Overview
What is Education Foundation Of The Lra Inc?
The Education Foundation of the LRA, a nonprofit organization based in Louisiana, is dedicated to fostering education within the hospitality industry. They achieve this goal by providing financial aid through scholarships to deserving students from various culinary, hotel, and restaurant schools in the state. Additionally, the foundation operates a career preparation program, catering specifically to students with interests in management and culinary arts. This program aims to equip them with necessary skills, thus contributing to the overall growth and development of the hospitality sector in Louisiana.
Official website here: www.lraef.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
The Education Foundation Of The Lra Inc has received a rating of 82%, which corresponds to a Three-Star designation. This score is derived entirely from a single beacon focusing on Accountability & Finance, reflecting the organization's commitment to operational transparency and sound financial management. For the most recent fiscal year, FY2022, the foundation has demonstrated strong governance practices, maintaining a board that is entirely independent and adhering to several essential policies.
The organization's strengths lie in its accountability measures, scoring high in various areas such as its independent board composition and the presence of a comprehensive audit and oversight committee. Additionally, they have established robust policies regarding conflict of interest, whistleblower protections, and document retention. The financial metrics indicate a low liabilities-to-assets ratio, showcasing fiscal stability.
However, the foundation's program expense ratio is somewhat concerning, sitting at 55.80%, which may suggest that a smaller proportion of its budget is allocated towards direct program services compared to administrative costs. This aspect could be an area for improvement as the organization continues to develop its impact in the community. Overall, while the foundation demonstrates strong accountability, enhancing the allocation of funds towards its programs could strengthen its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Education Foundation Of The Lra Inc legitimate?
Education Foundation Of The Lra Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Education Foundation Of The Lra 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $184,036
For more financial information, click here
Official website here: www.lraef.org
What is the mission statement of Education Foundation Of The Lra Inc?
The Education Foundation of the LRA, Inc., serves to advance education within the hospitality sector. It achieves this by providing financial aid through scholarships to deserving students from various institutions, such as restaurants, hotels, and culinary schools, based in Louisiana. Additionally, the foundation offers a career preparation program, catering to students who have a keen interest in management and culinary arts. This program aims to equip them with the necessary skills and knowledge to excel in their chosen fields.
Official website here: www.lraef.org
What is the revenue of Education Foundation Of The Lra Inc?
Education Foundation Of The Lra Inc's revenue in 2023 was $604,757.
Official website here: www.lraef.org
Who are the executives of Education Foundation Of The Lra Inc and what are their salaries?
The average compensation at Education Foundation Of The Lra Inc during 2023 was $61,345. There are 3 employees at Education Foundation Of The Lra Inc.
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- Compensation: $87,359
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- Other: $8,012
Official website here: www.lraef.org
Where can I find the form 990 for Education Foundation Of The Lra Inc?
Education Foundation Of The Lra Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lraef.org
Learn more at the official website: www.lraef.org
Mission Statement of Education Foundation Of The Lra Inc
The Education Foundation of the LRA, a nonprofit organization, is dedicated to advancing education within the hospitality industry. Its mission is to support and fund qualified applicants from various institutions, such as restaurant, hotel, and culinary schools, based in Louisiana. By providing scholarships, the foundation encourages and empowers young individuals to pursue careers in the hospitality sector. The Education Foundation of the LRA also operates a career preparation program, which caters to students interested in management and culinary arts. This program aims to equip these students with the necessary skills and knowledge to excel in their chosen fields, thereby contributing to the growth and success of the hospitality industry.
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Impact
July, 2024
The Education Foundation Of The Lra Inc has a significant impact on promoting education in the hospitality industry. Through funding scholarships for qualified applicants from restaurant, hotel, and culinary schools in Louisiana, the foundation enables individuals to pursue education and training in this field. Additionally, their career preparation program helps students interested in management and culinary arts to develop the necessary skills and knowledge for success. By focusing on education within the hospitality industry, the foundation not only supports the growth of talented professionals but also contributes to the overall advancement of this sector in Louisiana.
This information is meant to be a general summary of Education Foundation Of The Lra 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: $49,459
- Program Service Revenue: $56,755
- Gross Receipts: $1,740,051
Assets and Liabilities:
- Total Assets: $1,645,097
- Total Liabilities: $78,804
- Net Assets: $1,566,293
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATION PROGRAMS
Revenue
$56,755
Organization Details
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