Overview
What is Lynn Colbert Charitable Foundation?
The Lynn Colbert Charitable Foundation is a nonprofit organization that supports Murray State College by granting scholarships to students and supplementing operational funds. Based in Duncan, Oklahoma, the foundation awards tuition, fee, book waivers, on-campus housing waivers, and aids students both within and outside Stepshens County. The organization's mission is multi-faceted and contributes significantly to the education of deserving students and the operational needs of Murray State College.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 45% (Zero-Star out of Four Star rating)
The Lynn Colbert Charitable Foundation has received a Zero-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score is based solely on the Accountability & Finance category, which stands at a low 45%. Key issues include a lack of independent board members, missing financial statements, and deficiencies in policies such as conflict of interest and whistleblower protections.
While the foundation does have a reasonable program expense ratio of 64.69%, suggesting a portion of funds is directed towards its mission, the absence of transparency and governance practices raises red flags. Additionally, the organization has not published essential documents such as its tax form on its website, which limits public access to critical information.
Overall, potential donors and stakeholders should be cautious, taking into account the foundation's governance structure and financial accountability when considering support. The lack of strong oversight and transparency may hinder trust and the effective utilization of funds.
This AI summary has been generated from information found on Charity Navigator.
Is Lynn Colbert Charitable Foundation legitimate?
Lynn Colbert Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lynn Colbert Charitable Foundation 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: $575,755
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Lynn Colbert Charitable Foundation?
The Lynn Colbert Charitable Foundation supports Murray State College by granting scholarships to attending students and supplementing operational funds for the institution. Scholarships are awarded to students, some of whom are from within and outside Stepshens County, covering tuition, fees, books, on-campus housing, or a combination of these expenses. Additionally, the foundation provides financial assistance to Murray State College to enhance its operational capabilities as determined by the college leadership.
Who is the CEO of Lynn Colbert Charitable Foundation?
Geoff Johnson is the Co-Trustee (Thru 1/31/2022) of Lynn Colbert Charitable Foundation.
What is the revenue of Lynn Colbert Charitable Foundation?
Lynn Colbert Charitable Foundation's revenue in 2022 was $13,887,455.
Who are the executives of Lynn Colbert Charitable Foundation and what are their salaries?
There 2 volunteers at Lynn Colbert Charitable Foundation.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $340,458
- Other: $41,591
- Compensation: $0
- Related: $111,748
- Other: $6,974
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $60,530
- Other: $6,974
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $575,755
- Related: $0
- Other: $0
Where can I find the form 990 for Lynn Colbert Charitable Foundation?
Lynn Colbert Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lynn Colbert Charitable Foundation
The Lynn Colbert Charitable Foundation is a philanthropic organization that is committed to awarding scholarships to students attending Murray State College and supplementing operational funds for the institution. The foundation's primary mission is to support the educational pursuits of students by providing them with financial aid in the form of scholarships. These scholarships extend to students residing both within and outside of Stephens County.
Recipients of these scholarships receive various forms of financial assistance, including waivers for tuition, fees, books, and on-campus housing. The foundation's generosity extends beyond monetary support as it also contributes to enhancing the operational efficiency of Murray State College by providing additional funds as chosen by the college's leadership. In doing so, the Lynn Colbert Charitable Foundation plays an essential role in helping students achieve their academic goals and furthering the mission of Murray State College.
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Impact
October, 2024
The Lynn Colbert Charitable Foundation significantly enhances educational opportunities for students attending Murray State College. By providing scholarships, the foundation aids a diverse group of recipients, including those from Stephens County and beyond, facilitating access to higher education. Scholarships include various forms of financial assistance, such as tuition, fees, books, and even on-campus housing waivers, which collectively alleviate the financial burden on students.
In addition to supporting individual students, the foundation also contributes to the operational funds of Murray State College. This support is directed by the leadership of the college, ensuring that the additional resources are used effectively to enhance the overall educational environment and infrastructure. Through its targeted initiatives, the foundation plays a vital role in promoting educational attainment and strengthening the community around Murray State College.
This information is meant to be a general summary of Lynn Colbert Charitable Foundation. 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: $5,203,639
- Gross Receipts: $24,636,639
Assets and Liabilities:
- Total Assets: $46,761,274
- Total Liabilities: $0
- Net Assets: $46,761,274
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Organization Details
Founding Year
1971
Phone
(580) 251-7027Principal Officer
Geoff Johnson
Main Address
BANCFIRST PO BOX 1468, DUNCAN, OK, 73534
NTEE Category
Code: B82 - Education
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