Overview
What is Clerical Endowment Fund Of The Austin Dioceese?
The Clerical Endowment Fund of the Austin Diocese is a nonprofit organization situated in West, Texas (specifically at PO Box 387, ZIP code 76691). Its primary mission is to offer financial assistance in the form of building loans to Catholic parishes and funds for the education of Catholic seminarians within the Austin Diocese. The organization aims to support the growth and development of Catholic communities and the education of future religious leaders in the diocese.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 70%)
The Clerical Endowment Fund of the Austin Diocese has received a mixed evaluation with a two-star rating, indicating that while the organization shows strong accountability and financial management, there are several areas needing improvement. Notably, it scored a perfect 100% for its Accountability & Finance metrics, highlighting excellent practices in board independence and asset management, indicating a stable financial foundation.
However, the organization has several shortcomings that have impacted its overall rating. Key policies, such as the Conflict of Interest Policy, Whistleblower Policy, Document Retention and Destruction Policy, and proper documentation of board meeting minutes, are missing. Additionally, crucial documents like the tax form and a website for transparency are not listed, which raises concerns about its commitment to transparency and governance practices.
In summary, while the Clerical Endowment Fund demonstrates strong financial health and governance through its independent board structure, it must address its policy deficiencies and improve its transparency to enhance its overall standing and better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Clerical Endowment Fund Of The Austin Dioceese legitimate?
Clerical Endowment Fund Of The Austin Dioceese is a legitimate nonprofit organization registered as a 501(c)(3) entity. Clerical Endowment Fund Of The Austin Dioceese 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
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What is the mission statement of Clerical Endowment Fund Of The Austin Dioceese?
The Clerical Endowment Fund of the Austin Diocese is committed to providing financial aid in the form of building loans to Catholic parishes and funds for the education of seminarians within the Catholic Dioceses. Its mission is centered around supporting the growth and development of the Catholic community by offering financial assistance for the construction of churches and other religious facilities, as well as providing funds for the education of future Catholic clergy. This fund plays a crucial role in strengthening the religious infrastructure and nurturing future spiritual leaders within the Catholic faith.
Who is the CEO of Clerical Endowment Fund Of The Austin Dioceese?
Father Ed Karasek is the President of Clerical Endowment Fund Of The Austin Dioceese.
What is the revenue of Clerical Endowment Fund Of The Austin Dioceese?
Clerical Endowment Fund Of The Austin Dioceese's revenue in 2023 was $457,409.
Who are the executives of Clerical Endowment Fund Of The Austin Dioceese and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Clerical Endowment Fund Of The Austin Dioceese?
Clerical Endowment Fund Of The Austin Dioceese's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Clerical Endowment Fund Of The Austin Dioceese
The Clerical Endowment Fund of the Austin Diocese is committed to providing financial assistance in the form of building loans to Catholic parishes and funding for the education of Catholic seminarians within the Catholic Dioceses. The primary objective of this nonprofit organization is to support the growth and development of Catholic churches and to nurture future religious leaders through educational grants for seminarians. By offering these loans and funds, the Clerical Endowment Fund of the Austin Diocese plays a crucial role in fostering the spiritual and communal growth within the Catholic community.
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Impact
July, 2024
The Clerical Endowment Fund of the Austin Diocese plays a crucial role in supporting the growth and development of Catholic parishes and the education of seminarians within the Austin Diocese. By providing building loans to Catholic parishes, the fund enables these communities to enhance their facilities and better serve their congregations. Additionally, by offering financial support for the education of Catholic seminarians, the fund contributes to the formation of future clergy members who will serve the faithful in the diocese. Overall, the impact of the Clerical Endowment Fund is significant in fostering the spiritual and physical growth of the Catholic community in the Austin Diocese.
This information is meant to be a general summary of Clerical Endowment Fund Of The Austin Dioceese. 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 2023.
- Investment Income: $161,849
- Gross Receipts: $457,409
Assets and Liabilities:
- Total Assets: $4,765,099
- Total Liabilities: $0
- Net Assets: $4,765,099
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Organization Details
Founding Year
1990
Principal Officer
Father Ed Karasek
Main Address
PO BOX 387, West, TX, 76691
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