Overview
What is Seminole State College Educational Foundation Inc?
Seminole State College Educational Foundation Inc is a nonprofit organization situated in Seminole, Oklahoma. Their primary mission involves supporting Seminole State College and its students through various means, including providing scholarships. Additionally, they are dedicated to fostering economic development in the surrounding areas, utilizing contract revenue from the Oklahoma Department of Commerce (ODOC). With a small workforce of one employee, they contribute to the college's well-being and promote community growth.
Official website here: www.sscok.edu/foundation/
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 72% (Two-Star out of Four Star rating)
The Seminole State College Educational Foundation Inc has received a Two-Star rating from Charity Navigator, indicating some areas of concern despite notable strengths in its accountability and financial management. The foundation boasts a fully independent board and a high program expense ratio, demonstrating a commitment to channeling funds directly into its educational programs.
However, there are significant limitations that have affected its overall score. The organization lacks key policies such as a conflict of interest policy, whistleblower policy, and document retention policy. Additionally, the absence of financial documents on its website as required by their tax forms raises transparency issues, which could impact trust among donors and stakeholders.
Overall, while the foundation's strong program expense ratio reflects efficient use of funds for its intended purpose, the missing governance policies and transparency issues highlight areas needing improvement. Addressing these shortcomings could enhance its accountability and bolster confidence among potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Seminole State College Educational Foundation Inc legitimate?
Seminole State College Educational Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Seminole State College Educational 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $65,000
For more financial information, click here
Official website here: www.sscok.edu/foundation/
What is the mission statement of Seminole State College Educational Foundation Inc?
The Seminole State College Educational Foundation's mission is centered around supporting Seminole State College, providing scholarships for its students, and fostering economic growth in the surrounding areas. Through its activities, it aims to enhance the college's resources and opportunities, and helps financially empower students. Additionally, the foundation contributes to the local economy by leveraging contract revenue from the Oklahoma Department of Commerce.
Official website here: www.sscok.edu/foundation/
Who is the CEO of Seminole State College Educational Foundation Inc?
Lance Wortham is the Trustee of Seminole State College Educational Foundation Inc.
Official website here: www.sscok.edu/foundation/
What is the revenue of Seminole State College Educational Foundation Inc?
Seminole State College Educational Foundation Inc's revenue in 2022 was $2,306,423.
Official website here: www.sscok.edu/foundation/
Who are the executives of Seminole State College Educational Foundation Inc and what are their salaries?
The average compensation at Seminole State College Educational Foundation Inc during 2022 was $65,000. There is 1 employee and 81 volunteers at Seminole State College Educational Foundation Inc.
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- Related: $206,559
- Other: $11,245
Official website here: www.sscok.edu/foundation/
Where can I find the form 990 for Seminole State College Educational Foundation Inc?
Seminole State College Educational Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sscok.edu/foundation/
Learn more at the official website: www.sscok.edu/foundation/
Mission Statement of Seminole State College Educational Foundation Inc
Seminole State College Educational Foundation, as a charitable organization, is committed to supporting Seminole State College, providing scholarships for its students, and fostering economic development in the surrounding areas. The foundation's mission is multifaceted, aiming to strengthen the educational institution and empower its students financially. Additionally, the foundation contributes to the local economy by leveraging contract revenue from the Oklahoma Department of Commerce (ODOC). This revenue is utilized to stimulate economic growth and development in the surrounding communities, thereby enhancing the overall well-being and prospects of the area.
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Impact
July, 2024
Seminole State College Educational Foundation Inc's impact is significant in fostering economic development in the surrounding areas of SEMINOLE, OK. The Foundation provides college support, student scholarships, and works to stimulate economic growth through a contract with the Oklahoma Department of Commerce (ODOC). By providing support to Seminole State College and offering scholarships to its students, the Foundation plays a crucial role in enhancing educational opportunities and promoting economic development within the community.
This information is meant to be a general summary of Seminole State College Educational 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 2022.
- Investment Income: $216,928
- Program Service Revenue: $1,678,356
- Gross Receipts: $3,262,509
Assets and Liabilities:
- Total Assets: $14,462,251
- Total Liabilities: $9,538,868
- Net Assets: $4,923,383
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ODOC Contract Revenue
Revenue
$1,364,750
Building Rental Income
Revenue
$284,346
BCMSC Concessions
Revenue
$29,260
Organization Details
Founding Year
1972
Phone
(405) 382-9950Principal Officer
Lance Wortham
Main Address
PO Box 351, Seminole, OK, 748180351
Website
www.sscok.edu/foundation/NTEE Category
Code: B41 - Education
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