Overview
What is Our Lady Of Sorrows School Endowment Fund Inc?
Our Lady of Sorrows School Endowment Fund Inc is a nonprofit organization situated in Mcallen, Texas, specifically at 1100 Gumwood Avenue. The primary mission of this organization is to raise funds for Our Lady of Sorrows School. This involves providing grants to help the school manage tuition increases and subsidize teacher salaries. The organization's objectives are explicitly geared towards supporting the school and its educational activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%, Zero-Star out of Four Star rating.
The Our Lady Of Sorrows School Endowment Fund Inc received a low rating due to significant shortcomings in accountability and finance. The overall score is based solely on the accountability beacon, where the organization excelled in areas like independent board membership and material diversion of assets, scoring a perfect 10 out of 10 in these categories. However, critical policies and transparency measures are missing, which heavily impacted their score.
The absence of essential governance policies, such as a conflict of interest policy and a whistleblower policy, reflects a lack of compliance with standard nonprofit practices. Additionally, the organization's website does not provide necessary disclosures like the tax form, further affecting its transparency. Although the fund has a solid structure in terms of board independence, the failure to address these fundamental aspects raises concerns regarding its overall accountability.
In terms of financial management, the organization reported a 0.00% ratio for both liabilities to assets and program expenses, suggesting that there may be no active programs funded at this time. This lack of financial information raises questions about the effectiveness and sustainability of the organization’s mission. Overall, while the governance structure shows promise, significant improvements are needed for transparency and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Our Lady Of Sorrows School Endowment Fund Inc legitimate?
Our Lady Of Sorrows School Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our Lady Of Sorrows School Endowment Fund 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:
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What is the mission statement of Our Lady Of Sorrows School Endowment Fund Inc?
Our Lady of Sorrows School Endowment Fund Inc's primary mission is to raise funds for the benefit of the OLS School. This organization's main objective is to provide financial aid, specifically in the form of grants, to help the school manage tuition increases and subsidize teacher salaries. The end goal is to support the educational institution and ensure its continued growth and sustainability. The organization's primary activity revolves around fundraising efforts to provide these grants for the betterment of the OLS School.
Who is the CEO of Our Lady Of Sorrows School Endowment Fund Inc?
Miguel Chanin is the Bookkeeper of Our Lady Of Sorrows School Endowment Fund Inc.
What is the revenue of Our Lady Of Sorrows School Endowment Fund Inc?
Our Lady Of Sorrows School Endowment Fund Inc's revenue in 2022 was $24,680.
Who are the executives of Our Lady Of Sorrows School Endowment Fund Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Our Lady Of Sorrows School Endowment Fund Inc?
Our Lady Of Sorrows School Endowment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Our Lady Of Sorrows School Endowment Fund Inc
Our Lady of Sorrows School Endowment Fund Inc is an organization dedicated to raising funds with the primary objective of benefiting Our Lady of Sorrows School. This nonprofit's mission is to provide financial assistance to the school, helping it to manage tuition increases and offer subsidies for teacher salaries. By doing so, Our Lady of Sorrows School Endowment Fund Inc plays a crucial role in ensuring the school's continued operation and the provision of quality education for its students. The fund raises money through various means, allowing Our Lady of Sorrows School to maintain its educational standards and affordability, ultimately benefiting the students and community it serves.
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Impact
August, 2024
The impact of Our Lady Of Sorrows School Endowment Fund Inc is felt directly within the OLS School community in McAllen, Texas. By raising money and providing grants to the school, this organization plays a crucial role in helping to level off tuition increases and subsidize teacher salaries. This support enables the school to maintain affordability for students and families, as well as retain qualified teachers who are dedicated to nurturing the next generation of leaders. The impact of their philanthropic efforts contributes to the sustainability and success of Our Lady Of Sorrows School, ensuring that quality education remains accessible to all who seek it.
This information is meant to be a general summary of Our Lady Of Sorrows School Endowment Fund 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: $24,680
- Gross Receipts: $24,680
Assets and Liabilities:
- Total Assets: $1,782,404
- Total Liabilities: $0
- Net Assets: $1,782,404
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Organization Details
Founding Year
1984
Phone
(956) 686-3651Principal Officer
Miguel Chanin
Main Address
1100 GUMWOOD AVENUE, MCALLEN, TX, 78501
NTEE Category
Code: T00 - Philanthropy
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