Overview
What is Matrix Ministries Corporation?
Matrix Ministries Corporation is a not-for-profit organization committed to aiding other charitable entities. Their mission involves offering services that align with the objectives of these approved organizations, as well as contributing to orphanages. They extend their assistance through various programs, including rendering services to fellow IRS-certified nonprofits and making charitable donations to orphanages.
Official website here: www.matrixministries.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 59%, One-Star out of Four Star rating.
Matrix Ministries Corporation has received a score of 59%, indicating significant room for improvement in its financial accountability and transparency practices. While the organization boasts a fully independent board and has no material diversion of assets, it lacks critical policies such as a whistleblower policy and a document retention and destruction policy, which are important for governance and transparency.
The organization’s program expense ratio stands at 50.50%, which suggests that only half of its expenditures are directed toward its programs, raising concerns about its efficiency in using funds for its intended charitable purposes. However, the presence of 100% independent board members and documented board meeting minutes show a commitment to some aspects of accountability.
In summary, while Matrix Ministries Corporation demonstrates strengths in governance through an independent board, it faces challenges in financial transparency and program effectiveness that potential donors and supporters may want to consider. Overall, the current rating reflects a need for enhanced policies and a more efficient allocation of resources to better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Matrix Ministries Corporation legitimate?
Matrix Ministries Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Matrix Ministries 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: $43,280
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.matrixministries.org
What is the mission statement of Matrix Ministries Corporation?
Matrix Ministries Corporation's mission is centered around assisting various not-for-profit organizations. It achieves this by offering services that align with the recipients' missions. One of their programs involves providing assistance to IRS-approved not-for-profit organizations. Additionally, Matrix Ministries Corporation extends its support by donating to orphanages. The organization's goal is to aid these organizations in fulfilling their respective missions and making a positive impact in their respective communities.
Official website here: www.matrixministries.org
Who is the CEO of Matrix Ministries Corporation?
Ray Young is the President of Matrix Ministries Corporation.
Official website here: www.matrixministries.org
What is the revenue of Matrix Ministries Corporation?
Matrix Ministries Corporation's revenue in 2023 was $156,152.
Official website here: www.matrixministries.org
Who are the executives of Matrix Ministries Corporation and what are their salaries?
The average compensation at Matrix Ministries Corporation during 2023 was $43,280. There is 1 employee and 50 volunteers at Matrix Ministries Corporation.
Here are 4 key members and their salaries:
- Compensation: $43,280
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.matrixministries.org
Where can I find the form 990 for Matrix Ministries Corporation?
Matrix Ministries Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.matrixministries.org
Learn more at the official website: www.matrixministries.org
Mission Statement of Matrix Ministries Corporation
Matrix Ministries Corporation is dedicated to aiding other non-profit organizations in achieving their missions. This assistance takes various forms, including offering services that align with the recipient organizations' objectives and making donations to orphanages. The corporation's mission is to act as a supportive partner, contributing to the success and growth of other not-for-profit entities. By providing services and support, Matrix Ministries Corporation aims to foster a collaborative environment where non-profit organizations can thrive and make a positive impact in their respective communities.
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Impact
October, 2024
Matrix Ministries Corporation significantly impacts the philanthropic landscape by partnering with and supporting other not-for-profit organizations. By offering tailored services that align with the missions of these organizations, Matrix Ministries enhances their operational effectiveness and broadens their outreach capabilities.
One of the key components of its impact is the provision of services to IRS-approved organizations, which helps to streamline their efforts and maximize the effectiveness of their programs. Additionally, Matrix Ministries extends its reach by donating to orphanages, thus directly contributing to the well-being of vulnerable children and facilitating essential support for their care and development.
Based in Allen, TX, Matrix Ministries Corporation exemplifies a commitment to fostering collaboration among not-for-profits, ultimately empowering them to achieve their goals and serve their communities more effectively.
This information is meant to be a general summary of Matrix Ministries 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 2023.
- Investment Income: $9
- Gross Receipts: $263,536
Assets and Liabilities:
- Total Assets: $81,213
- Total Liabilities: $1,737
- Net Assets: $79,476
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Organization Details
Phone
(214) 293-2626Principal Officer
Ray Young
Main Address
742 Pulitzer Lane, Allen, TX, 75002
Website
www.matrixministries.orgNTEE Category
Code: T40 - Philanthropy
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