Overview
What is Michael Christ Family Trust?
The Michael Christ Family Trust is a charitable organization based in Wheeling, West Virginia, with an address at 83 Edgington Lane. Its primary purpose is to support the charitable, religious, and educational objectives of four distinct entities: St. Joseph Cathedral and Parish, Central Catholic High School, the Sisters of St. Joseph Retirement Fund, and the Priests Health and Retirement Fund for the Diocese of Wheeling-Charleston. The trust adheres to a specific distribution structure, ensuring that each beneficiary receives a fixed percentage of the trust's revenue and covers expenses in alignment with these percentages. The Michael Christ Family Trust's mission is to contribute positively to the well-being of these four organizations, thereby strengthening their capacity to serve their respective communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement. Overall score: 67%. The Michael Christ Family Trust has received a two-star rating, indicating that there are significant areas needing enhancement. A key strength highlighted in the evaluation is the high program expense ratio of 95.19%, suggesting that the majority of its funds are directed towards programmatic activities rather than administrative costs.
However, the organization faces challenges in governance and transparency. Only 33% of the board members are independent, raising concerns about potential conflicts of interest. Additionally, the trust is missing crucial policies such as a whistleblower policy and has not listed its website on the tax form, which affects its accountability score.
While the trust has demonstrated solid financial health with a 0.00% liabilities to assets ratio and the absence of material asset diversion, the overall low score reflects the need for improvement in transparency and board independence. Addressing these governance issues could enhance trust and confidence among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Michael Christ Family Trust legitimate?
Michael Christ Family Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michael Christ Family 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 Michael Christ Family Trust?
The Michael Christ Family Trust is dedicated to supporting charitable, religious, and educational purposes. Specifically, its mission is to contribute to the St. Joseph Cathedral and Parish, Central Catholic High School, the Sisters of St. Joseph Retirement Fund, and the Priests Health and Retirement Association for the Diocese of Wheeling-Charleston. The trust adheres to a governing instrument that dictates that distributions should be allocated to these four organizations in fixed percentages. Consequently, the trust's revenue and expenses are utilized for the benefit of these organizations accordingly.
Who is the CEO of Michael Christ Family Trust?
Mark E Brennan Bishop is the Trustee of Michael Christ Family Trust.
What is the revenue of Michael Christ Family Trust?
Michael Christ Family Trust's revenue in 2022 was $141,414.
Who are the executives of Michael Christ Family Trust and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $9,983
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Michael Christ Family Trust?
Michael Christ Family Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Michael Christ Family Trust
The Michael Christ Family Trust is dedicated to advancing charitable, religious, and educational causes. Its primary objective is to provide support to four distinct entities: St. Joseph Cathedral and Parish, Central Catholic High School, the Sisters of St. Joseph Retirement Fund, and the Priests Health and Retirement Fund for the Diocese of Wheeling-Charleston. The trust fulfills this mission by distributing funds to these organizations in predetermined proportions. As a result, the income and expenses of the trust are solely utilized for the benefit of these four entities, aligning with their respective shares. In essence, the Michael Christ Family Trust serves as a benefactor, aiding these organizations in achieving their charitable, religious, and educational objectives.
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Impact
October, 2024
The Michael Christ Family Trust significantly enhances the religious and educational landscape of Wheeling, West Virginia. By allocating funds to the St. Joseph Cathedral and Parish, Central Catholic High School, the Sisters of St. Joseph Retirement Fund, and the Priests Health and Retirement Association for the Diocese of Wheeling-Charleston, it ensures the ongoing support and sustainability of these vital institutions.
The trust’s structured approach to funding means that a consistent flow of financial resources is directed toward these organizations, enabling them to fulfill their missions effectively. For instance, the support of Central Catholic High School aids in providing quality education rooted in the community’s religious values, while contributions to the Sisters of St. Joseph Retirement Fund help ensure that those who have dedicated their lives to service in the church can enjoy a dignified retirement.
Moreover, by addressing the health and retirement needs of priests through the Priests Health and Retirement Association, the trust acknowledges and supports the well-being of clergy who have devoted themselves to spiritual leadership. Overall, the Michael Christ Family Trust plays a crucial role in strengthening the fabric of the community by investing in educational programs, religious activities, and the care of those who serve the community, thus fostering a vibrant and supportive social environment.
This information is meant to be a general summary of Michael Christ Family 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: $141,414
- Gross Receipts: $1,185,863
Assets and Liabilities:
- Total Assets: $2,297,766
- Total Liabilities: $0
- Net Assets: $2,297,766
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Organization Details
Founding Year
1966
Principal Officer
Mark E Brennan Bishop
Main Address
83 EDGINGTON LANE, Wheeling, WV, 26003
NTEE Category
Code: X22 - Religion related
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