Overview
What is Sylvester H Reed Memorial Trust?
The Sylvester H Reed Memorial Trust is a charitable organization based in Pflugerville, Texas. They have contributed significantly to the community by providing half a million dollars in scholarship funds to the Hill Country Community Foundation. The primary mission of this nonprofit is to support graduating high school students from Burnet, Texas, by providing financial aid for their higher education, including college and trade school tuition. This initiative aims to empower local youth, enabling them to pursue their academic and vocational goals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
The Sylvester H Reed Memorial Trust has earned a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. With a total score of 75%, the organization demonstrates strong management practices, particularly with an independent board consisting of 100% independent members. Their financial statements have been thoroughly reviewed, and they have reported no material diversions of assets, reflecting a commitment to transparency.
The trust shows excellent financial ratios, including a 0.00% liabilities to assets ratio, which suggests that it is operating without debt. Additionally, the program expense ratio stands at an impressive 100.00%, indicating that all of its expenses are directed toward its charitable programs. This focus on effective use of resources enhances its credibility among donors and stakeholders.
While the organization shows many strengths in financial management and governance, there is no information available regarding specific program outcomes or impact metrics. This could be an area for potential improvement, as stakeholders often value evidence of program effectiveness alongside solid financials.
This AI summary has been generated from information found on Charity Navigator.
Is Sylvester H Reed Memorial Trust legitimate?
Sylvester H Reed Memorial Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sylvester H Reed Memorial Trust 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: $0
For more financial information, click here
What is the mission statement of Sylvester H Reed Memorial Trust?
The Sylvester H Reed Memorial Trust's primary mission is to offer financial aid in the form of scholarships to graduating high school students. This assistance is intended to help cover the costs associated with pursuing higher education or vocational training. By providing these scholarships, the trust aims to make higher learning more accessible and affordable for these students. As of the provided information, the trust has allocated $500,000 towards these scholarships through the Hill Country Community Foundation.
Who is the CEO of Sylvester H Reed Memorial Trust?
John W Hoover is the Trustee of Sylvester H Reed Memorial Trust.
What is the revenue of Sylvester H Reed Memorial Trust?
Sylvester H Reed Memorial Trust's revenue in 2022 was -$1,752,351.
Who are the executives of Sylvester H Reed Memorial Trust and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sylvester H Reed Memorial Trust?
Sylvester H Reed Memorial Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sylvester H Reed Memorial Trust
The Sylvester H Reed Memorial Trust is a non-profit organization that is committed to providing financial assistance to graduating high school students in Burnet, Texas. Its mission is to help these students cover the costs associated with pursuing higher education, whether it be through college or trade school. To accomplish this, the Trust has allocated a significant sum of $500,000 in scholarship funds to the Hill Country Community Foundation. By doing so, it aims to make higher education more accessible and affordable for deserving students in the community.
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Impact
October, 2024
The Sylvester H Reed Memorial Trust significantly impacts the educational opportunities available to graduating high school students in Burnet, Texas. By providing scholarships that assist with college and trade school tuition, the trust helps to alleviate financial barriers that may prevent students from pursuing higher education.
With a remarkable contribution of $500,000 in scholarship funds allocated to the Hill Country Community Foundation, the trust plays a crucial role in fostering the academic and professional aspirations of local youth. This financial support not only empowers students to further their education but also contributes to the overall growth and development of the community by equipping its future leaders with the necessary skills and knowledge to succeed. The commitment to enhancing educational access has lasting effects, promoting a cycle of improvement within the community and supporting the goals of higher education for all deserving students.
This information is meant to be a general summary of Sylvester H Reed Memorial Trust. 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: -$290,182
- Gross Receipts: $8,909,518
Assets and Liabilities:
- Total Assets: $11,042,798
- Total Liabilities: $0
- Net Assets: $11,042,798
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Organization Details
Founding Year
1997
Phone
(512) 990-2355Principal Officer
John W Hoover
Main Address
PO BOX 1111, PFLUGERVILLE, TX, 78691
NTEE Category
Code: B82Z - Education
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