Overview
What is St Theodore Catholic School Endowment Fund Inc?
St. Theodore Catholic School Endowment Fund Inc is a nonprofit organization located at 315 E Clark St, Albert Lea, MN 56007. Their mission is to establish a permanent endowment fund to support Catholic school education for members of St. Theodore Catholic Church. They achieve this goal by conducting a Scrip card program, where the proceeds are utilized to support St. Theodore Catholic School. The main objective of this fund is to ensure the continuous provision of quality Catholic education for the community's members.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star Rating)
The St Theodore Catholic School Endowment Fund Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The overall score reflects a strong Accountability & Finance score of 80%, which highlights the organization’s commitment to responsible management of its resources. This rating is based solely on its performance in this category, emphasizing the importance of financial transparency and proper governance in the nonprofit sector.
One of the key strengths of this organization is its independent board structure, with 100% independent members contributing to effective oversight. The fund has also demonstrated no material diversion of assets, which is a positive indicator of its integrity and trustworthiness. Additionally, the Fund’s high program expense ratio of 99.20% suggests that a significant portion of its resources is directed toward funding its mission, further reinforcing its commitment to effective charitable impact.
However, while the charity scores well in various governance areas, the single-focus rating leaves room for potential exploration of other performance aspects such as public engagement or fundraising efficiency. Overall, the St Theodore Catholic School Endowment Fund Inc appears to maintain effective financial practices, ensuring that funds are utilized predominantly for their intended purposes.
This AI summary has been generated from information found on Charity Navigator.
Is St Theodore Catholic School Endowment Fund Inc legitimate?
St Theodore Catholic School Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Theodore Catholic School Endowment Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of St Theodore Catholic School Endowment Fund Inc?
The mission of St Theodore Catholic School Endowment Fund Inc is to establish a permanent endowment fund, serving as a long-term source of financing, to support Catholic school education for the members of St. Theodore Catholic Church. This fund is aimed at ensuring the continuity and accessibility of quality Catholic education for the community. To support this mission, the organization conducts a Scrip Card Program, where funds are raised through shopping and dining, which are then channeled towards supporting St. Theodore Catholic School.
Who is the CEO of St Theodore Catholic School Endowment Fund Inc?
Michael Haag is the President of St Theodore Catholic School Endowment Fund Inc.
What is the revenue of St Theodore Catholic School Endowment Fund Inc?
St Theodore Catholic School Endowment Fund Inc's revenue in 2022 was $60,117.
Who are the executives of St Theodore Catholic School Endowment Fund Inc and what are their salaries?
There 1 volunteer at St Theodore Catholic School Endowment Fund Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for St Theodore Catholic School Endowment Fund Inc?
St Theodore Catholic School Endowment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Theodore Catholic School Endowment Fund Inc
St. Theodore Catholic School Endowment Fund Inc is dedicated to establishing a permanent endowment fund, with the primary objective of supporting Catholic school education for members of St. Theodore Catholic Church. This fund serves as a perpetual source of financial aid, ensuring the continuity of quality education for the church's congregation.
To achieve this mission, St. Theodore Catholic School Endowment Fund Inc implements various strategies. One of their key initiatives is the Scrip Card Program. Through this program, the organization encourages supporters to purchase gift cards from participating retailers. The proceeds generated from these purchases are then channeled towards supporting St. Theodore Catholic School, thereby contributing to the education of its students. This innovative approach not only provides financial assistance but also encourages community involvement and support for Catholic education.
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Impact
August, 2024
St Theodore Catholic School Endowment Fund Inc has a significant impact by establishing a permanent endowment fund to support Catholic school education for members of St. Theodore Catholic Church. Through activities like the SCRIP card program, the organization generates proceeds that directly benefit St. Theodore Catholic School in Albert Lea, MN. By providing financial support for Catholic education, this fund helps secure a strong foundation for the students and community members associated with the church.
This information is meant to be a general summary of St Theodore Catholic School Endowment Fund 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: $22,590
- Gross Receipts: $388,845
Assets and Liabilities:
- Total Assets: $1,003,205
- Total Liabilities: $548
- Net Assets: $1,002,657
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Organization Details
Founding Year
1994
Phone
(507) 373-0603Principal Officer
Michael Haag
Main Address
315 E CLARK ST, ALBERT LEA, MN, 56007
NTEE Category
Code: X22 - Religion related
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