Overview
What is Lamar Institute Of Technology Foundation?
Lamar Institute of Technology Foundation is a nonprofit organization based in Beaumont, Texas. Its primary mission is to manage endowment funds established to offer scholarships to students attending Lamar Institute of Technology. The foundation serves as an advisory board, providing suggestions to enhance the institute's training programs in the region. By listening to the institute's plans, they aim to contribute positively to the quality of education and training offered. The foundation's work is instrumental in supporting students financially, enabling them to pursue their educational goals at Lamar Institute of Technology.
Official website here: www.lit.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star rating)
The Lamar Institute of Technology Foundation has received a solid Three-Star rating from Charity Navigator, indicating a commendable level of transparency and effectiveness in its operations. With a perfect score in Accountability & Finance, the organization demonstrates strong governance practices, including having a fully independent board of directors and policies in place to manage conflicts of interest and whistleblower protections.
The foundation excels in its financial management, as evidenced by a low liabilities-to-assets ratio and a high program expense ratio, showing that a significant portion of its resources is directed toward its mission-related activities. The documentation of board meeting minutes and the presence of an accessible website further enhance its accountability to stakeholders.
Despite these strengths, the overall rating suggests there may still be areas for improvement. While the foundation shows a solid commitment to financial integrity and governance, continuous efforts in program delivery and community impact are essential for enhancing its overall effectiveness and reputation in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Lamar Institute Of Technology Foundation legitimate?
Lamar Institute Of Technology Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lamar Institute Of Technology 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.
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For more financial information, click here
Official website here: www.lit.edu
What is the mission statement of Lamar Institute Of Technology Foundation?
The Lamar Institute of Technology Foundation's mission involves managing endowment funds established to provide scholarships for students at the Lamar Institute of Technology. In addition to this financial role, the foundation serves as an advisory board, offering suggestions to improve the training provided by the institute. Acting as a sounding board and board of review, they listen to the institute's plans and provide constructive feedback to enhance the quality of the education offered in their region.
Official website here: www.lit.edu
Who is the CEO of Lamar Institute Of Technology Foundation?
Krista L Hunter is the President of Lamar Institute Of Technology Foundation.
Official website here: www.lit.edu
What is the revenue of Lamar Institute Of Technology Foundation?
Lamar Institute Of Technology Foundation's revenue in 2022 was $2,251,016.
Official website here: www.lit.edu
Who are the executives of Lamar Institute Of Technology Foundation and what are their salaries?
Here are 37 key members and their salaries:
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Official website here: www.lit.edu
Where can I find the form 990 for Lamar Institute Of Technology Foundation?
Lamar Institute Of Technology Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lit.edu
Learn more at the official website: www.lit.edu
Mission Statement of Lamar Institute Of Technology Foundation
The Lamar Institute of Technology Foundation plays a crucial role in supporting the educational aspirations of students by managing endowment funds established for this purpose. This noble organization serves as an advisory board for the institute, functioning as a sounding board and board of review. The foundation listens attentively to the plans of Lamar Institute of Technology and offers constructive suggestions to enhance the quality of the training provided in the region. By doing so, the Lamar Institute of Technology Foundation contributes significantly to the improvement of the skills and knowledge of its students, thereby fostering a more skilled workforce in the region.
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Impact
July, 2024
The Lamar Institute Of Technology Foundation's impact lies in managing endowment funds dedicated to providing scholarships for students at Lamar Institute of Technology. Additionally, the foundation serves as an advisory board for the institute, offering suggestions to enhance the quality of education and training in the region. Through its efforts, the foundation contributes to facilitating access to education and supporting students in pursuing their academic and professional goals at Lamar Institute of Technology.
This information is meant to be a general summary of Lamar Institute Of Technology 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: $1,867,755
- Gross Receipts: $5,732,780
Assets and Liabilities:
- Total Assets: $6,918,633
- Total Liabilities: $52,281
- Net Assets: $6,866,352
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Organization Details
Founding Year
1998
Phone
(409) 839-2956Principal Officer
Krista L Hunter
Main Address
PO BOX 10085, BEAUMONT, TX, 77710
Website
www.lit.eduNTEE Category
Code: B420 - Education
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