Overview
What is Oklahoma Educational Memorial Trust Fdn?
The Oklahoma Educational Memorial Trust Foundation is a nonprofit organization, located in Tulsa, Oklahoma. Their primary focus is providing financial aid and scholarships to students who have graduated from public high schools within Tulsa. They actively maintain and distribute scholarships to eligible candidates seeking admission to universities and colleges, with a particular emphasis on Tulsa's public school graduates. The foundation's mission is to contribute to the academic success of these individuals by offering scholarships and supporting regularly maintained scholarship funds at federally tax-exempt colleges and universities.
Official website here: www.okscholarships.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 64%)
The Oklahoma Educational Memorial Trust Foundation has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its accountability and finance practices. While the organization excels in having a fully independent board and has no material diversion of assets, it falls short in several key areas, including the absence of a conflict of interest policy and a whistleblower policy.
The Foundation's financial health is relatively strong, with a liabilities to assets ratio of 0.00% and a program expense ratio of 60.32%. However, its overall program expense ratio reflects a lower score, suggesting that more could be done to ensure that a higher percentage of funds are directed towards its mission-related activities. Additionally, the lack of transparency is highlighted by missing documents such as tax forms on its website.
Despite its strengths in governance, the Foundation needs to address the gaps in its operational policies to enhance accountability and trust with its stakeholders. Implementing the recommended policies and improving its financial transparency could help boost its overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Oklahoma Educational Memorial Trust Fdn legitimate?
Oklahoma Educational Memorial Trust Fdn is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oklahoma Educational Memorial Trust Fdn 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.
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Official website here: www.okscholarships.org
What is the mission statement of Oklahoma Educational Memorial Trust Fdn?
The Oklahoma Educational Memorial Trust Foundation's primary mission is to provide and maintain scholarships for eligible candidates seeking admission to colleges or contributing to regularly maintained scholarship funds of federal tax-exempt universities. The emphasis is on graduates of Tulsa, Oklahoma, public schools. The organization's aim is to support the higher education of these students, fostering their academic growth and potential. The Trust also contributes to scholarship funds of other federally exempt colleges and universities, demonstrating its commitment to expanding educational opportunities beyond its local focus.
Official website here: www.okscholarships.org
Who is the CEO of Oklahoma Educational Memorial Trust Fdn?
Rick Arrington is the Trustee of Oklahoma Educational Memorial Trust Fdn.
Official website here: www.okscholarships.org
What is the revenue of Oklahoma Educational Memorial Trust Fdn?
Oklahoma Educational Memorial Trust Fdn's revenue in 2022 was $800,238.
Official website here: www.okscholarships.org
Who are the executives of Oklahoma Educational Memorial Trust Fdn and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.okscholarships.org
Where can I find the form 990 for Oklahoma Educational Memorial Trust Fdn?
Oklahoma Educational Memorial Trust Fdn's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.okscholarships.org
Learn more at the official website: www.okscholarships.org
Mission Statement of Oklahoma Educational Memorial Trust Fdn
The Oklahoma Educational Memorial Trust Foundation, in its mission, focuses on providing and maintaining scholarships for eligible nominees or applicants. This is primarily for admission to colleges or for contributions to regularly maintained scholarship funds of other federally tax-exempt colleges and universities. The organization has a particular emphasis on graduates of Tulsa, Oklahoma, public schools. In essence, the foundation is committed to assisting these students financially at the college level, ensuring they have the opportunity to continue their education and build a brighter future. By offering scholarships, the Oklahoma Educational Memorial Trust Foundation is investing in the potential of young individuals, contributing to the development of a knowledgeable and skilled workforce.
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Impact
July, 2024
The impact of the Oklahoma Educational Memorial Trust Foundation is significant in providing college-level student financial aid and scholarships for graduates of Tulsa, OK public high schools. By offering this support, the foundation helps students pursue higher education and achieve their academic goals. This assistance can have a transformative effect on the lives of recipients, opening up opportunities for them to further their education and pursue successful careers. The emphasis on graduates of Tulsa public schools highlights a commitment to supporting local students and investing in the educational advancement of the community. Through its scholarship programs, the foundation plays a key role in promoting access to higher education and contributing to the overall educational advancement of individuals and the community.
This information is meant to be a general summary of Oklahoma Educational Memorial Trust Fdn. 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: $726,598
- Gross Receipts: $3,512,188
Assets and Liabilities:
- Total Assets: $10,207,926
- Total Liabilities: $0
- Net Assets: $10,207,926
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Organization Details
Founding Year
1958
Phone
(918) 599-0045Principal Officer
Rick Arrington
Main Address
PO BOX 470208, TULSA, OK, 741470208
Website
www.okscholarships.orgNTEE Category
Code: B82Z - Education
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