Overview
What is Weaverland Financial Aid?
Weaverland Financial Aid is a nonprofit organization situated in Lititz, Pennsylvania. Its primary mission is to provide financial assistance to young individuals within the Weaverland Conference Mennonite community, enabling them to secure homes, farms, or businesses through low-interest loans. This program borrows funds from members of the Weaverland Conference Mennonite Church and re-lends them to the community's young Mennonite population. The objective is to preserve and uphold the religious beliefs, cultural traditions, and lifestyle of the Weaverland Conference Mennonite Church while allowing young individuals to establish themselves within the community. The program has extended loans to approximately 758 individuals, contributing to the growth and continuity of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
Weaverland Financial Aid has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates strong accountability and transparency, there are notable concerns regarding its financial health. The charity's program expense ratio is impressive at 96.73%, suggesting that a significant portion of its resources is directed toward its charitable activities. Additionally, the organization boasts a fully independent board, which enhances its governance structure.
However, the organization faces challenges with its high liabilities to assets ratio, recorded at 99.41%. This figure raises concerns about the charity's financial stability and ability to manage its debts effectively. While it excels in certain areas like board independence and having no material diversion of assets, these financial limitations should be considered by potential donors and stakeholders.
Overall, Weaverland Financial Aid demonstrates a commitment to accountability, but its financial challenges may impact its long-term sustainability. Potential supporters are encouraged to weigh both the strengths and limitations highlighted in the ratings before making contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Weaverland Financial Aid legitimate?
Weaverland Financial Aid is a legitimate nonprofit organization registered as a 501(c)(3) entity. Weaverland Financial Aid 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: $139,446
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Weaverland Financial Aid?
Weaverland Financial Aid, a program within the Weaverland Conference Mennonite Church, obtains funds from its members to lend to young individuals from the Mennonite community at a low interest rate. The primary objective of this program is to preserve and uphold the religious beliefs, cultural traditions, and lifestyle of the Weaverland Conference Mennonite Church. Additionally, the program aims to assist young Mennonite individuals in establishing themselves within the community. By providing financial aid, Weaverland Financial Aid contributes to the long-term sustainability and continuity of the Mennonite community's values and way of life.
Who is the CEO of Weaverland Financial Aid?
Raymond S Fox is the Chairman of Weaverland Financial Aid.
What is the revenue of Weaverland Financial Aid?
Weaverland Financial Aid's revenue in 2022 was $5,291,120.
Who are the executives of Weaverland Financial Aid and what are their salaries?
There 9 volunteers at Weaverland Financial Aid.
Here are 9 key members and their salaries:
- Compensation: $101,517
- Related: $0
- Other: $0
- Compensation: $37,929
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Weaverland Financial Aid?
Weaverland Financial Aid's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Weaverland Financial Aid
Weaverland Financial Aid, a program affiliated with the Weaverland Conference Mennonite Church, seeks to borrow funds from its members to lend to young individuals from the Mennonite community at a low interest rate. The primary goal of this program is to preserve and uphold the religious beliefs, cultural traditions, and lifestyle of the Weaverland Conference Mennonite Church. By providing financial assistance, Weaverland Financial Aid allows young Mennonites to establish themselves within the Weaverland Conference Mennonite community. This initiative serves as a means of fostering growth and continuity within the Mennonite community, ensuring its values and traditions are passed down to future generations.
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Impact
October, 2024
Weaverland Financial Aid plays a significant role in supporting young members of the Mennonite community by providing them with low-interest loans. By borrowing funds from members of the Weaverland Conference Mennonite Church, the program effectively facilitates financial opportunities for approximately 758 young individuals. These loans are crucial for helping them acquire homes, farms, and other business-related financing needs, which are essential for establishing themselves within the community.
This support not only aids in the personal and economic development of these young individuals but also contributes to preserving and maintaining the religious beliefs, cultural traditions, and lifestyle of the Weaverland Conference Mennonite Church. As these young Mennonites secure their financial footing, they are better equipped to uphold the values and practices important to their community, ensuring its continuity for future generations. The impact of Weaverland Financial Aid transcends financial assistance; it reinforces communal bonds and fosters cultural sustainability.
This information is meant to be a general summary of Weaverland Financial Aid. 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: $83,673
- Program Service Revenue: $5,207,447
- Gross Receipts: $5,291,120
Assets and Liabilities:
- Total Assets: $237,513,968
- Total Liabilities: $235,732,556
- Net Assets: $1,781,412
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - LOANS
Revenue
$5,164,729
BOOK SALES
Revenue
$42,718
Organization Details
Founding Year
1999
Phone
(717) 738-3614Principal Officer
Raymond S Fox
Main Address
1601 LINCOLN ROAD, LITITZ, PA, 17543
NTEE Category
Code: P60 - Human services
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