Overview
What is Lc Fund For Priestly Formation?
Lc Fund for Priestly Formation is a nonprofit organization with a mission to advance and strengthen educational institutions. Specifically, it focuses on nonprofit, parochial schools situated in the United States, Mexico, Brazil, and Italy. The organization's primary role is to provide financial assistance, transferring funds directly to the Legion schools that are either constructing new facilities or launching new programs. This support aids these educational institutions in furthering their educational purposes.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 71%, Two-Star out of Four Star rating.
The Lc Fund For Priestly Formation has received a score of 71%, indicating a moderate level of accountability and finance management. This score is derived solely from its accountability measures, reflecting a strong commitment to independent oversight with 100% of its board members being independent. The organization demonstrates excellent practices in areas such as conflict of interest policy and timely documentation of board meeting minutes.
Strengths highlighted include a high program expense ratio of 95.29%, which indicates that a significant portion of its funds is devoted to its mission-related activities. Additionally, the organization has shown no material diversion of assets, suggesting responsible management of its resources. However, while the overall score suggests adequate performance, the reliance on a single beacon score may limit the comprehensive evaluation of other operational aspects.
This AI summary has been generated from information found on Charity Navigator.
Is Lc Fund For Priestly Formation legitimate?
Lc Fund For Priestly Formation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lc Fund For Priestly Formation 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 Lc Fund For Priestly Formation?
The Lc Fund For Priestly Formation is dedicated to fostering and enhancing non-profit parochial schools situated in the United States, Mexico, Brazil, and Italy. Their primary objective is to provide financial aid directly to these schools, either by contributing to the construction of new facilities or by establishing new educational programs that align with their educational goals. This support aims to contribute to the overall improvement and development of these educational institutions.
Who is the CEO of Lc Fund For Priestly Formation?
P Jose Gerardo Cardenas is the President of Lc Fund For Priestly Formation.
What is the revenue of Lc Fund For Priestly Formation?
Lc Fund For Priestly Formation's revenue in 2022 was $6,359,818.
Who are the executives of Lc Fund For Priestly Formation and what are their salaries?
There 5 volunteers at Lc Fund For Priestly Formation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Lc Fund For Priestly Formation?
Lc Fund For Priestly Formation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lc Fund For Priestly Formation
The Lc Fund for Priestly Formation is an organization dedicated to advancing, enhancing, and aiding nonprofit parochial schools located in the United States, Mexico, Brazil, and Italy. Its mission involves directly transferring funds to these schools, specifically the Legion schools that are in the process of constructing new facilities or establishing new programs in line with their educational objectives. This support is instrumental in furthering the educational purposes of these schools, ultimately contributing to their growth and development.
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Impact
July, 2024
The impact of Lc Fund For Priestly Formation is significant in developing and supporting parochial schools located in the United States, Mexico, Brazil, and Italy. By transferring funds directly to these schools, the organization is contributing to the construction of new facilities and the establishment of new programs to further their educational purposes. This support helps in nurturing the growth and development of these schools, ultimately benefiting the communities they serve.
This information is meant to be a general summary of Lc Fund For Priestly Formation. 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: -$361,126
- Gross Receipts: $12,203,706
Assets and Liabilities:
- Total Assets: $11,375,575
- Total Liabilities: $10,293
- Net Assets: $11,365,282
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Organization Details
Founding Year
2014
Phone
(281) 759-6774Principal Officer
P Jose Gerardo Cardenas
Main Address
C/O R CASTRO 12335 SHADOWHOLLOW DR, Houston, TX, 77082
NTEE Category
Code: X20 - Religion related
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