Overview
What is Pontifical University Of The Holy Cross Foundation?
The Pontifical University of the Holy Cross Foundation, also known as The Formation Foundation, is a nonprofit organization based in New York City, specifically at 420 Lexington Avenue 300, New York, NY 10170. With a team of four dedicated individuals, the foundation's primary mission is to support institutions that offer academic training in ecclesiastical disciplines. This encompasses providing financial aid for classroom space, libraries, infrastructure, and operating expenses. Essentially, it aims to foster institutions that offer theological studies in the ecclesiastical field.
Official website here: www.theformationfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43% (Zero-Star out of Four Star rating)
The Pontifical University Of The Holy Cross Foundation has received a Zero-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. The overall score reflects only the Accountability & Finance beacon, which is weighted heavily in the assessment. While the organization does excel in some areas, such as having a fully independent board and no material diversion of assets, it has serious shortcomings that have impacted its overall rating.
Strengths include a fully independent board and adherence to conflict of interest policies, which are critical for accountability. However, the foundation has notable limitations, particularly in its financial management. The program expense ratio is low at 39.46%, indicating that a smaller portion of its budget is dedicated to program activities, and the liabilities to assets ratio raises concerns about financial stability.
Additionally, the absence of a whistleblower policy and document retention policy points to potential gaps in governance and risk management. These issues combined contribute to the low rating, suggesting that potential donors should exercise caution and seek further information before supporting the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Pontifical University Of The Holy Cross Foundation legitimate?
Pontifical University Of The Holy Cross Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pontifical University Of The Holy Cross Foundation 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: $116,087
Professional Fundraising Fees: $0
Other Salaries and Wages: $174,115
For more financial information, click here
Official website here: www.theformationfoundation.org
What is the mission statement of Pontifical University Of The Holy Cross Foundation?
The Pontifical University of the Holy Cross Foundation's mission is centered around supporting institutions that specialize in ecclesiastical training and theological studies. In essence, they strive to aid educational establishments that focus on imparting knowledge in the religious disciplines. The foundation accomplishes this by providing financial assistance for various expenditures, such as classroom space, library resources, infrastructure, and operational costs. By doing so, they contribute to the academic growth and success of these institutions, thereby fostering the development of future religious leaders and scholars.
Official website here: www.theformationfoundation.org
Who is the CEO of Pontifical University Of The Holy Cross Foundation?
Colin K Howell is the President & C.E.O. of Pontifical University Of The Holy Cross Foundation.
Official website here: www.theformationfoundation.org
What is the revenue of Pontifical University Of The Holy Cross Foundation?
Pontifical University Of The Holy Cross Foundation's revenue in 2022 was $1,002,642.
Official website here: www.theformationfoundation.org
Who are the executives of Pontifical University Of The Holy Cross Foundation and what are their salaries?
The average compensation at Pontifical University Of The Holy Cross Foundation during 2022 was $72,550. There are 4 employees at Pontifical University Of The Holy Cross Foundation.
Here are 7 key members and their salaries:
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- Compensation: $6,087
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- Compensation: $110,000
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- Other: $0
Official website here: www.theformationfoundation.org
Where can I find the form 990 for Pontifical University Of The Holy Cross Foundation?
Pontifical University Of The Holy Cross Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.theformationfoundation.org
Learn more at the official website: www.theformationfoundation.org
Mission Statement of Pontifical University Of The Holy Cross Foundation
The Pontifical University of the Holy Cross Foundation is dedicated to supporting institutions that focus on ecclesiastical training and theological studies. In essence, its mission is to provide financial assistance to educational establishments that offer academic programs in the ecclesiastical disciplines, helping to cover expenses such as classroom space, library resources, infrastructure, and operational costs. By doing so, the foundation contributes to the advancement of theological knowledge and the preparation of individuals for roles within the religious community.
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Impact
August, 2024
The Pontifical University of the Holy Cross Foundation has a significant impact on supporting institutions that provide ecclesiastical training and theological studies. Through grants provided by the foundation, these institutions are able to enhance their academic training in ecclesiastical disciplines by securing classroom space, library resources, infrastructure improvements, and covering operating expenses. This support ultimately contributes to the advancement of theological education and the training of future religious leaders. The foundation's focus on international partnerships also helps in fostering global collaboration in theological studies and promoting cross-cultural understanding in the field.
This information is meant to be a general summary of Pontifical University Of The Holy Cross Foundation. 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: -$3,490
- Gross Receipts: $2,029,134
Assets and Liabilities:
- Total Assets: $2,693,727
- Total Liabilities: $44,124
- Net Assets: $2,649,603
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Organization Details
Founding Year
1987
Phone
(212) 297-6199Principal Officer
Colin K Howell
Main Address
420 LEXINGTON AVENUE 300, NEW YORK, NY, 10170
NTEE Category
Code: Q113 - International
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