Overview
What is Arkansas Rural Endowment Fund Inc?
Arkansas Rural Endowment Fund Inc is a private, nonprofit organization established in Little Rock, Arkansas, following the passage of Act 27 in 1959. The primary purpose of AREF, as it is often referred to, is to extend affordable loans to rural Arkansans, helping them pursue higher education and other aspirations. Over the years, AREF has significantly contributed to the educational and agricultural sectors in rural Arkansas by providing student and agricultural loans. With a dedicated workforce of six employees, the organization continues to play an essential role in supporting the financial needs of rural communities in Arkansas.
Is Arkansas Rural Endowment Fund Inc legitimate?
Arkansas Rural Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Arkansas Rural Endowment Fund 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: $110,474
Professional Fundraising Fees: $0
Other Salaries and Wages: $268,609
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What is the mission statement of Arkansas Rural Endowment Fund Inc?
Arkansas Rural Endowment Fund Inc, established as a private, nonprofit entity in 1959 following Act 27, is primarily dedicated to providing affordable loans for students and agricultural purposes in rural areas. Over the years, this organization has been instrumental in helping numerous individuals in Arkansas pursue higher education to realize their dreams. The primary mission of Arkansas Rural Endowment Fund Inc is to make loan facilities accessible, thereby empowering rural communities through education and agricultural development.
What is the revenue of Arkansas Rural Endowment Fund Inc?
Arkansas Rural Endowment Fund Inc's revenue in 2023 was $1,196,612.
Who are the executives of Arkansas Rural Endowment Fund Inc and what are their salaries?
The average compensation at Arkansas Rural Endowment Fund Inc during 2023 was $63,180. There are 6 employees at Arkansas Rural Endowment Fund Inc.
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Where can I find the form 990 for Arkansas Rural Endowment Fund Inc?
Arkansas Rural Endowment Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Arkansas Rural Endowment Fund Inc
Arkansas Rural Endowment Fund Inc, established as a private, nonprofit entity in 1959, has a mission centered around providing affordable loans to individuals residing in rural Arkansas. Act 27, passed by the Arkansas General Assembly, was instrumental in the creation of this organization. Over the years, Arkansas Rural Endowment Fund Inc has been a beacon of hope for countless Arkansans, enabling them to pursue higher education and realize their dreams. By offering student loans, the nonprofit organization plays a significant role in empowering rural communities, fostering growth, and promoting education within these regions.
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Impact
July, 2024
Arkansas Rural Endowment Fund Inc has a significant impact on rural Arkansas by providing crucial student and agricultural loans to its residents. Since its establishment in 1959, AREF has played a pivotal role in helping thousands of individuals in rural Arkansas access higher education and pursue their dreams. By offering affordable loans through its private entity, AREF has been instrumental in bridging the financial gap for many rural Arkansans, enabling them to further their education and contribute positively to their communities.
This information is meant to be a general summary of Arkansas Rural Endowment Fund 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: $190,625
- Program Service Revenue: $883,573
- Gross Receipts: $1,196,612
Assets and Liabilities:
- Total Assets: $30,830,517
- Total Liabilities: $178,691
- Net Assets: $30,651,826
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATION LOANS
Revenue
$355,354
CAPITALIZED LOAN INT
Revenue
$62,449
AGRI LOANS
Revenue
$465,770
Organization Details
Founding Year
1959
Principal Officer
Tony Minicozzi Manager
NTEE Category
Code: B82Z - Education
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