Overview
What is Endowment Fund Of The First Cong Church Of Algona?
The Endowment Fund of the First Congregational Church of Algona is a non-profit entity established to support the First Congregational Church, United Church of Christ, located in Algona, Iowa. The fund's primary purpose is to accept contributions that are then invested with the intention of generating funds for the church's operational expenses or capital improvements. The endowment trust is strictly prohibited from making grants to any entity or individual other than the church itself. The fund's main objective is to ensure the church's financial sustainability and growth.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
The Endowment Fund of the First Congregational Church of Algona has received a Three-Star rating from Charity Navigator, reflecting a solid performance in terms of accountability and finance. The charity's overall score is derived entirely from its Accountability & Finance score of 80%. This rating indicates a strong adherence to best practices in these areas, which is crucial for donor trust and sustainable operations.
One of the organization's notable strengths is its governance structure, with a fully independent board comprised of three members, contributing to transparency and impartial decision-making. Additionally, the organization has demonstrated effective financial management, with a program expense ratio of 94.76%, signifying that a significant portion of its funds is directed towards its mission-related activities. There are also no reported material diversions of assets, which further enhances its credibility.
While the organization has performed well in the areas measured, the rating solely reflects financial accountability and governance aspects. Potential donors may wish to look for further information on the charity's programmatic impact and community engagement to gain a more complete understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Endowment Fund Of The First Cong Church Of Algona legitimate?
Endowment Fund Of The First Cong Church Of Algona is a legitimate nonprofit organization registered as a 501(c)(3) entity. Endowment Fund Of The First Cong Church Of Algona 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
For more financial information, click here
What is the mission statement of Endowment Fund Of The First Cong Church Of Algona?
The Endowment Fund of the First Congregational Church United Church of Christ in Algona was established to collect contributions, which are then invested for the benefit of the church. Its primary role is to manage these funds and make grants to the church, either for its operating expenses or capital improvements. The fund is strictly prohibited from making grants to any entity or person beyond the church itself.
Who is the CEO of Endowment Fund Of The First Cong Church Of Algona?
Michael Schlievert is the Trustee of Endowment Fund Of The First Cong Church Of Algona.
What is the revenue of Endowment Fund Of The First Cong Church Of Algona?
Endowment Fund Of The First Cong Church Of Algona's revenue in 2022 was $67,600.
Who are the executives of Endowment Fund Of The First Cong Church Of Algona and what are their salaries?
There 8 volunteers at Endowment Fund Of The First Cong Church Of Algona.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Endowment Fund Of The First Cong Church Of Algona?
Endowment Fund Of The First Cong Church Of Algona's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Endowment Fund Of The First Cong Church Of Algona
The Endowment Fund of the First Congregational Church of Algona, United Church of Christ, was established with a mission to accept contributions and invest them for the benefit of the church itself. This nonprofit organization is tasked with managing these funds and distributing grants to the church, either for its operating expenses or capital improvements. It is important to note that the Endowment Fund is not authorized to make grants to any entity or individual outside of the church. The primary objective of this fund is to support and strengthen the First Congregational Church of Algona, Iowa, ensuring its continued growth and service to the community.
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Impact
October, 2024
The Endowment Fund of the First Congregational Church of Algona plays a crucial role in ensuring the sustainability and growth of the church's mission and activities. By accepting contributions and wisely investing those funds, it provides a stable financial foundation that allows the church to cover operating expenses and pursue necessary capital improvements.
This financial support enables the church to enhance its facilities, maintain its programs, and respond to the needs of the community it serves. Grants from the endowment can facilitate the development of new ministries, support outreach programs, and improve the church infrastructure, ultimately leading to a stronger, more vibrant congregation.
Moreover, the endowment fund fosters a spirit of generosity and stewardship among church members, encouraging them to invest in their community's spiritual and social well-being. Through its dedicated efforts, the Endowment Fund of the First Congregational Church significantly impacts not only the church itself but also the wider community in Algona, Iowa, bolstering the church's role as a center for fellowship, support, and spiritual growth.
This information is meant to be a general summary of Endowment Fund Of The First Cong Church Of Algona. 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: $17,550
- Gross Receipts: $157,885
Assets and Liabilities:
- Total Assets: $539,680
- Total Liabilities: $0
- Net Assets: $539,680
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Organization Details
Founding Year
1956
Phone
(515) 295-3565Principal Officer
Michael Schlievert
Main Address
C/O T BUCHANAN PO BOX 617, ALGONA, IA, 50511
NTEE Category
Code: X11 - Religion related
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