Overview
What is Shong Foundation?
The Shong Foundation, situated in Saint Paul, Minnesota, is a nonprofit organization dedicated to promoting equal educational opportunities. They achieved this in 2022 by granting scholarships to seven students, thereby supporting their educational pursuits both domestically and internationally. The foundation's mission stems from a belief in equality, aiming to provide financial assistance to students from low-income families.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Star rating with a score of 50%
The Shong Foundation received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The foundation's score reflects a lack of independent board members and missing essential governance policies, such as conflict of interest and whistleblower policies. Additionally, the foundation has not posted its tax forms or board meeting minutes publicly, which raises transparency issues.
On a positive note, the organization maintains a high program expense ratio of 95.85%, suggesting that a substantial portion of its funds goes directly to its programs rather than administrative costs. This focus on programmatic spending demonstrates a commitment to fulfilling its mission, even amidst governance concerns.
However, the absence of independent oversight and critical policies may hinder the organization's effectiveness and public trust. Stakeholders are encouraged to consider these limitations when assessing the foundation's overall impact and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Shong Foundation legitimate?
Shong Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shong 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Shong Foundation?
The Shong Foundation is committed to ensuring equal educational opportunities for all. As part of its mission, it provides scholarships to students from low-income families, enabling them to pursue their education both domestically and internationally. In the year 2022, the foundation awarded scholarships to seven such students. The organization's goal is to bridge the educational gap and provide equal opportunities for growth and learning.
Who is the CEO of Shong Foundation?
Shong Yang is the Founder of Shong Foundation.
What is the revenue of Shong Foundation?
Shong Foundation's revenue in 2022 was $72,660.
Who are the executives of Shong Foundation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Shong Foundation?
Shong Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Shong Foundation
The Shong Foundation, in its mission, strives to ensure equality in educational opportunities for all. Central to its purpose is providing scholarships to students hailing from low-income families, enabling them to seize both domestic and international education prospects. Through this initiative, the foundation has supported seven students in their educational pursuits during the year 2022.
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Impact
August, 2024
Shong Foundation's impact can be seen in the positive changes it brings to the lives of students from low-income families. By providing scholarships to these students, the foundation is enabling them to access education opportunities, both domestically and internationally. In the year 2022, the foundation awarded scholarships to seven students, which is a direct demonstration of its commitment to ensuring everyone has an equal chance to pursue their educational goals. Through its focus on human services, the Shong Foundation is making a tangible difference in the lives of individuals who may otherwise not have had the means to further their education.
This information is meant to be a general summary of Shong 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.
- Gross Receipts: $72,660
Assets and Liabilities:
- Total Assets: $86,244
- Total Liabilities: $0
- Net Assets: $86,244
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Organization Details
Founding Year
2016
Phone
(651) 283-6099Principal Officer
Shong Yang
Main Address
1001 JOHNSON PARKWAY Ste A10, SAINT PAUL, MN, 55106
NTEE Category
Code: P20 - Human services
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