Overview
What is Greenwich Catholic Education Trust?
Greenwich Catholic Education Trust is a nonprofit organization situated in Greenwich, Connecticut. Its primary objective is to manage its finances effectively, keeping expenses low while maximizing income. The surplus income, barring capital gains, is then channeled as grants to Greenwich Catholic School, Inc., aiding the institution by providing scholarship funds. Essentially, the Trust's purpose is to generate income through investments and fundraising initiatives, with the ultimate goal of supporting Greenwich Catholic School by offering financial assistance through scholarships.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (60%, Two-Star out of Four Star rating)
The Greenwich Catholic Education Trust has received a Two-Star rating from Charity Navigator, indicating that it needs improvement in certain operational and transparency areas. While the organization excels in accountability and finance with a perfect score, its overall rating is impacted by a lack of essential practices such as a conflict of interest policy and transparency in governance.
Strengths of the organization include a fully independent board and a commendable program expense ratio, demonstrating that all of its expenses are directed towards its mission. However, it falls short in areas critical for transparency and governance, such as failing to maintain a functioning website that lists important documents and policies.
These limitations suggest that while the organization is effectively managing its program expenses, there are significant gaps in its operational practices that could undermine trust and accountability. Addressing these issues could improve its overall rating and enhance its effectiveness as a nonprofit serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Greenwich Catholic Education Trust legitimate?
Greenwich Catholic Education Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greenwich Catholic Education Trust 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
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What is the mission statement of Greenwich Catholic Education Trust?
The Greenwich Catholic Education Trust's mission is centered around generating income through investments and fundraising efforts. The primary objective of this organization is to utilize the generated funds to provide scholarship assistance to Greenwich Catholic School, thereby aiding in its operational support. The trust keeps its expenses minimal while striving to maximize its income. Subsequently, any income, excluding capital gains, is distributed as a grant to Greenwich Catholic School, Inc., specifically for providing scholarships.
Who is the CEO of Greenwich Catholic Education Trust?
James B Dougherty is the Trustee of Greenwich Catholic Education Trust.
What is the revenue of Greenwich Catholic Education Trust?
Greenwich Catholic Education Trust's revenue in 2023 was $118,439.
Who are the executives of Greenwich Catholic Education Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Greenwich Catholic Education Trust?
Greenwich Catholic Education Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Greenwich Catholic Education Trust
Greenwich Catholic Education Trust is an organization with a mission to support Greenwich Catholic School financially. This is achieved through two primary methods: investing funds and raising additional resources when necessary. The main goal is to generate income, keeping expenses minimal, and then distributing the surplus, excluding capital gains, as grants to Greenwich Catholic School, Inc. These grants are utilized to provide scholarships, aiding in the school's operations. The organization's mission is to contribute to the educational opportunities of students attending Greenwich Catholic School by leveraging its investment and fundraising capabilities.
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Impact
October, 2024
Greenwich Catholic Education Trust plays a vital role in supporting Greenwich Catholic School by providing scholarship funds that help ensure students can access quality education. By earning money on investments and minimizing expenses, the Trust maximizes the resources available for grants directly benefiting the school. This commitment to financial stewardship enables the Trust to support the school's operational needs, ultimately enriching the educational experience for students. The Trust's efforts contribute significantly to the sustainability and growth of Greenwich Catholic School, fostering a nurturing environment where students can thrive.
This information is meant to be a general summary of Greenwich Catholic Education Trust. 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 2023.
- Investment Income: $118,439
- Gross Receipts: $118,439
Assets and Liabilities:
- Total Assets: $3,450,507
- Total Liabilities: $118,439
- Net Assets: $3,332,068
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Organization Details
Founding Year
1970
Phone
(203) 869-3085Principal Officer
James B Dougherty
Main Address
co Dougherty - 28 Sound View Drive, Greenwich, CT, 06830
NTEE Category
Code: T90Z - Philanthropy
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