Overview
What is Mater Ecclesiae Fund For Vocations Inc?
Mater Ecclesiae Fund For Vocations Inc is a nonprofit organization based in Esmont, Virginia. Its primary mission is to support individuals with vocations to the Catholic religious life, such as those in monasteries or communities with vows of poverty, chastity, and obedience, as well as those in societies of apostolic life without such vows. The organization offers the St. Joseph Student Debt Relief Grant Program, which aided 22 men and 86 women in 2021, enabling them to pursue or continue their religious formation despite pre-existing student loans. With a staff of three, Mater Ecclesiae Fund For Vocations Inc pursues this objective to increase the number of individuals in Catholic religious life.
Official website here: www.fundforvocations.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star rating.
Mater Ecclesiae Fund For Vocations Inc has achieved a perfect score, indicating a strong commitment to accountability and financial health. The organization's high rating is largely due to its excellent management practices and transparency, with all financial statements audited and no material diversions of assets reported.
The nonprofit boasts a fully independent board, with 87% of its members being independent, ensuring unbiased governance. It also adheres to several best practices, including having a conflict of interest policy and a whistleblower policy in place. With a program expense ratio of 78.67%, the majority of its funds are directed toward its mission, reflecting effective resource allocation.
Overall, the Mater Ecclesiae Fund demonstrates strong fiscal responsibility and governance, making it a trustworthy organization for potential donors and beneficiaries.
This AI summary has been generated from information found on Charity Navigator.
Is Mater Ecclesiae Fund For Vocations Inc legitimate?
Mater Ecclesiae Fund For Vocations Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mater Ecclesiae Fund For Vocations 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: $173,234
Professional Fundraising Fees: $6,569
Other Salaries and Wages: $40,000
For more financial information, click here
Official website here: www.fundforvocations.org
What is the mission statement of Mater Ecclesiae Fund For Vocations Inc?
The Mater Ecclesiae Fund for Vocations has a mission to enhance the number of individuals pursuing Catholic religious life. This is achieved by granting financial aid to individuals with vocations, who are hindered by their pre-existing student loans from starting or continuing their religious formation. The Fund operates the St. Joseph Student Debt Relief Grant Program, which provides assistance to men and women with vocations, including those in monasteries, religious communities, and societies of apostolic life, who are facing financial constraints due to student loans. In 2021, the program benefited 22 men and 86 women. The goal of the Fund is to alleviate financial burdens and facilitate the growth of the Catholic religious life.
Official website here: www.fundforvocations.org
Who is the CEO of Mater Ecclesiae Fund For Vocations Inc?
Anne Folan is the President of Mater Ecclesiae Fund For Vocations Inc.
Official website here: www.fundforvocations.org
What is the revenue of Mater Ecclesiae Fund For Vocations Inc?
Mater Ecclesiae Fund For Vocations Inc's revenue in 2022 was $861,372.
Official website here: www.fundforvocations.org
Who are the executives of Mater Ecclesiae Fund For Vocations Inc and what are their salaries?
The average compensation at Mater Ecclesiae Fund For Vocations Inc during 2022 was $71,078. There are 3 employees and 13 volunteers at Mater Ecclesiae Fund For Vocations Inc.
Here are 10 key members and their salaries:
- Compensation: $162,220
- Related: $0
- Other: $13,850
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fundforvocations.org
Where can I find the form 990 for Mater Ecclesiae Fund For Vocations Inc?
Mater Ecclesiae Fund For Vocations Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fundforvocations.org
Learn more at the official website: www.fundforvocations.org
Mission Statement of Mater Ecclesiae Fund For Vocations Inc
Mater Ecclesiae Fund for Vocations, a nonprofit organization, is committed to enhancing the number of individuals with vocations to the Catholic religious life. Its mission lies in providing financial aid to men and women who are hindered from embarking on or continuing their religious formation due to their pre-existing student loans. The organization operates the St. Joseph Student Debt Relief Grant Program, which extends its support to individuals who have a calling to the Catholic religious life, encompassing monasteries and religious communities that adhere to vows of poverty, chastity, and obedience, as well as Societies of Apostolic Life, whose members do not take such vows. In 2021, the fund extended its assistance to 22 men and 86 women through this program, contributing to their journey towards fulfilling their vocational callings in the Catholic religious life.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Mater Ecclesiae Fund for Vocations Inc's impact can be seen in its efforts to support individuals who have vocations to the Catholic religious life, but are hindered by student loans from pursuing or continuing their formation. By operating the St. Joseph Student Debt Relief Grant Program, the Fund has provided assistance to both men and women looking to enter religious life, including those in monasteries, communities, and Societies of Apostolic Life.
In 2021 alone, the Fund awarded grants to 22 men and 86 women, helping them overcome financial barriers and enabling them to follow their call to religious life. Through its mission to increase the number of individuals entering Catholic religious life, the Mater Ecclesiae Fund for Vocations Inc plays a crucial role in supporting those with vocations who may otherwise struggle to overcome the burden of student loans.
This information is meant to be a general summary of Mater Ecclesiae Fund For Vocations 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: $2,392
- Gross Receipts: $884,280
Assets and Liabilities:
- Total Assets: $1,032,199
- Total Liabilities: $17,679
- Net Assets: $1,014,520
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2006
Phone
(877) 556-6338Principal Officer
Anne Folan
Main Address
9243 Old Green Mountain Road, Esmont, VA, 22937
Website
www.fundforvocations.orgNTEE Category
Code: X20 - Religion related
If you are a representative of Mater Ecclesiae Fund For Vocations Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.