Overview
What is John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1?
John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 is a charitable trust established under Louisiana law. The trust's primary function is to manage and invest donated assets, with the annual earnings being distributed to Our Lady Immaculate Catholic School, a tax-exempt organization. Located in Baton Rouge, Louisiana, this trust operates with the goal of supporting educational initiatives at Our Lady Immaculate Catholic School. While the information provided does not include details about the trust's reach or additional programs, it is clear that the John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 is committed to contributing to the educational growth of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Star rating)
The John J Garbarino & Adrienne Houssiere Garbarino Memorial Trust has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The score is calculated entirely from the Accountability & Finance beacon, which reflects various aspects of the charity’s operational practices. A significant concern is the absence of independent board members, which raises questions about governance and oversight.
Strengths of the organization include a solid program expense ratio of 73.98%, suggesting that a substantial portion of its resources is directed towards its charitable programs. Additionally, the trust has a commendable record regarding asset management, with no material diversion of assets reported and a favorable liabilities-to-assets ratio of 0.00%. The documentation practices for board meeting minutes and compliance with document retention policies are also noteworthy.
However, the charity's weaknesses are critical, particularly the lack of transparency indicated by missing policies such as conflict of interest and whistleblower policies, as well as failure to list its website on the tax form. Furthermore, there is a failure to post the tax form on the nonprofit's website, which hinders public access to important financial information. Overall, while there are some positive aspects, significant improvements in governance and transparency are necessary for this nonprofit to enhance its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 legitimate?
John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 is a legitimate nonprofit organization registered as a 501(c)(3) entity. John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 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 John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1?
The John J Garbarino & Adrienne Houssiere Garbarino Memorial Trust 1 is a charitable trust established under Louisiana law. Its primary objective is to manage and invest assets contributed to the organization, with the intention of annually distributing the earnings to Our Lady Immaculate Catholic School, a tax-exempt organization. The trust's mission is centered around financially supporting the educational needs of this school. The trust serves as a source of annual funding for Our Lady Immaculate Catholic School, contributing to its educational initiatives.
Who is the CEO of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1?
Hancock Whitney Bank is the Trustee of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1.
What is the revenue of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1?
John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1's revenue in 2022 was $46,473.
Who are the executives of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1 and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $15,752
- Related: $47,255
- Other: $0
Where can I find the form 990 for John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1?
John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1
The John J. Garbarino & Adrienne Houssiere Garbarino Memorial Trust 1, established under Louisiana law, serves as a charitable organization. Its primary purpose is to collect and invest assets donated to the trust. The annual earnings generated from these investments are then distributed to Our Lady Immaculate Catholic School, a tax-exempt organization. This trust plays a crucial role in supporting the educational endeavors of Our Lady Immaculate Catholic School.
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Impact
October, 2024
The John J. Garbarino & Adrienne Houssiere Garbarino Memorial Trust 1 plays a significant role in supporting education within the Baton Rouge community, particularly through its contributions to Our Lady Immaculate Catholic School. By holding and investing assets, the trust generates annual earnings that are specifically allocated to enhance educational opportunities at the school. This funding can assist in various areas, such as improving facilities, providing resources for students and teachers, and facilitating programs that enrich the learning experience. The trust's commitment to education underscores its impact on shaping the future of students at Our Lady Immaculate Catholic School while fostering a strong educational foundation that aligns with the values of the community.
This information is meant to be a general summary of John J Garbarino & Adrienne Houssiere Garbarino Memorial Tr 1. 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: $31,690
- Gross Receipts: $899,692
Assets and Liabilities:
- Total Assets: $1,047,550
- Total Liabilities: $0
- Net Assets: $1,047,550
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Organization Details
Founding Year
1999
Phone
(225) 923-6291Principal Officer
Hancock Whitney Bank
Main Address
445 NORTH BOULEVARD 1ST FLOOR, BATON ROUGE, LA, 70802
NTEE Category
Code: T20 - Philanthropy
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