Overview
What is Paraclete Inc?
Paraclete Inc is a nonprofit organization situated in South Boston, Massachusetts, specifically at 207 E Street. Despite suspending its day-to-day operations at the end of 2020 due to staffing and fundraising challenges brought on by the COVID-19 pandemic, the organization continued to operate with a board that engaged a non-profit consultant in 2021 to develop a strategic plan. This plan resulted in a decision to sell the organization's real estate assets and use the sale proceeds to fund scholarships for youth in the city of Boston. A purchase option agreement was signed in April 2022 with another non-profit organization, pending various contingencies for the buyer's permitting and financing. Paraclete Inc's mission is to enrich the lives of young people and their communities through education.
Official website here: www.paraclete.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star Rating
Paraclete Inc has achieved a Three-Star rating on Charity Navigator, with an overall score of 83%. This rating reflects the organization's strong performance in the Accountability & Finance category, where it scored 83%. The evaluation indicates that Paraclete Inc maintains a majority independent board, has no material diversion of assets, and effectively lists its website on tax forms, all contributing positively to its financial accountability.
The organization showcases impressive governance structures, including a fully independent board of members and a low liabilities to assets ratio at 2.00%. Its program expense ratio is particularly high at 98.91%, suggesting that a significant portion of its funds is directed towards its programs rather than administrative costs. This efficiency in fund allocation is a notable strength.
However, there are areas for improvement as indicated by the absence of certain policies. Specifically, the organization lacks a whistleblower policy and a document retention and destruction policy, which are critical for ensuring transparency and accountability. Addressing these gaps could enhance its governance framework and overall trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Paraclete Inc legitimate?
Paraclete Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paraclete Inc 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:
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Official website here: www.paraclete.org
What is the mission statement of Paraclete Inc?
Paraclete Inc's mission is centered around enriching the lives of young people and their communities through education. Despite facing challenges due to the COVID-19 pandemic, leading to the suspension of day-to-day operations and a period without employees in 2021 and 2022, the organization's commitment to its mission remained unwavering. A strategic plan was developed in 2021, which eventually led to a decision to sell the organization's real estate assets. The sale proceeds were earmarked for funding scholarships for youth in Boston. As of December 31, 2022, the sale had not yet been completed, but the organization remained under contract.
Official website here: www.paraclete.org
Who is the CEO of Paraclete Inc?
Peter Gelzinis is the Clerk of Paraclete Inc.
Official website here: www.paraclete.org
What is the revenue of Paraclete Inc?
Paraclete Inc's revenue in 2022 was $13,720.
Official website here: www.paraclete.org
Who are the executives of Paraclete Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.paraclete.org
Where can I find the form 990 for Paraclete Inc?
Paraclete Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.paraclete.org
Learn more at the official website: www.paraclete.org
Mission Statement of Paraclete Inc
Paraclete Inc, a nonprofit organization, is committed to enriching the lives of young people and their communities through education. Their mission, in essence, is to foster growth and development in the lives of the younger generation and the communities they inhabit, primarily through educational means. However, due to challenges brought on by the COVID-19 pandemic, Paraclete Inc suspended its day-to-day operations at the end of 2020. Despite this, the organization's board continued to meet regularly and engaged a non-profit consultant in 2021 to develop a strategic plan. This plan resulted in a decision to sell the organization's real estate assets and use the sale proceeds to fund scholarships for youth in Boston. As of December 31, 2022, a purchase option agreement had been signed with another non-profit organization, subject to various contingencies. Despite the delay in the sale closing, Paraclete Inc remains under contract, indicating its commitment to its mission, even in the face of operational challenges.
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Impact
August, 2024
Paraclete Inc's impact has been focused on enriching the lives of young people and their communities through education. Despite facing staffing and fundraising challenges due to the COVID-19 pandemic, the organization has persevered through strategic planning and decision-making to ensure its mission continues. By engaging a nonprofit consultant and planning to sell its real estate assets to fund scholarships for youth in Boston, Paraclete Inc has demonstrated a commitment to supporting and empowering the next generation. The organization's efforts to adapt and sustain its mission in challenging times showcase a dedication to making a positive difference in the community.
This information is meant to be a general summary of Paraclete Inc. 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: $11
- Gross Receipts: $15,061
Assets and Liabilities:
- Total Assets: $1,858,683
- Total Liabilities: $37,230
- Net Assets: $1,821,453
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Organization Details
Founding Year
1996
Phone
(857) 204-9518Principal Officer
Peter Gelzinis
Main Address
207 E STREET, SOUTH BOSTON, MA, 02127
Website
www.paraclete.orgNTEE Category
Code: B900 - Education
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