Overview
What is Robert J Loftus Endowment & Scholarship Fund?
The Robert J Loftus Endowment & Scholarship Fund is a charitable organization located in Mount Prospect, Illinois. Its primary mission is to offer financial aid to families who require assistance, enabling them to enroll their children in St. Raymond Catholic School. This private educational institution provides a faith-based education, and the endowment fund partially covers the tuition costs to ensure accessibility for families in need. The fund's activities are centered around providing scholarships, supporting the community, and promoting religious education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Robert J Loftus Endowment & Scholarship Fund has achieved an impressive rating of 94%, highlighting its strong commitment to accountability and financial health. The charity's score is derived solely from its Accountability & Finance metrics, indicating a robust operational structure and transparency in its financial dealings.
The organization boasts a fully independent board, with all ten members free from any conflicts of interest. It has effectively implemented key governance policies such as a conflict of interest policy, a whistleblower policy, and established practices for document retention, all of which contribute to its high score. Additionally, the charity maintains a zero liabilities to assets ratio, showcasing its financial stability.
While the fund excels in program expenses, with over 82% of its expenditures directed towards its mission, there are no noted limitations in the available data. This suggests that the Robert J Loftus Endowment & Scholarship Fund is well-managed and focused on fulfilling its charitable objectives effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Robert J Loftus Endowment & Scholarship Fund legitimate?
Robert J Loftus Endowment & Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Robert J Loftus Endowment & Scholarship Fund 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
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What is the mission statement of Robert J Loftus Endowment & Scholarship Fund?
The Robert J Loftus Endowment & Scholarship Fund's mission is to offer partial scholarships to families in need, enabling them to send their children to Saint Raymond School. This private Catholic school provides a faith-based education. The endowment aims to alleviate financial burdens associated with tuition costs, thereby ensuring that children can benefit from this educational institution. The fund's purpose is to make quality education more accessible to families who might otherwise be unable to afford it.
Who is the CEO of Robert J Loftus Endowment & Scholarship Fund?
James Mcgough is the President/Director of Robert J Loftus Endowment & Scholarship Fund.
What is the revenue of Robert J Loftus Endowment & Scholarship Fund?
Robert J Loftus Endowment & Scholarship Fund's revenue in 2022 was $53,584.
Who are the executives of Robert J Loftus Endowment & Scholarship Fund and what are their salaries?
There 7 volunteers at Robert J Loftus Endowment & Scholarship Fund.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Robert J Loftus Endowment & Scholarship Fund?
Robert J Loftus Endowment & Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Robert J Loftus Endowment & Scholarship Fund
The Robert J Loftus Endowment & Scholarship Fund is dedicated to providing partial financial assistance to families who require financial aid, enabling them to enroll their children in Saint Raymond School. This private Catholic institution serves as a beacon for faith-based education. By offering financial aid, the fund helps families overcome financial barriers, ensuring that their children can benefit from the educational opportunities provided by Saint Raymond School. The mission of the Robert J Loftus Endowment & Scholarship Fund is to contribute to the well-being of families and the future of their children by making a faith-based education more accessible.
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Impact
August, 2024
The impact of the Robert J Loftus Endowment & Scholarship Fund is significant in providing financial assistance to families requiring help to send their children to Saint Raymond School. By offering partial scholarships, the fund enables these families to access a private Catholic education for their children at St. Raymond Catholic School in Mount Prospect, IL. This support not only helps families in need but also contributes to enriching the educational experience and fostering a faith-based environment for the students.
This information is meant to be a general summary of Robert J Loftus Endowment & Scholarship Fund. 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: $37,522
- Gross Receipts: $70,430
Assets and Liabilities:
- Total Assets: $1,057,892
- Total Liabilities: $0
- Net Assets: $1,057,892
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Organization Details
Founding Year
1987
Phone
(847) 235-3608Principal Officer
James Mcgough
Main Address
300 SOUTH ELMHURST ROAD, MOUNT PROSPECT, IL, 60056
NTEE Category
Code: B82 - Education
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