals are chosen based on their lack of economic means to pursue education beyond high school or further their college education without experiencing significant financial hardship. They must exhibit good character, strong citizenship, and academic ability, as well as engage in extracurricular activities. The purpose of this mission is to ensure that a portion of the organization's net earnings are dedicated to these scholarships, thereby supporting deserving individuals seeking higher education.
Official website here: www.440scholarship.org
Who is the CEO of Friends Of 440 Scholarship Fundinc?
R Cory Schnepper is the Member of Friends Of 440 Scholarship Fundinc.
Official website here: www.440scholarship.org
What is the revenue of Friends Of 440 Scholarship Fundinc?
Friends Of 440 Scholarship Fundinc's revenue in 2022 was $59,521.
Official website here: www.440scholarship.org
Who are the executives of Friends Of 440 Scholarship Fundinc and what are their salaries?
The average compensation at Friends Of 440 Scholarship Fundinc during 2022 was $34,616. There is 1 employee at Friends Of 440 Scholarship Fundinc.
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Official website here: www.440scholarship.org
Where can I find the form 990 for Friends Of 440 Scholarship Fundinc?
Friends Of 440 Scholarship Fundinc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.440scholarship.org
Learn more at the official website: www.440scholarship.org
Mission Statement of Friends Of 440 Scholarship Fundinc
Friends of 440 Scholarship Fundinc is an organization that aims to provide educational scholarships for financially needy dependents. This nonprofit specifically targets individuals who have been injured in the course of their employment and have consequently received workers' compensation benefits under Florida law. These individuals, or their dependents, must reside in Florida or have sustained work-related injuries within the state.
Beyond providing scholarships to workers' compensation beneficiaries, Friends of 440 Scholarship Fundinc may also extend financial aid to the dependents of individuals primarily engaged in the operation or administration of Florida's workers' compensation laws. The scholarships are awarded to eligible individuals who struggle financially to continue their education beyond high school or further their college education, without facing significant financial hardship.
To ensure that the organization's resources are utilized effectively, the recipients of these scholarships are selected based on several criteria. They must exhibit good character and responsible citizenship, possess the academic ability to successfully complete their chosen program of education, and engage in extracurricular activities. The mission of Friends of 440 Scholarship Fundinc is to ensure that a portion of its net earnings are dedicated to supporting these deserving individuals, thereby enabling them to pursue higher education and improve their lives.
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Impact
August, 2024
The impact of Friends Of 440 Scholarship Fundinc is significant in providing educational scholarships for financially needy dependents of workers who have been injured in the course of their employment in Florida. By awarding scholarships to those who lack the economic ability to further their education without hardship, the organization is enabling individuals to continue their studies beyond high school or college. This support not only helps these students academically but also promotes good character, citizenship, and participation in extracurricular activities. The organization's mission to assist those affected by work-related injuries demonstrates a commitment to helping students achieve their educational goals despite challenging circumstances.
This information is meant to be a general summary of Friends Of 440 Scholarship Fundinc. 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: $39,232
- Gross Receipts: $169,846
Assets and Liabilities:
- Total Assets: $568,649
- Total Liabilities: $13,469
- Net Assets: $555,180
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Organization Details
Founding Year
1991
Phone
(305) 423-8710Principal Officer
R Cory Schnepper
Main Address
9100 S DADELAND BLVD RM/STE 1600, MIAMI, FL, 33156
Website
www.440scholarship.orgNTEE Category
Code: B82Z - Education
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