Overview
What is Preachers' Aid Society Of New England?
Preachers' Aid Society of New England is a nonprofit organization dedicated to supporting and enriching the lives of clergy families, with a particular focus on retirees. Their services include in-home visits, educational support, emergency assistance, retirement housing, educational loans, and health care, among others. They also offer programs like the Taylor Fellowship award and methodent for retired clergy. Their mission is to improve the quality of life for United Methodist clergy, especially those who have retired, through financial support, training, and direct services. They are headquartered at 51 Charles Wesley Court, Wells, Maine, with a team of nine dedicated individuals.
Official website here: www.preachersaid.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The Preachers' Aid Society of New England has achieved a Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. With a high score of 88%, the organization demonstrates solid governance practices, including a fully independent board and robust oversight of financial statements. Their program expense ratio of 71.63% suggests that a significant portion of their funds is directed towards their programs, which is a positive indicator of their commitment to their mission.
Despite the organization's strengths, there are notable areas for improvement. The absence of a whistleblower policy and a document retention and destruction policy raises concerns regarding internal governance practices. Additionally, the nonprofit has not posted its tax form on its website, which may impact transparency efforts.
Overall, while the Preachers' Aid Society of New England showcases strong financial management and an independent governance structure, addressing the identified gaps in policy and transparency could enhance its overall accountability and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Preachers' Aid Society Of New England legitimate?
Preachers' Aid Society Of New England is a legitimate nonprofit organization registered as a 501(c)(3) entity. Preachers' Aid Society Of New England 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: $170,328
Professional Fundraising Fees: $0
Other Salaries and Wages: $276,434
For more financial information, click here
Official website here: www.preachersaid.org
What is the mission statement of Preachers' Aid Society Of New England?
The Preachers' Aid Society of New England is dedicated to improving the quality of life for United Methodist clergy, with a particular focus on those who have retired from ministry and their surviving spouses. They accomplish this through various means, including providing robust financial support for retiree healthcare, offering training in personal financial management, organizing spiritual life retreats, and offering direct services to clergy families in need. By utilizing their endowment, the society aims to enable generations of families to enjoy a fulfilling life in Christian ministry.
Official website here: www.preachersaid.org
Who is the CEO of Preachers' Aid Society Of New England?
Wesley Palmer is the Director of Preachers' Aid Society Of New England.
Official website here: www.preachersaid.org
What is the revenue of Preachers' Aid Society Of New England?
Preachers' Aid Society Of New England's revenue in 2022 was $1,949,291.
Official website here: www.preachersaid.org
Who are the executives of Preachers' Aid Society Of New England and what are their salaries?
The average compensation at Preachers' Aid Society Of New England during 2022 was $49,640. There are 9 employees and 18 volunteers at Preachers' Aid Society Of New England.
Here are 16 key members and their salaries:
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- Compensation: $103,083
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- Other: $67,245
Official website here: www.preachersaid.org
Where can I find the form 990 for Preachers' Aid Society Of New England?
Preachers' Aid Society Of New England's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.preachersaid.org
Learn more at the official website: www.preachersaid.org
Mission Statement of Preachers' Aid Society Of New England
The Preachers' Aid Society of New England is dedicated to improving the quality of life for United Methodist clergy, with a particular focus on those who have retired from ministry and their surviving spouses. This nonprofit organization strives to remain faithful to its commitment by providing robust financial support for retiree health care and offering training in personal financial management. Additionally, it hosts spiritual life retreats and provides direct services to clergy families in need, aiming to enhance their lives during their time in ministry.
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Impact
July, 2024
The Preachers' Aid Society of New England has a significant impact on the quality of life for United Methodist clergy, particularly those who have retired from ministry and their surviving spouses. The Society provides a wide range of programs and services aimed at supporting clergy families, including in-home visitation, educational program support, emergency assistance, retiree housing, health care assistance, and more. By offering financial support for retiree health care, training in personal financial management, and spiritual life retreats, the Society helps these families enjoy a rich and fulfilling life in Christian ministry.
This information is meant to be a general summary of Preachers' Aid Society Of New England. 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: $1,291,131
- Program Service Revenue: $469,441
- Gross Receipts: $24,451,931
Assets and Liabilities:
- Total Assets: $48,592,141
- Total Liabilities: $913,025
- Net Assets: $47,679,116
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental income
Revenue
$469,441
Organization Details
Founding Year
1858
Phone
(207) 467-3246Principal Officer
Wesley Palmer
Main Address
51 Charles Wesley Court, Wells, ME, 04090
Website
www.preachersaid.orgNTEE Category
Code: Q33 - International
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