Overview
What is Vernon College Foundation Incorporated?
Vernon College Foundation Incorporated is a nonprofit organization situated in Vernon, Texas, at 4400 College Drive. Its primary mission is to support education by providing financial aid in the form of scholarships to deserving students and departmental grants to Vernon College. In the recent fiscal year, the foundation disbursed $331,805 for scholarship funding and an additional $16,052 for departmental grants. The foundation's purpose is to bolster educational opportunities for students and contribute to the college's various departments.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star Rating
The Vernon College Foundation Incorporated has received a commendable Four-Star rating from Charity Navigator, reflecting its high level of accountability and financial health. With an overall score of 94%, the foundation demonstrates a robust financial management system and a commitment to transparency in its operations. The foundation’s governance is notable, featuring a majority independent board, which enhances its accountability.
Strengths highlighted include a perfect score for independent board members and a solid audit and oversight committee. The foundation has no reported material diversion of assets and adheres to key policies such as conflict of interest, whistleblower protections, and document retention, all of which indicate a well-structured governance framework. Additionally, a high program expense ratio of 94.41% suggests that a significant portion of its resources is directed towards its mission-related activities.
No specific limitations are noted in the available data, which emphasizes the foundation's strong financial standing and effective management strategies. Overall, the Vernon College Foundation's high ratings and adherence to best practices position it as a reputable organization in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Vernon College Foundation Incorporated legitimate?
Vernon College Foundation Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vernon College Foundation Incorporated 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Vernon College Foundation Incorporated?
The Vernon College Foundation Incorporated is committed to providing financial aid in the form of scholarships and grants for students and various departments at Vernon College. Their mission is to offer funding that aids in the education and development of students, thereby contributing to the overall growth of the educational institution. In the current year, the foundation has allocated $331,805 for scholarship funding and an additional $16,052 for departmental grants, demonstrating their dedication to supporting the academic pursuits of Vernon College's student body and faculty.
Who is the CEO of Vernon College Foundation Incorporated?
Michelle A Alexander is the Chairperson of Vernon College Foundation Incorporated.
What is the revenue of Vernon College Foundation Incorporated?
Vernon College Foundation Incorporated's revenue in 2023 was $596,838.
Who are the executives of Vernon College Foundation Incorporated and what are their salaries?
There 11 volunteers at Vernon College Foundation Incorporated.
Here are 14 key members and their salaries:
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Where can I find the form 990 for Vernon College Foundation Incorporated?
Vernon College Foundation Incorporated's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Vernon College Foundation Incorporated
The Vernon College Foundation Incorporated is dedicated to providing financial aid in the form of scholarships for students and grants to Vernon College. This nonprofit organization works tirelessly to support the educational endeavors of its students and various departments within the college. In the current year, the foundation has allocated a significant sum of $331,805 for scholarship funding and an additional $16,052 for departmental grants. By providing these financial resources, the Vernon College Foundation Incorporated plays a crucial role in making higher education more accessible and affordable for numerous students, thereby contributing to their overall academic success.
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Impact
July, 2024
Vernon College Foundation Incorporated's impact can be seen in its significant contributions towards student scholarships and departmental grants at Vernon College. In the current year alone, the Foundation provided $331,805 in scholarship funding and $16,052 in departmental grants to support the educational endeavors of students. By supporting students through scholarships and grants, the Foundation plays a key role in fostering educational opportunities and helping individuals achieve their academic goals at Vernon College.
This information is meant to be a general summary of Vernon College Foundation Incorporated. 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: $306,153
- Gross Receipts: $596,838
Assets and Liabilities:
- Total Assets: $5,483,335
- Total Liabilities: $0
- Net Assets: $5,483,335
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Organization Details
Founding Year
1985
Phone
(940) 552-6291Principal Officer
Michelle A Alexander
Main Address
4400 COLLEGE DRIVE, VERNON, TX, 76384
NTEE Category
Code: B82 - Education
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