Overview
What is St Matthews Episcopal Church Endowment Fund Inc?
St. Matthews Episcopal Church Endowment Fund Inc is a nonprofit organization located at 1101 Forest Avenue, Henrico, VA 23229. Its primary purpose is to support religious organizations and address emergency or unique needs within St. Matthew's Episcopal Church. The fund generates income by investing donations and allocates a significant portion of its grants to both internal and external religious organizations, contributing a sum of $11,200 to nine such organizations in total. These organizations include Cedar Springs Presbyterian Church Ministries, CRU, Anglican Frontier Missions, Solar Light for Africa, Reformed University Fellowship, The Shepherd's Center, Emmaus Encounter, and New Hope Peru. The fund's mission is to strengthen the community and the church by addressing both internal and external religious needs.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
St Matthews Episcopal Church Endowment Fund Inc has received an 80% rating from Charity Navigator, indicating satisfactory performance in accountability and finance. The rating is based entirely on a single beacon score, reflecting the organization's financial health and operational transparency. The fiscal year examined is 2022, showcasing the organization’s adherence to strong governance principles.
Strengths of the nonprofit include a fully independent board of directors, with all 10 members demonstrating a commitment to governance. The organization has also shown no material diversion of assets and has a strong program expense ratio of nearly 72%, suggesting that a significant portion of its funds is directed toward its mission-related activities. However, there are areas for improvement, particularly concerning the absence of a whistleblower policy and document retention guidelines.
While the organization exhibits strong financial accountability, the absence of these specific policies may raise concerns about operational transparency and risk management. Overall, St Matthews Episcopal Church Endowment Fund Inc demonstrates solid financial practices, but addressing the noted deficiencies could enhance its governance framework further.
This AI summary has been generated from information found on Charity Navigator.
Is St Matthews Episcopal Church Endowment Fund Inc legitimate?
St Matthews Episcopal Church Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Matthews Episcopal Church Endowment Fund 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:
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What is the mission statement of St Matthews Episcopal Church Endowment Fund Inc?
The St. Matthew's Episcopal Church Endowment Fund Inc's mission is centered around enhancing the ministry of St. Matthew's Episcopal Church and addressing emergency or unusual needs within the parish. The fund achieves this by investing gifts and utilizing the income for religious purposes. Interestingly, approximately half of the grants provided by the fund are allocated for needs within the church, while the other half is directed towards addressing needs outside the church. The Endowment Fund has supported various religious organizations outside of St. Matthew's Episcopal Church, contributing to their programs and missions. These organizations include Cedar Springs Presbyterian Church Ministries, C.R.U., Anglican Frontier Missions, Solar Light for Africa, Reformed University Fellowship, The Shepherd's Center, Emmaus Encounter, and New Hope Peru, among others.
What is the revenue of St Matthews Episcopal Church Endowment Fund Inc?
St Matthews Episcopal Church Endowment Fund Inc's revenue in 2023 was $74,618.
Who are the executives of St Matthews Episcopal Church Endowment Fund Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for St Matthews Episcopal Church Endowment Fund Inc?
St Matthews Episcopal Church Endowment Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of St Matthews Episcopal Church Endowment Fund Inc
St. Matthew's Episcopal Church Endowment Fund Inc is an organization with a mission to enhance the ministry of St. Matthew's Episcopal Church and address emergency or unusual needs within the parish. To accomplish this, the fund invests gifts and utilizes the income generated for religious purposes. Interestingly, the fund divides its grants equally, allocating half for needs within the church and the other half for needs outside the church.
By supporting other religious and faith-based organizations, St. Matthew's Episcopal Church Endowment Fund Inc extends its reach beyond its own congregation. The fund has issued grants to various organizations, contributing $1,500 to Cedar Springs Presbyterian Church Ministries, $2,000 to C R U, $3,000 to Anglican Frontier Missions, $1,000 to Solar Light for Africa, $500 to Reformed University Fellowship, $4,000 to Needles Eye, $2,000 to The Shepherd's Center, $3,200 to Emmaus Encounter, and $4,000 to New Hope Peru. These grants are utilized to support the programs and missions of these organizations, demonstrating St. Matthew's Episcopal Church Endowment Fund Inc's commitment to aiding other religious institutions as well.
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Impact
October, 2024
St. Matthews Episcopal Church Endowment Fund Inc significantly enhances the ministry of St. Matthew's Episcopal Church and plays a vital role in supporting various religious and faith-based initiatives. The fund strategically invests contributions, with the income generated being utilized to address both the internal needs of the parish and external community support.
By issuing grants to nine different religious organizations, the fund has extended its impact beyond its immediate congregation. For instance, it has provided financial assistance for programs at Cedar Springs Presbyterian Church Ministries, C R U, Anglican Frontier Missions, and several others, totaling over $20,000 in support for their initiatives. This demonstrates a commitment to fostering collaboration and strengthening community ties among various faith-based organizations.
With approximately 50% of its grants directed towards addressing needs within St. Matthew's Church and the other 50% focused on external partnerships, the Endowment Fund is instrumental in ensuring that both the local church and the wider community benefit from its resources. By meeting emergencies and unusual needs, it plays a critical role in enhancing spiritual growth, outreach, and support across a diverse range of programs and missions.
This information is meant to be a general summary of St Matthews Episcopal Church Endowment Fund 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 2023.
- Investment Income: $33,489
- Gross Receipts: $496,426
Assets and Liabilities:
- Total Assets: $947,863
- Total Liabilities: $0
- Net Assets: $947,863
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Organization Details
Founding Year
1991
Principal Officer
Paula Butz
NTEE Category
Code: X22 - Religion related
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