Overview
What is Catholic Foundation Of Oklahoma Inc?
Catholic Foundation of Oklahoma Inc is a nonprofit organization situated in Oklahoma City, Oklahoma. Its primary mission is to gather and establish endowment funds to bolster the ministries and entities within the Archdiocese of Oklahoma City. Guided by the spiritual guidance of the Archbishop, the Foundation's operations are led by a Board of Directors, comprising priests, deacons, and lay individuals from diverse regions within the Archdiocese. The Foundation offers various gifting options, providing resources for the Church and related entities, and offers estate planning and charitable giving assistance. It distributes earnings from endowments and other charitable funds to support parishes, schools, and other Catholic ministries in central and western Oklahoma, awarding grants totaling $834,313 to Catholic organizations in 2022. Additionally, the Foundation manages 125 custodial accounts for parishes, schools, and other ministries. In 2022, the Foundation awarded 59 college scholarships totaling $146,775 to support higher education for deserving individuals. As a steward of charitable funds, the Catholic Foundation of Oklahoma Inc plays a crucial role in advancing the Catholic Church in Oklahoma, enhancing its development and promoting generosity within the community.
Official website here: www.cfook.org
What are the reviews and ratings of this charity?
**Catholic Foundation Of Oklahoma Inc: Rating Summary**
Rating from Charity Navigator: 76% (Three-Star out of Four Star rating)
The Catholic Foundation of Oklahoma Inc has received a Three-Star rating from Charity Navigator, reflecting a focus on accountability and finance. The organization is recognized for having a majority independent board with 87% independent members, which contributes to responsible governance. However, certain areas, such as the absence of a whistleblower policy and incomplete financial reporting points, highlight some limitations in transparency and accountability.
In terms of financial health, the foundation demonstrates a solid working capital ratio of 11.88 years, with no material diversion of assets. While their program expenses are reasonably within a strong range, their fundraising efficiency could be improved as indicated by a relatively low score. The executive pay levels, particularly for the Executive Director, are noteworthy but could raise questions regarding compensation practices and sustainability.
Unfortunately, user reviews from GreatNonprofits are not available at this time, which limits insights into public sentiment regarding their projects and effectiveness. Overall, while the foundation exhibits strong principles in governance, there remains room for enhancement in financial efficiency and broader stakeholder engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Catholic Foundation Of Oklahoma Inc legitimate?
Catholic Foundation Of Oklahoma Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catholic Foundation Of Oklahoma 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:
Executive Compensation: $194,371
Professional Fundraising Fees: $0
Other Salaries and Wages: $152,946
For more financial information, click here
Official website here: www.cfook.org
What is the mission statement of Catholic Foundation Of Oklahoma Inc?
The Catholic Foundation of Oklahoma Inc serves as a steward of charitable funds, inspiring generosity to establish endowments and charitable funds supporting various ministries within the Catholic Church in central and western Oklahoma. Its mission is to inspire generosity, ultimately leading to the establishment of endowments and charitable funds that support parishes, schools, and other ministries. The foundation provides gifting vehicles, estate planning, and charitable giving information and assistance, while distributing earnings from these funds to further the development of the Catholic Church in the specified regions. Grants are awarded to Catholic organizations to advance the faith, with $834,313 distributed to parishes and schools in 2022, and 59 college scholarships awarded totaling $146,775 during the same year. Additionally, the foundation manages 125 custodial accounts for parishes, schools, and other ministries.
Official website here: www.cfook.org
Who is the CEO of Catholic Foundation Of Oklahoma Inc?
Peter L De Keratry is the Executive Director of Catholic Foundation Of Oklahoma Inc.
Official website here: www.cfook.org
What is the revenue of Catholic Foundation Of Oklahoma Inc?
Catholic Foundation Of Oklahoma Inc's revenue in 2022 was $9,807,383.
Official website here: www.cfook.org
Who are the executives of Catholic Foundation Of Oklahoma Inc and what are their salaries?
The average compensation at Catholic Foundation Of Oklahoma Inc during 2022 was $38,591. There are 9 employees and 25 volunteers at Catholic Foundation Of Oklahoma Inc.
Here are 19 key members and their salaries:
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- Compensation: $66,092
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- Other: $15,005
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- Related: $218,830
- Other: $34,748
Official website here: www.cfook.org
Where can I find the form 990 for Catholic Foundation Of Oklahoma Inc?
Catholic Foundation Of Oklahoma Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cfook.org
Learn more at the official website: www.cfook.org
Mission Statement of Catholic Foundation Of Oklahoma Inc
The Catholic Foundation of Oklahoma Inc serves as a steward of charitable funds, channeling resources towards parishes and various ministries within the Catholic Church in central and western Oklahoma. Its mission is to inspire generosity, leading to the establishment of endowments and charitable funds that ultimately support these religious entities. The Foundation's primary objective is to enrich the Catholic Church in the specified regions, and it accomplishes this by providing gifting vehicles, offering estate planning and charitable giving advice, and distributing earnings from its managed endowments. The Foundation manages a total of 100 endowments and other charitable funds, utilizing the earnings to finance the growth and development of parishes, schools, and other ministries within the Archdiocese of Oklahoma City. In 2022, the Foundation awarded grants totaling $834,313 to Catholic organizations, furthering the faith throughout the region. Additionally, the Foundation manages 125 custodial accounts for parishes, schools, and other ministries, ensuring their financial well-being and growth.
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Impact
July, 2024
Catholic Foundation Of Oklahoma Inc's impact is significant in supporting the ministries and entities of the Archdiocese of Oklahoma City. By stewarding charitable funds and building endowment resources, the Foundation plays a crucial role in further developing the Catholic Church in central and western Oklahoma. Through grants, scholarships, and custodial accounts, the Foundation provides essential financial assistance to parishes, schools, and other Catholic organizations, thereby advancing the faith throughout the Archdiocese. In 2022, the Foundation distributed grants totaling $834,313 to parishes and schools, as well as awarded 59 college scholarships amounting to $146,775. Overall, Catholic Foundation Of Oklahoma Inc's work inspires generosity and sustains vital support for the Catholic community in the region.
This information is meant to be a general summary of Catholic Foundation Of Oklahoma 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 2022.
- Investment Income: $4,642,489
- Program Service Revenue: $155,707
- Gross Receipts: $25,102,263
Assets and Liabilities:
- Total Assets: $72,656,929
- Total Liabilities: $47,063,590
- Net Assets: $25,593,339
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fund Management Fees
Revenue
$163,686
Organization Details
Founding Year
1965
Phone
(405) 721-5651Principal Officer
Peter L De Keratry
Main Address
PO Box 32180, Oklahoma City, OK, 73123
Website
www.cfook.orgNTEE Category
Code: X110 - Religion related
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