Overview
What is Foundations In Faith Inc?
Foundations In Faith Inc, located in Bridgeport, Connecticut, is a nonprofit organization dedicated to supporting various aspects of the Catholic community. Their primary focus lies in promoting Catholic education, nurturing vocations, and funding seminary education. Additionally, they contribute to the residence and retirement fund for priests and support various diocesan ministries and programs. The organization's mission is multifaceted, aiming to strengthen the Catholic community from various angles.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
Foundations In Faith Inc has earned an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The charity's score is solely based on its performance in the Accountability & Finance category, where it received full marks in various metrics, indicating robust governance and fiscal responsibility.
One of the key strengths of the organization is its independent board, with 73% of members being independent, which promotes unbiased decision-making. The charity also excels in financial oversight, with an Audit and Oversight Committee that adheres to high standards, ensuring meticulous financial management. Moreover, the organization's program expense ratio stands at an impressive 95.93%, demonstrating that the vast majority of its expenditures support its mission-driven programs.
While the charity showcases significant strengths in governance and financial health, it's important for potential donors and stakeholders to remain informed about ongoing activities and impact. Despite the high rating, continuous assessment of the organization's effectiveness in achieving its mission is essential for understanding its overall impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Foundations In Faith Inc legitimate?
Foundations In Faith Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundations In Faith 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Foundations In Faith Inc?
Foundations In Faith Inc is committed to supporting various aspects of Catholic education, vocation, and seminary education. Their mission encompasses providing resources for the residence and retirement fund of priests, as well as backing diocesan ministries and programs. This organization's primary goal is to contribute to the betterment of Catholic education and the support of those pursuing religious vocations. Additionally, they aim to assist in the retirement needs of priests, ensuring they can continue serving their communities with dignity and peace.
Who is the CEO of Foundations In Faith Inc?
Andy Aoyama is the Chairman & President of Foundations In Faith Inc.
What is the revenue of Foundations In Faith Inc?
Foundations In Faith Inc's revenue in 2022 was $3,107,303.
Who are the executives of Foundations In Faith Inc and what are their salaries?
There 26 volunteers at Foundations In Faith Inc.
Here are 16 key members and their salaries:
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- Other: $19,417
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Where can I find the form 990 for Foundations In Faith Inc?
Foundations In Faith Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Foundations In Faith Inc
Foundations In Faith Inc is dedicated to supporting various aspects of Catholic education, vocation, and seminary education. This nonprofit organization strives to ensure the success of Catholic education by providing resources and funding. Furthermore, Foundations In Faith Inc is committed to aiding in the formation of future priests through seminary education and offering a residence and retirement fund for priests. Additionally, the organization plays a significant role in supporting diocesan ministries and programs, contributing to the broader Catholic community. By investing in Catholic education, vocations, and seminary education, Foundations In Faith Inc seeks to foster a strong and vibrant Catholic community.
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Impact
July, 2024
Foundations In Faith Inc has a significant impact on supporting Catholic education, vocation, seminary education, priests' residence and retirement fund, as well as diocesan ministries and programs in Bridgeport, CT. Through its mission to support Catholic education and related initiatives, the organization plays a vital role in strengthening the Catholic community and ensuring the sustainability of essential services and educational programs.
This information is meant to be a general summary of Foundations In Faith 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: $1,139,920
- Gross Receipts: $3,107,317
Assets and Liabilities:
- Total Assets: $25,821,531
- Total Liabilities: $1,699,631
- Net Assets: $24,121,900
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Organization Details
Founding Year
1996
Phone
(203) 416-1390Principal Officer
Andy Aoyama
Main Address
238 Jewett Avenue, Bridgeport, CT, 06606
NTEE Category
Code: X22 - Religion related
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