Overview
What is Bishop Charles P Greco Memorial Foundation?
The Bishop Charles P Greco Memorial Foundation is a nonprofit organization, primarily funded by individual members and local Councils of the Louisiana State Council, Knights of Columbus. Located at 111 Sybil Drive, Lafayette, LA 70507, its primary mission is to offer financial assistance to seminarians from Louisiana who are pursuing their priesthood studies at Catholic seminaries. The foundation equally distributes grants to each eligible seminary student, as reported by the Archdiocese of New Orleans and other Roman Catholic Dioceses in Louisiana.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement) - Score: 73%
The Bishop Charles P Greco Memorial Foundation has received a two-star rating from Charity Navigator, indicating that it needs improvement in its accountability and finance practices. With a score of 73%, the organization demonstrates strong aspects such as having a fully independent board and no material diversion of assets. However, it has received low scores in several critical areas, including the absence of a conflict of interest policy and missing documentation related to its website and financial disclosures.
One of the organization's strengths is its program expense ratio, which stands at an impressive 99.31%. This figure suggests that the foundation allocates a significant portion of its resources directly to its programs, reflecting a strong commitment to its mission. Additionally, the organization's liabilities to assets ratio is 0.00%, indicating solid financial stability. However, the lack of transparency due to missing policies and documents may hinder trust among stakeholders.
Overall, while the Bishop Charles P Greco Memorial Foundation shows strong programmatic commitment, it faces significant challenges regarding governance and transparency. Addressing these gaps in policy and documentation could enhance its ratings and public perception, ultimately allowing it to better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Bishop Charles P Greco Memorial Foundation legitimate?
Bishop Charles P Greco Memorial Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bishop Charles P Greco Memorial Foundation 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.
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What is the mission statement of Bishop Charles P Greco Memorial Foundation?
The Bishop Charles P Greco Memorial Foundation's mission is centered around providing financial aid to seminarians hailing from Louisiana, who are pursuing the priesthood at a Catholic seminary. The organization solicits donations from individual members and local Councils of the Louisiana State Council, Knights of Columbus. These funds are then distributed to all eligible seminary students, with grants being given out in equal installments to each student. The foundation aims to support the religious education and future careers of these seminarians, contributing to the growth of the Catholic community.
Who is the CEO of Bishop Charles P Greco Memorial Foundation?
David Bakeler is the President of Bishop Charles P Greco Memorial Foundation.
What is the revenue of Bishop Charles P Greco Memorial Foundation?
Bishop Charles P Greco Memorial Foundation's revenue in 2022 was $42,644.
Who are the executives of Bishop Charles P Greco Memorial Foundation and what are their salaries?
There 3 volunteers at Bishop Charles P Greco Memorial Foundation.
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Where can I find the form 990 for Bishop Charles P Greco Memorial Foundation?
Bishop Charles P Greco Memorial Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bishop Charles P Greco Memorial Foundation
The Bishop Charles P Greco Memorial Foundation, named after a revered figure, is dedicated to a religious and educational mission. Its primary objective is to offer financial aid to seminarians hailing from Louisiana, who are pursuing their studies towards the priesthood at a Catholic seminary. The foundation accepts donations from individual members and local Councils of the Louisiana State Council, Knights of Columbus. These contributions are then distributed equally among all eligible seminary students, as reported by the Archdiocese of New Orleans and the various other Roman Catholic Dioceses of Louisiana. This philanthropic initiative aims to support the educational journey of aspiring priests, thereby contributing to the religious community in Louisiana.
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Impact
August, 2024
The Bishop Charles P Greco Memorial Foundation's impact is evident in its dedication to providing financial assistance to seminarians from Louisiana who are studying for the priesthood at a Catholic seminary. Through donations solicited from individual members and local Councils of the Louisiana State Council, Knights of Columbus, the foundation grants support to seminary students as reported by the Archdiocese of New Orleans and other Roman Catholic Dioceses in Louisiana. These grants are distributed in equal installments to each seminary student, emphasizing the foundation's commitment to fostering the education and formation of future priests.
This information is meant to be a general summary of Bishop Charles P Greco Memorial Foundation. 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: $34,249
- Gross Receipts: $42,644
Assets and Liabilities:
- Total Assets: $1,214,449
- Total Liabilities: $0
- Net Assets: $1,214,449
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Organization Details
Founding Year
1993
Phone
(337) 235-2220Principal Officer
David Bakeler
Main Address
111 Sybil Drive, Lafayette, LA, 705074303
NTEE Category
Code: B82 - Education
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