Overview
What is Mcmahon-Parater Scholarship Foundation?
The Mcmahon-Parater Scholarship Foundation is a charitable organization based in Richmond, Virginia. Their primary focus is to offer financial assistance to Catholic schools situated within the geographical boundaries of the Roman Catholic Diocese of Richmond. The funds received are earmarked specifically for tuition assistance, benefiting both Catholic and non-Catholic families. By providing financial aid, the foundation aims to make tuition affordable for a wider range of families, fostering access to quality education for all.
Official website here: www.mcmahonparater.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97% (Four-Star out of Four Star rating)
The McMahon-Parater Scholarship Foundation has received an impressive Four-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. This high score is notably derived from a perfect accountability and finance score of 97%. Such a rating reflects the foundation's commitment to transparency and responsible financial practices, ensuring that funds are utilized effectively to support their mission.
One of the key strengths of the foundation is its governance structure, which includes 76% independent board members, showcasing a commitment to ethical oversight. The foundation also excels in financial management, with a remarkable program expense ratio of 93.25%, meaning that a substantial majority of its expenditures directly benefit its programs. Additionally, the foundation has demonstrated excellent fundraising efficiency, maintaining a low cost of fundraising at just $0.02 for every dollar raised.
Despite its strong performance, potential donors may want to consider the specific programs and impact of the foundation, as these metrics alone do not provide insight into the effectiveness of its scholarship initiatives. Overall, the McMahon-Parater Scholarship Foundation appears to be a well-managed organization with a strong focus on accountability and financial prudence.
This AI summary has been generated from information found on Charity Navigator.
Is Mcmahon-Parater Scholarship Foundation legitimate?
Mcmahon-Parater Scholarship Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mcmahon-Parater Scholarship 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mcmahonparater.org
What is the mission statement of Mcmahon-Parater Scholarship Foundation?
The McMahon-Parater Scholarship Foundation supports Catholic schools within a specified geographical area. Its mission is to provide financial assistance to these educational institutions, benefiting both Catholic and non-Catholic families. The foundation's funds are earmarked for tuition assistance, enabling families to reduce their tuition costs and make Catholic education more affordable. The aim is to help families from various backgrounds access quality education and enrich their children's lives through Catholic schools. By offering this assistance, the foundation plays a vital role in ensuring the continued success and inclusivity of these schools.
Official website here: www.mcmahonparater.org
Who is the CEO of Mcmahon-Parater Scholarship Foundation?
Margaret Keightley is the Executive Director of Mcmahon-Parater Scholarship Foundation.
Official website here: www.mcmahonparater.org
What is the revenue of Mcmahon-Parater Scholarship Foundation?
Mcmahon-Parater Scholarship Foundation's revenue in 2023 was $15,894,920.
Official website here: www.mcmahonparater.org
Who are the executives of Mcmahon-Parater Scholarship Foundation and what are their salaries?
There 10 volunteers at Mcmahon-Parater Scholarship Foundation.
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $137,029
- Other: $65,617
- Compensation: $0
- Related: $139,825
- Other: $41,255
- Compensation: $0
- Related: $28,874
- Other: $21,858
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $197,847
- Other: $52,610
Official website here: www.mcmahonparater.org
Where can I find the form 990 for Mcmahon-Parater Scholarship Foundation?
Mcmahon-Parater Scholarship Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mcmahonparater.org
Learn more at the official website: www.mcmahonparater.org
Mission Statement of Mcmahon-Parater Scholarship Foundation
The McMahon-Parater Scholarship Foundation is a charitable organization dedicated to assisting Catholic schools within the geographical boundaries of the Roman Catholic Diocese of Richmond. This foundation's mission is to provide financial aid to these schools, enabling them to offer more affordable tuition to families, regardless of their religious affiliation.
In practice, the McMahon-Parater Scholarship Foundation plays a pivotal role in making Catholic education accessible to a larger number of families. By providing tuition assistance, the foundation lightens the financial burden for both Catholic and non-Catholic families, ensuring that the cost of tuition remains within their reach. This commitment to financial aid is an essential initiative aimed at fostering educational opportunities for children in the community.
The McMahon-Parater Scholarship Foundation's dedication to supporting Catholic schools extends beyond just financial assistance. By marking the funds specifically for tuition assistance, the foundation enables these educational institutions to maintain their financial stability while keeping their tuition costs reasonable. Ultimately, the foundation's efforts contribute to the long-term success of Catholic schools and the students they serve.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The McMahon-Parater Scholarship Foundation significantly impacts families and Catholic schools within the Diocese of Richmond by providing vital financial assistance for tuition costs. Through its dedicated efforts, the foundation ensures that both Catholic and non-Catholic families can access quality education in Catholic schools. This support helps to reduce the financial burden of tuition, making it more affordable and accessible to a broader group of families, which ultimately fosters a diverse educational community. By focusing on tuition assistance, the foundation plays a crucial role in promoting and sustaining Catholic education, enhancing the learning experience for students while upholding the values and mission of the schools it supports.
This information is meant to be a general summary of Mcmahon-Parater Scholarship 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 2023.
- Investment Income: $176,152
- Gross Receipts: $33,783,403
Assets and Liabilities:
- Total Assets: $10,612,071
- Total Liabilities: $330,231
- Net Assets: $10,281,840
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2007
Phone
(804) 359-5661Principal Officer
Margaret Keightley
Main Address
7800 CAROUSEL LANE, RICHMOND, VA, 23294
Website
www.mcmahonparater.orgNTEE Category
Code: X192 - Religion related
If you are a representative of Mcmahon-Parater Scholarship Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.