Overview
What is Eder Financial Inc?
Eder Financial Inc, located at 1505 Dundee Avenue, Elgin, IL, is a nonprofit organization dedicated to supporting the financial well-being of the Church of the Brethren and like-minded denominations and groups. With a team of 35 employees, they offer programs that provide retirement and medical benefits for ordained and lay pastors, church workers, and employees of congregations, districts, camps, agencies, and affiliated organizations within these denominations. Eder Financial, Inc. aims to enhance the financial security of those individuals who serve and contribute to their religious communities.
Official website here: www.ederfinancial.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating
Eder Financial Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity's overall score is primarily derived from its excellent accountability metrics, which indicate transparency and responsible management of funds. A significant highlight is the organization's 100% independent board, showcasing a commitment to governance and oversight.
The financial health of Eder Financial Inc is further evidenced by its impressive program expense ratio of 91.04%, indicating that the majority of its funds are directed towards its mission-related activities. Additionally, the organization's excellent liabilities to assets ratio of 0.68% suggests a sound financial position, which is reassuring for potential donors and stakeholders.
However, it's worth noting that while the organization has robust policies in most areas, it lacks a whistleblower policy, which is critical for fostering an environment of accountability and ethical conduct. This absence could be seen as a limitation, but overall, Eder Financial Inc demonstrates a strong commitment to financial stewardship and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Eder Financial Inc legitimate?
Eder Financial Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eder Financial Inc 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: $756,983
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,566,954
For more financial information, click here
Official website here: www.ederfinancial.org
What is the mission statement of Eder Financial Inc?
Eder Financial Inc is committed to enhancing the financial well-being of the Church of the Brethren and like-minded organizations and individuals. They achieve this goal by offering retirement and medical benefits programs to ministers, missionaries, and lay employees of certain churches and church-related agencies. The scope of their support extends beyond the Church of the Brethren to include denominations and groups with similar values. Through these programs, they aim to provide financial security to those who dedicate their lives to serving their faith and communities.
Official website here: www.ederfinancial.org
Who is the CEO of Eder Financial Inc?
Nevin Dulabaum is the President of Eder Financial Inc.
Official website here: www.ederfinancial.org
What is the revenue of Eder Financial Inc?
Eder Financial Inc's revenue in 2022 was $33,092,663.
Official website here: www.ederfinancial.org
Who are the executives of Eder Financial Inc and what are their salaries?
The average compensation at Eder Financial Inc during 2022 was $66,398. There are 35 employees and 12 volunteers at Eder Financial Inc.
Here are 21 key members and their salaries:
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- Other: $47,314
Official website here: www.ederfinancial.org
Where can I find the form 990 for Eder Financial Inc?
Eder Financial Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ederfinancial.org
Learn more at the official website: www.ederfinancial.org
Mission Statement of Eder Financial Inc
Eder Financial Inc, a notable organization, is dedicated to enhancing the financial well-being of the Church of the Brethren and like-minded individuals and groups through various programs. The primary focus of Eder Financial lies in offering retirement and medical benefits to ordained and lay pastors, church workers, and employees of congregations, districts, camps, agencies, and affiliated organizations that align with the values of the Church of the Brethren.
In more explicit terms, Eder Financial Inc serves as a vital support system by providing essential retirement benefits to the clergy and church personnel of the Church of the Brethren and similar denominations and affiliations. This nonprofit organization extends its reach beyond the church, offering benefits to employees of various church-related agencies and organizations, all in pursuit of securing their financial future.
In addition to its retirement program, Eder Financial Inc also prioritizes the health and well-being of its beneficiaries. By providing medical benefits, the organization ensures that those it serves have access to necessary healthcare services, ultimately contributing to their overall well-being and peace of mind. This comprehensive approach to financial and health support, tailored to the Church of the Brethren and its related organizations, is what sets Eder Financial Inc apart as a compassionate and dedicated partner.
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Impact
October, 2024
Eder Financial Inc significantly impacts the financial well-being of the Church of the Brethren and similar organizations by providing essential retirement, medical, and financial aid benefits to ministers, missionaries, and lay employees. Its programs are tailored to support those dedicated to service within the church and affiliated agencies, ensuring their financial security in both their working years and retirement.
By focusing on the unique needs of church workers, Eder Financial Inc fosters a stable and supportive environment that allows these individuals to focus on their spiritual and community roles rather than financial uncertainties. This commitment not only enhances the quality of life for those within the Church of the Brethren but also strengthens the broader community by enabling these individuals to continue their service with peace of mind regarding their financial futures.
Located in Elgin, IL, Eder Financial Inc serves as a vital resource for many, promoting mutual benefit and solidarity among groups that share similar values. Through its various financial programs, the organization plays a crucial role in sustaining the livelihoods of those who contribute significantly to their communities and the church at large.
This information is meant to be a general summary of Eder Financial Inc. 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: $19,011,565
- Program Service Revenue: $12,387,937
- Gross Receipts: $658,426,306
Assets and Liabilities:
- Total Assets: $407,342,243
- Total Liabilities: $2,771,438
- Net Assets: $404,570,805
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PENSION CONTRIBUTIONS
Revenue
$8,432,493
INSURANCE PREMIUMS
Revenue
$3,760,087
CWAP CONTRIBUTIONS
Revenue
$195,357
Organization Details
Founding Year
1989
Phone
(847) 695-0200Principal Officer
Nevin Dulabaum
Main Address
1505 DUNDEE AVENUE, ELGIN, IL, 60120
Website
www.ederfinancial.orgNTEE Category
Code: Y20 - Mutual benefit
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