Overview
What is St Martins Endowment Fund?
St. Martin's Endowment Fund is a financial resource that focuses on investing its principal for growth and generating earnings. The primary objective of this fund is to donate these earnings to St. Martin's Evangelical Lutheran Church, located in Austin, Texas. The Endowment Fund, as stated in the provided information, granted a donation of $110,757 from its prior years' earnings for use in 2022. This nonprofit entity contributes financially to support the operations and activities of the church.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star rating. This rating reflects a strong performance in the Accountability & Finance category, indicating that the St Martins Endowment Fund is effectively managing its resources and maintaining transparency with its financial practices.
The organization has achieved a perfect score in several key areas, including having a fully independent board of directors and no material diversion of assets. This level of governance suggests a commitment to ethical oversight and accountability, which is critical for donor trust and overall operational integrity.
However, while the score indicates solid financial management, the assessment is based solely on one beacon score, which limits the overall evaluation of the organization's impact and effectiveness in fulfilling its mission. Future ratings may benefit from a more comprehensive review of programmatic outcomes alongside financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is St Martins Endowment Fund legitimate?
St Martins Endowment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Martins Endowment Fund 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.
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What is the mission statement of St Martins Endowment Fund?
The St. Martin's Endowment Fund's mission is to strategically grow its principal through investments and subsequently donate the resulting earnings to St. Martin's Evangelical Lutheran Church. This financial strategy aims to provide ongoing support to the church, as evidenced by the approval of a sizable donation of $110,757 from prior earnings for use in 2022. The Endowment Fund's mission is centered around this dual objective of investment growth and charitable giving.
Who is the CEO of St Martins Endowment Fund?
Bill Grosskopf is the President of St Martins Endowment Fund.
What is the revenue of St Martins Endowment Fund?
St Martins Endowment Fund's revenue in 2022 was $117,247.
Who are the executives of St Martins Endowment Fund and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for St Martins Endowment Fund?
St Martins Endowment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Martins Endowment Fund
The St. Martin's Endowment Fund is a charitable organization with a mission to nurture its principal for growth and generate earnings. This nonprofit institution then dedicates these earnings to St. Martin's Ev. Lutheran Church, located in an unspecified location. Essentially, the Endowment Fund serves as a financial resource, utilizing its principal to generate earnings that subsequently contribute to the support of St. Martin's Ev. Lutheran Church. In 2022, the Endowment Fund authorized a donation of $110,757 to the church, illustrating its commitment to this mission.
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Impact
October, 2024
The St. Martins Endowment Fund plays a crucial role in supporting St. Martin's Evangelical Lutheran Church in Austin, Texas, by strategically investing its principal to generate growth and earnings. In 2022, the fund successfully authorized a substantial donation of $110,757, drawn from prior years’ earnings. This financial support enables the church to enhance its programs, outreach, and community services, thus allowing it to fulfill its mission more effectively. By focusing on the growth of its principal, the fund ensures a sustainable source of funding that can continue to uplift the church and its activities in the long term, contributing positively to the community it serves.
This information is meant to be a general summary of St Martins Endowment Fund. 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: $100,372
- Gross Receipts: $117,247
Assets and Liabilities:
- Total Assets: $2,061,592
- Total Liabilities: $0
- Net Assets: $2,061,592
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Organization Details
Founding Year
1965
Phone
(512) 476-6757Principal Officer
Bill Grosskopf
Main Address
606 W 15th St, Austin, TX, 787011514
NTEE Category
Code: X11 - Religion related
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