Overview
What is Bishop Gorman Development Corporation?
The Bishop Gorman Development Corporation is a not-for-profit organization headquartered at 336 Cathedral Way, Las Vegas, Nevada, 89109. Its primary mission is to raise funds, construct, and lease a campus to the Roman Catholic Diocese of Las Vegas, enabling them to operate a high school. This collaboration between the corporation and the affiliated diocese results in the establishment and operation of Bishop Gorman High School in Las Vegas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
The Bishop Gorman Development Corporation has received a Three-Star rating from Charity Navigator, indicating a decent level of accountability and financial health. The score reflects strong governance practices, as evidenced by the presence of a fully independent board and robust financial oversight measures. However, the overall score is somewhat limited by its dependence on a single beacon score, focusing exclusively on accountability and finance.
Strengths of the organization include high program expense ratios, suggesting that a significant portion of their funds is directed toward their programs rather than administrative costs. It has also demonstrated solid financial practices, including a strong working capital ratio and effective policies for conflict of interest, whistleblower protections, and document management. These factors contribute positively to its overall stability and operational transparency.
On the downside, the organization has shown weaknesses in fundraising efficiency, which may hinder its ability to sustain or expand its programs without increased financial input. Additionally, the liabilities-to-assets ratio indicates potential financial strain, suggesting that while the organization is currently stable, it may face challenges in the future if not addressed. Overall, Bishop Gorman Development Corporation appears to function effectively but could benefit from improvements in certain financial aspects.
This AI summary has been generated from information found on Charity Navigator.
Is Bishop Gorman Development Corporation legitimate?
Bishop Gorman Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bishop Gorman Development Corporation 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 Bishop Gorman Development Corporation?
The Bishop Gorman Development Corporation is a not-for-profit organization dedicated to realizing the dream of constructing a campus and raising funds for an affiliated Roman Catholic diocese. Its primary objective is to build and lease a campus that will operate as a high school. This corporation serves as a catalyst for the realization of a valuable educational institution within the community. By financing the construction of the school's facilities, the Bishop Gorman Development Corporation paves the way for the Roman Catholic Diocese to provide quality education to students. Its mission ultimately aims to contribute to the community by fostering the growth of a thriving educational institution.
Who is the CEO of Bishop Gorman Development Corporation?
Deacon Aruna Silva is the Treasurer & of Bishop Gorman Development Corporation.
What is the revenue of Bishop Gorman Development Corporation?
Bishop Gorman Development Corporation's revenue in 2022 was $13,119,971.
Who are the executives of Bishop Gorman Development Corporation and what are their salaries?
There 4 volunteers at Bishop Gorman Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $201,578
- Other: $22,672
- Compensation: $0
- Related: $83,261
- Other: $6,892
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bishop Gorman Development Corporation?
Bishop Gorman Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bishop Gorman Development Corporation
Bishop Gorman Development Corporation (BGDC), a not-for-profit organization, is dedicated to raising funds, constructing a campus, and leasing a facility to the Roman Catholic Diocese in the United States for the operation of a high school. This mission is geared towards creating an educational environment for students under the auspices of the Roman Catholic Church.
BGDC's commitment to the community involves more than just fundraising and construction. The organization takes an active role in facilitating the establishment of a high school campus for the Diocese. Once completed, the facility will be leased to the Roman Catholic Bishop of the diocese for them to manage and operate the school effectively. This collaborative effort between the corporation and the Diocese ultimately benefits the students and the community by providing them with a top-notch educational experience.
BGDC's work is rooted in the belief that education plays a crucial role in shaping the future of individuals and communities. By partnering with the Roman Catholic Diocese and investing in the construction of a high school campus, BGDC is making a significant contribution to the educational landscape and the lives of countless students. The organization's mission to support the growth and success of a high school through fundraising, building, and leasing a campus embodies its dedication to fostering opportunities for learning and personal growth.
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Impact
October, 2024
Bishop Gorman Development Corporation plays a crucial role in enhancing educational opportunities within the Las Vegas community. By raising funds, constructing, and leasing a state-of-the-art campus for the affiliated Roman Catholic Diocese, it facilitates the operation of Bishop Gorman High School. This institution not only provides a quality education rooted in Roman Catholic values but also contributes to the overall development and enrichment of students' lives in the region. The corporation's efforts help foster a sense of community, support local families seeking a faith-based education, and promote the values of service and leadership among young people. Ultimately, the impact of Bishop Gorman Development Corporation extends beyond education; it nurtures a well-rounded community by instilling important moral and ethical principles in future generations.
This information is meant to be a general summary of Bishop Gorman Development Corporation. 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: $217,880
- Program Service Revenue: $1,678,703
- Gross Receipts: $13,119,971
Assets and Liabilities:
- Total Assets: $46,905,032
- Total Liabilities: $32,092,042
- Net Assets: $14,812,990
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAMMATIC RENT
Revenue
$1,678,703
Organization Details
Founding Year
2003
Principal Officer
Deacon Aruna Silva
Main Address
336 CATHEDRAL WAY, LAS VEGAS, NV, 89109
NTEE Category
Code: W11 - Public benefit
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