Overview
What is Hong Kong Schools Alumni Federation Scholarship Foundation?
The Hong Kong Schools Alumni Federation Scholarship Foundation is a nonprofit organization located at 919 S Fremont Avenue 318, Alhambra, CA 91803. Their primary mission is to provide financial aid to deserving students who are in need, with the aim of fostering academic excellence and encouraging community service among young individuals. By offering scholarships, this organization seeks to support students in their educational pursuits and contribute to the development of future leaders.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, Overall Score: 73%)
The Hong Kong Schools Alumni Federation Scholarship Foundation holds a rating indicating a need for improvement, with a score of 73%. While the foundation demonstrates solid governance practices, such as having a fully independent board and maintaining policies for conflict of interest and whistleblowing, its program expense ratio is relatively low at 58.74%, suggesting that a smaller portion of its budget is allocated directly to its programs.
Strengths of the organization include the absence of material diversion of assets and a commendable liabilities-to-assets ratio of 3.02%, reflecting financial stability. The foundation's commitment to accountability is evident through its documented board meeting minutes and the engagement of a fully independent board. These aspects bolster trust in its governance and operational integrity.
However, the low program expense ratio raises questions about the effectiveness of fund utilization in achieving its mission. This area may require attention to enhance overall impact and align spending with the foundation's charitable objectives. Continuing to improve in financial efficiency will be essential for the foundation to elevate its standing and effectiveness in serving scholarship recipients.
This AI summary has been generated from information found on Charity Navigator.
Is Hong Kong Schools Alumni Federation Scholarship Foundation legitimate?
Hong Kong Schools Alumni Federation Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hong Kong Schools Alumni Federation Scholarship 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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What is the mission statement of Hong Kong Schools Alumni Federation Scholarship Foundation?
The Hong Kong Schools Alumni Federation Scholarship Foundation's mission is centered around providing financial aid to deserving students who demonstrate academic excellence. Furthermore, the organization is committed to fostering community service among youth. By offering scholarships, this foundation aims to alleviate financial burdens, thereby enabling talented students to pursue their education unhindered. The foundation also encourages the development of community services among the youth, instilling in them a sense of social responsibility.
Who is the CEO of Hong Kong Schools Alumni Federation Scholarship Foundation?
Eric Yew is the Secretary of Hong Kong Schools Alumni Federation Scholarship Foundation.
What is the revenue of Hong Kong Schools Alumni Federation Scholarship Foundation?
Hong Kong Schools Alumni Federation Scholarship Foundation's revenue in 2022 was $593,605.
Who are the executives of Hong Kong Schools Alumni Federation Scholarship Foundation and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Hong Kong Schools Alumni Federation Scholarship Foundation?
Hong Kong Schools Alumni Federation Scholarship Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hong Kong Schools Alumni Federation Scholarship Foundation
The Hong Kong Schools Alumni Federation Scholarship Foundation's mission is centered around two primary objectives. Firstly, the organization strives to offer financial aid to promising students who are currently facing financial difficulties. Secondly, it aims to nurture academic excellence and encourage community service among the youth. By providing scholarships, the Foundation empowers deserving students to pursue their education without financial constraints, fostering an environment that encourages academic achievement. Simultaneously, by promoting community services, the Foundation instills a sense of social responsibility in the youth, encouraging them to contribute positively to their communities. In essence, the Hong Kong Schools Alumni Federation Scholarship Foundation's mission is to support and inspire young individuals, helping them to excel academically and contribute to their communities.
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Impact
July, 2024
The Hong Kong Schools Alumni Federation Scholarship Foundation has made a significant impact by providing financial assistance to students in need, thereby enabling qualified individuals to pursue their academic goals. By offering scholarships to deserving students who may not have had the means to further their education otherwise, the Foundation directly contributes to fostering academic excellence within the community. Additionally, by emphasizing the importance of community service in youth, the Foundation instills values of giving back and social responsibility in its recipients, creating a ripple effect of positive impact beyond just financial aid.
This information is meant to be a general summary of Hong Kong Schools Alumni Federation Scholarship 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: $194,953
- Gross Receipts: $662,658
Assets and Liabilities:
- Total Assets: $5,743,433
- Total Liabilities: $230,485
- Net Assets: $5,512,948
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Organization Details
Founding Year
1996
Phone
(626) 281-8179Principal Officer
Eric Yew
Main Address
919 S Fremont Avenue 318, ALHAMBRA, CA, 91803
NTEE Category
Code: Q220 - International
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