Overview
What is Conservative Mennonite Financial?
Conservative Mennonite Financial is a nonprofit organization situated in Lebanon, Pennsylvania. It extends loans to young individuals within the Conservative Mennonite Church community, aiding them in purchasing homes, farms, or securing financing for business ventures. This program borrows funds from members of the Conservative Mennonite Church and re-lends them at a low interest rate. The primary objective is to preserve and uphold the religious beliefs, cultural traditions, and lifestyle of the Conservative Mennonite Church, while simultaneously enabling young Mennonite individuals to establish themselves within this community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating
Conservative Mennonite Financial has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The charity scores particularly well in areas such as board independence and financial oversight, with 100% independent board members and no material diversion of assets reported. However, the overall score is hampered by a lack of certain policies and documentation, which are critical for transparency and governance.
The organization excels in its program expense ratio, at 94.22%, suggesting that a significant portion of its expenses are directed towards its charitable programs. The audit and oversight committee also scored highly, reflecting strong financial practices. However, the absence of a whistleblower policy and missing document retention guidelines raise concerns about the organization's commitment to ethical governance.
Despite its strengths in financial management and board independence, the lack of transparency regarding essential policies and documentation limits its overall rating. Prospective donors may wish to consider these factors when assessing the charity's operational effectiveness and commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Conservative Mennonite Financial legitimate?
Conservative Mennonite Financial is a legitimate nonprofit organization registered as a 501(c)(3) entity. Conservative Mennonite Financial 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: $14,017
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Conservative Mennonite Financial?
Conservative Mennonite Financial, a program within the Conservative Mennonite Church, lends funds from its members to young individuals in the community at a low interest rate. The primary purpose of this program is to support and preserve the religious beliefs, cultural traditions, and lifestyle of the Conservative Mennonite Church. Additionally, it aids young Mennonite individuals in establishing themselves within the Conservative Mennonite community. By offering affordable loans, the program contributes to the continuity and strengthening of the Conservative Mennonite community's values and identity.
Who is the CEO of Conservative Mennonite Financial?
Glenn M Zimmerman is the Administrato of Conservative Mennonite Financial.
What is the revenue of Conservative Mennonite Financial?
Conservative Mennonite Financial's revenue in 2022 was $1,279,153.
Who are the executives of Conservative Mennonite Financial and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $14,017
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- Other: $0
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Where can I find the form 990 for Conservative Mennonite Financial?
Conservative Mennonite Financial's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Conservative Mennonite Financial
Conservative Mennonite Financial, a program within the Conservative Mennonite Church, collects funds from its members to offer low-interest loans to young individuals in the community who share the same religious beliefs, cultural traditions, and lifestyle. The primary objective of this program is twofold: firstly, to preserve and uphold the religious beliefs and cultural heritage of the Conservative Mennonite Church; secondly, to assist young Mennonite individuals in establishing themselves within this community. By providing financial assistance at reasonable rates, Conservative Mennonite Financial facilitates the integration of young members into the community, thereby fostering the continuation of the Conservative Mennonite Church's values and customs.
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Impact
July, 2024
Conservative Mennonite Financial's impact lies in its ability to support and empower young Mennonite individuals within the community. By borrowing funds from members of the Conservative Mennonite Church and re-lending at low interest rates, the program facilitates the acquisition of homes, farms, and other business-related financing needs for young Mennonites. This enables them to establish themselves within the Conservative Mennonite community, preserving religious beliefs, cultural traditions, and lifestyle. Through these financial opportunities, Conservative Mennonite Financial plays a crucial role in sustaining and strengthening the fabric of the Conservative Mennonite Church community in Lebanon, PA.
This information is meant to be a general summary of Conservative Mennonite Financial. 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: $51,439
- Program Service Revenue: $1,227,714
- Gross Receipts: $1,279,153
Assets and Liabilities:
- Total Assets: $48,647,003
- Total Liabilities: $48,087,486
- Net Assets: $559,517
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - LOANS
Revenue
$1,227,714
Organization Details
Founding Year
2012
Phone
(610) 286-7051Principal Officer
Glenn M Zimmerman
Main Address
1475 COLEBROOK RD, LEBANON, PA, 17042
NTEE Category
Code: W99 - Public benefit
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