Overview
What is Congregational Investment Trust Co Community Bank Trust Department?
The Congregational Investment Trust Co Community Bank Trust Department is a nonprofit organization located in Olean, New York, with an address at 201 North Union Street. Their primary mission is to offer support to a variety of Christian organizations that fall under the umbrella of the Congregational Investment Trust. This assistance is aimed at enhancing the operations and impact of these Christian organizations within their respective communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 71%)
The Congregational Investment Trust Co Community Bank Trust Department has received a "Needs Improvement" rating from Charity Navigator, scoring 71%. This rating reflects the organization’s accountability and financial health, indicating that while it meets several key standards, there are areas for growth. The financial metrics suggest a strong commitment to program spending, with a program expense ratio of 90.44%, signaling effective use of funds toward its mission.
Organizational strengths include having a fully independent board, demonstrated by 100% independent members, and no reported material diversion of assets, showcasing a commitment to governance and ethical operation. The conflict of interest policy is well established, and the organization maintains transparency by documenting board meeting minutes. The low liabilities to assets ratio of 0.17% further indicates sound financial management.
However, the overall rating suggests that improvements are necessary to enhance the organization's impact and sustainability. Stakeholders may want to consider these factors when evaluating their support or engagement with the organization, as continual improvement in operations and financial practices will be crucial for future success.
This AI summary has been generated from information found on Charity Navigator.
Is Congregational Investment Trust Co Community Bank Trust Department legitimate?
Congregational Investment Trust Co Community Bank Trust Department is a legitimate nonprofit organization registered as a 501(c)(3) entity. Congregational Investment Trust Co Community Bank Trust Department 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: $34,408
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Congregational Investment Trust Co Community Bank Trust Department?
The Congregational Investment Trust Co Community Bank Trust Department's mission is centered around providing support for the diverse range of Christian organizations that form part of the Congregational Investment Trust. This mission is carried out with the aim of fostering and nurturing these organizations within the trust. The department's activities are geared towards ensuring the growth and success of these Christian organizations, thereby contributing to their collective impact.
Who is the CEO of Congregational Investment Trust Co Community Bank Trust Department?
Patrick Stewart is the Treasurer of Congregational Investment Trust Co Community Bank Trust Department.
What is the revenue of Congregational Investment Trust Co Community Bank Trust Department?
Congregational Investment Trust Co Community Bank Trust Department's revenue in 2023 was $840,253.
Who are the executives of Congregational Investment Trust Co Community Bank Trust Department and what are their salaries?
There 8 volunteers at Congregational Investment Trust Co Community Bank Trust Department.
Here are 12 key members and their salaries:
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Where can I find the form 990 for Congregational Investment Trust Co Community Bank Trust Department?
Congregational Investment Trust Co Community Bank Trust Department's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Congregational Investment Trust Co Community Bank Trust Department
The Congregational Investment Trust Co Community Bank Trust Department is committed to providing support for the diverse array of Christian organizations that make up the Congregational Investment Trust. This mission involves offering resources and assistance to these organizations, ensuring they can carry out their religious and charitable activities effectively. By providing this support, the Congregational Investment Trust Co Community Bank Trust Department plays a vital role in strengthening the Christian community and the important work carried out by its various organizations.
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Impact
July, 2024
Congregational Investment Trust Co Community Bank Trust Department's impact is primarily focused on providing support for the various Christian organizations that make up the Congregational Investment Trust. Their mission revolves around assisting these organizations in fulfilling their missions and objectives. By offering financial support and resources, they contribute to the growth and sustainability of Christian communities and their outreach efforts. Their work plays a vital role in strengthening the religious fabric of the communities they serve.
This information is meant to be a general summary of Congregational Investment Trust Co Community Bank Trust Department. 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: $562,030
- Gross Receipts: $1,342,075
Assets and Liabilities:
- Total Assets: $19,379,793
- Total Liabilities: $34,730
- Net Assets: $19,345,063
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Organization Details
Founding Year
1994
Phone
(716) 376-7235Principal Officer
Patrick Stewart
Main Address
201 NORTH UNION STREET, OLEAN, NY, 14760
NTEE Category
Code: X120 - Religion related
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