Overview
What is St Francis Residence Trust?
St. Francis Residence Trust is a nonprofit organization situated in New York City, specifically at 155 West 22nd Street, Second Floor. Its primary mission is to safeguard and maintain the investment assets of St. Francis Friends of the Poor, Inc., another nonprofit entity. The Trust's purpose is to support and contribute to the overall objectives of St. Francis Friends of the Poor, Inc., without providing specific details on those objectives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0%
St Francis Residence Trust has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The charity scored only 12% overall, with particularly low scores for board independence, financial transparency, and essential governance policies. These deficiencies raise serious questions about the organization's operational integrity and adherence to best practices in nonprofit management.
The organization lacks independent board members, with a score of 0% in that area, which could lead to potential conflicts of interest and diminished oversight. Furthermore, critical financial documentation, such as financial statements and tax forms, is missing, which is a significant red flag for donors seeking to understand how their contributions are being utilized.
While St Francis Residence Trust has documented board meeting minutes, the absence of essential policies regarding conflict of interest, whistleblower protections, and document retention suggests inadequate governance structures. Overall, the charity's performance highlights substantial areas for improvement, particularly in transparency and accountability, which are essential for sustaining donor trust and fulfilling mission objectives.
This AI summary has been generated from information found on Charity Navigator.
Is St Francis Residence Trust legitimate?
St Francis Residence Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Francis Residence Trust 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 St Francis Residence Trust?
The St. Francis Residence Trust is established with a mission to preserve the investment assets of St. Francis Friends of the Poor, Inc. This mission is aimed at supporting the financial needs of St. Francis Friends of the Poor, Inc. in an indirect manner, by supplementing their costs. The trust does not have a direct service mission or a focus on providing aid or support to a specific group or community. Instead, its primary objective is to safeguard the financial resources of St. Francis Friends of the Poor, Inc. for future use.
Who is the CEO of St Francis Residence Trust?
Fr Thomas Walters is the Trustee of St Francis Residence Trust.
What is the revenue of St Francis Residence Trust?
St Francis Residence Trust's revenue in 2022 was $1,625,754.
Who are the executives of St Francis Residence Trust and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $150,664
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for St Francis Residence Trust?
St Francis Residence Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Francis Residence Trust
St. Francis Residence Trust is an organization with a mission to preserve the investment assets of St. Francis Friends of the Poor, Inc. In simpler terms, the primary role of St. Francis Residence Trust is to support the financial well-being of St. Francis Friends of the Poor, Inc. by managing and safeguarding its investment assets effectively. This partnership ensures that St. Francis Friends of the Poor, Inc. can continue to fulfill its own mission of providing aid to those in need, preserving the investment assets being a critical element in supplementing its operational costs.
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Impact
July, 2024
St Francis Residence Trust's impact lies in its ability to preserve investment assets for St Francis Friends of the Poor, Inc. This support supplements the costs of St Francis Friends of the Poor, Inc., allowing them to continue their philanthropic mission in New York. Through its work, St Francis Residence Trust contributes to the sustainability and growth of the organization's efforts to help those in need.
This information is meant to be a general summary of St Francis Residence Trust. 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: $1,625,754
- Gross Receipts: $5,724,763
Assets and Liabilities:
- Total Assets: $18,003,936
- Total Liabilities: $0
- Net Assets: $18,003,936
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Organization Details
Founding Year
2014
Phone
(212) 736-8500Principal Officer
Fr Thomas Walters
Main Address
155 WEST 22ND STREET 2ND FL, NEW YORK, NY, 10011
NTEE Category
Code: T12 - Philanthropy
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