Overview
What is Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department?
Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department is a nonprofit organization based in Mobile, Alabama. Their primary mission is to provide perpetual economic support, enriching educational opportunities that are not otherwise available to designated schools. This support is intended to supplement the limited budgeted resources of the schools, specifically in this case, Nativity BVM Elementary School in Biloxi, Mississippi. The trust operates through the Regions Bank Trust Department.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63%, Two-Star out of Four Star rating. This rating indicates that Mavar Charitable Trust has room for improvement in its accountability and finance practices. While the charity demonstrates strong performance in certain areas such as having a majority independent board members and a favorable liabilities to assets ratio, there are significant weaknesses in transparency and governance.
One of the notable strengths is the charity's compliance in documenting board meeting minutes and achieving a perfect score for its program expense ratio. However, the organization lacks an independent board size and has not implemented essential policies like conflict of interest, whistleblower, and document retention, which are critical for ensuring good governance and accountability.
Overall, while Mavar Charitable Trust shows some positive financial management and independent oversight, the lack of essential governance policies limits its effectiveness. Stakeholders may want to consider these factors when evaluating the charity's reliability and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department legitimate?
Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department 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 Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department?
The Mavar Charitable Trust, established in 1992 and managed by the Regions Bank Trust Department, has a mission to provide perpetual economic support for enriching education opportunities that are not otherwise accessible to designated schools. This support aims to supplement the Catholic Christian mission of these schools, which may be limited by their budgeted resources. By doing so, the trust seeks to contribute to the overall educational development and growth of the beneficiary schools.
Who is the CEO of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department?
Ann-Marie Niccolai is the Trustee of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department.
What is the revenue of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department?
Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department's revenue in 2022 was $19,585.
Who are the executives of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department and what are their salaries?
There is 1 key member and their salary:
- Compensation: $200
- Related: $0
- Other: $0
Where can I find the form 990 for Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department?
Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department
Mavar Charitable Trust, established in 1992 and managed by Regions Bank Trust Department, is committed to providing perpetual economic support. Its mission is to enrich education opportunities that are not otherwise accessible to designated schools. This charitable trust, in the case of Nativity BVM Elementary School in Biloxi, MS, plays a significant role in supporting the Catholic Christian mission of the school, which may be beyond their limited budgeted resources. By providing this financial assistance, Mavar Charitable Trust aims to contribute to the overall growth and development of the school, thereby enhancing the educational experiences of its students.
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Impact
October, 2024
The Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department significantly enhances educational opportunities at designated schools by providing perpetual economic support. With a focus on Nativity BVM Elementary School in Biloxi, MS, the Trust ensures that the Catholic Christian mission of the school is sustained, addressing financial gaps that the school's limited budget cannot fill. This support enables the school to enrich its educational programs, ensuring that students have access to resources and opportunities that otherwise might be unavailable. By prioritizing education, the Trust plays a crucial role in fostering a more robust learning environment that can lead to improved student outcomes and community benefits.
This information is meant to be a general summary of Mavar Charitable Trust Dtd 04-15-92 Regions Bank Trust Department. 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: $19,585
- Gross Receipts: $324,871
Assets and Liabilities:
- Total Assets: $861,231
- Total Liabilities: $0
- Net Assets: $861,231
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Organization Details
Founding Year
1992
Phone
(251) 438-8387Principal Officer
Ann-Marie Niccolai
Main Address
PO DRAWER 1628, MOBILE, AL, 366331628
NTEE Category
Code: B00 - Education
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