Rainy River Community College Foundation

The Rainy River Community College Foundation is a nonprofit organization dedicated to supporting the educational pursuits of students at Rainy River Community College in Minnesota. It is classified as a 501(c)(3) entity, making donations to this organization tax-deductible.

Mission

The foundation's mission is centered on investing in student success and the future of the community through scholarships and college development initiatives. It aims to enhance educational experiences and provide opportunities for students to achieve their academic goals, thereby contributing to the local community's growth and economic vitality.

Financial Overview

As of recent records, the foundation's revenue primarily consists of contributions and investment income. For instance, in one fiscal year, contributions made up over 100% of the total revenue, with investment income contributing approximately 11.4%. The foundation maintains a strong asset base with minimal liabilities, indicating financial stability and responsible management.

Scholarships and Programs

The Rainy River Community College Foundation offers a variety of scholarships ranging from $200 to $6,000. These scholarships are funded by generous donors, including friends of the college, organizations, businesses, individuals, alumni, and the foundation itself. To be eligible for these scholarships, students must apply for admission to Minnesota North College - Rainy River Campus, meet specific GPA requirements, and submit relevant transcripts.

Governance and Structure

The foundation operates with a small team, primarily relying on volunteers for its operations. It is led by a board of directors who oversee the strategic direction and financial management of the organization. Key roles within the foundation include the Principal Officer and various board members who contribute their expertise without compensation.

Impact

By providing financial assistance and supporting college development, the Rainy River Community College Foundation plays a crucial role in empowering students and fostering educational growth within the community. Its commitment to education helps strengthen the local workforce and contributes to sustainable economic growth in the region.