Overview
What is Dabney S Lancaster Community Colleg Real Estate Foundation?
Dabney S Lancaster Community Colleg Real Estate Foundation is a nonprofit organization situated in Clifton Forge, Virginia. Its primary objective is to support Dabney S. Lancaster Community College by purchasing and renovating properties, transforming them into classroom spaces and training centers. By doing so, the foundation aims to contribute to the college's mission of delivering in-demand training programs in advanced manufacturing, machining, welding, HVAC, and diesel mechanics. The foundation's activities are focused on providing the college with the necessary facilities to educate and skill its students effectively.
Official website here: www.mgcc.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
Dabney S Lancaster Community College Real Estate Foundation has achieved a solid three-star rating from Charity Navigator, reflecting a score of 80%. This rating indicates a favorable level of accountability and financial health, with a perfect score for its independent board members and governance policies. The foundation demonstrates strong management practices, including well-documented conflict of interest and whistleblower policies.
Despite its strengths in governance and transparency, the foundation's program expense ratio stands at 56.33%, which may suggest room for improvement in allocating funds directly towards its programs. The accountability indicators show that the foundation effectively manages its assets with no material diversions, indicating a stable financial footing with a liabilities to assets ratio of 0.00%.
Overall, while the foundation exhibits robust governance and accountability practices, potential donors may wish to consider the program expense ratio in relation to the impact of its initiatives. The organization appears to be committed to its mission and operates with a clear structure, as evidenced by its high scores in board independence and policy documentation.
This AI summary has been generated from information found on Charity Navigator.
Is Dabney S Lancaster Community Colleg Real Estate Foundation legitimate?
Dabney S Lancaster Community Colleg Real Estate Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dabney S Lancaster Community Colleg Real Estate 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
For more financial information, click here
Official website here: www.mgcc.edu
What is the mission statement of Dabney S Lancaster Community Colleg Real Estate Foundation?
The Dabney S Lancaster Community Colleg Real Estate Foundation's mission is centered around supporting its affiliated community college. Specifically, the foundation aims to accomplish this by acquiring and renovating properties, transforming them into classroom spaces and training centers for the college's use. At present, the foundation is focusing on purchasing properties in Buena Vista, VA, with the intention of establishing a workforce center. This center will provide advanced training in fields such as manufacturing, machining, welding, HVAC, and diesel mechanics. By doing so, the foundation is contributing to the college's capacity to deliver in-demand skills training, thereby supporting the development of a skilled workforce.
Official website here: www.mgcc.edu
What is the revenue of Dabney S Lancaster Community Colleg Real Estate Foundation?
Dabney S Lancaster Community Colleg Real Estate Foundation's revenue in 2024 was $1,266,439.
Official website here: www.mgcc.edu
Who are the executives of Dabney S Lancaster Community Colleg Real Estate Foundation and what are their salaries?
There 15 volunteers at Dabney S Lancaster Community Colleg Real Estate Foundation.
Here are 10 key members and their salaries:
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- Related: $170,000
- Other: $42,000
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- Other: $0
Official website here: www.mgcc.edu
Where can I find the form 990 for Dabney S Lancaster Community Colleg Real Estate Foundation?
Dabney S Lancaster Community Colleg Real Estate Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.mgcc.edu
Learn more at the official website: www.mgcc.edu
Mission Statement of Dabney S Lancaster Community Colleg Real Estate Foundation
The Dabney S. Lancaster Community Colleg Real Estate Foundation's mission is centered around supporting its namesake institution, Dabney S. Lancaster Community College. This support is primarily achieved through the purchase and development of properties. The foundation's objective is to provide the college with suitable classroom spaces and training centers. By acquiring and renovating properties, the foundation aims to create a workforce center within which Dabney S. Lancaster Community College can deliver in-demand training programs in advanced manufacturing, machining, welding, HVAC, and diesel mechanics. This initiative not only expands the college's educational offerings but also equips students with the skills necessary for successful careers in these industries. In this way, the Dabney S. Lancaster Community Colleg Real Estate Foundation plays a crucial role in supporting the college's mission of providing quality education and workforce development opportunities.
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Impact
October, 2024
Dabney S. Lancaster Community College Real Estate Foundation significantly impacts the local community by enhancing educational infrastructure and providing essential training resources. By purchasing and renovating properties in Buena Vista, VA, the foundation aims to create a dedicated workforce center for the college. This center will facilitate in-demand training programs in advanced manufacturing, machining, welding, HVAC, and diesel mechanics, addressing critical skill shortages in these industries.
The foundation's initiatives not only support the college's mission to offer high-quality education but also foster economic development in the region. By equipping students with practical skills and knowledge, the foundation helps to prepare a qualified workforce, ultimately benefiting local employers and enhancing job opportunities for residents. This concerted effort bridges the gap between education and industry, promoting a sustainable future for the community.
This information is meant to be a general summary of Dabney S Lancaster Community Colleg Real Estate 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 2024.
- Investment Income: $20,062
- Program Service Revenue: $16,800
- Gross Receipts: $1,329,562
Assets and Liabilities:
- Total Assets: $953,062
- Total Liabilities: $0
- Net Assets: $953,062
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$16,800
Organization Details
Founding Year
2019
Principal Officer
K Kyle Keyser
Website
www.mgcc.eduNTEE Category
Code: B12 - Education
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