Overview
What is Our Savior Lutheran Church Testamentary Trust 673100?
Our Savior Lutheran Church Testamentary Trust 673100 is a charitable organization, specifically a trust, established with the primary objective of supporting Our Savior's Lutheran Church. Based in Waco, Texas, the trust's main function is to distribute its net income towards the church's religious activities, serving as a house of worship. This furtherance of the church's exempt purpose aligns with the trust's mission, contributing to the spiritual growth and community within the church.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%
The Our Savior Lutheran Church Testamentary Trust has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant challenges in accountability and financial transparency. The rating is derived solely from its accountability and finance beacon, indicating that the organization does not meet the criteria necessary for a favorable assessment. While the trust benefits from a fully independent board, several critical governance policies are missing, which has impacted its overall score.
Strengths include a 100% independent board, with a substantial number of independent members, suggesting strong governance structure in that aspect. Additionally, there are no noted material diversions of assets, indicating a level of fiscal responsibility. However, the absence of key policies such as conflict of interest, whistleblower protection, and document retention practices raises serious concerns about the organization's operational transparency.
Limitations are pronounced, particularly with the missing documentation that is essential for building trust with stakeholders. The lack of a website listed on the tax form and the failure to post the organization's tax form online further detract from its accountability. Program expenses also fall short, with a program expense ratio of only 49.71%, indicating a significant portion of funds may not be dedicated to direct program services.
This AI summary has been generated from information found on Charity Navigator.
Is Our Savior Lutheran Church Testamentary Trust 673100 legitimate?
Our Savior Lutheran Church Testamentary Trust #673100 is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our Savior Lutheran Church Testamentary Trust #673100 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 Our Savior Lutheran Church Testamentary Trust 673100?
Our Savior Lutheran Church Testamentary Trust 673100 is dedicated to supporting the exempt purpose of Our Savior Lutheran Church, functioning as a place of worship. The main objective is to distribute 100% of its net income to the church, which utilizes the funds to carry out its religious duties as a house of worship. In essence, the trust's mission is to contribute to the religious activities and services provided by Our Savior Lutheran Church.
Who is the CEO of Our Savior Lutheran Church Testamentary Trust 673100?
Jerry Tom Reesing is the Principal Officer of Our Savior Lutheran Church Testamentary Trust #673100.
What is the revenue of Our Savior Lutheran Church Testamentary Trust 673100?
Our Savior Lutheran Church Testamentary Trust 673100's revenue in 2022 was -$413.
Who are the executives of Our Savior Lutheran Church Testamentary Trust 673100 and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Our Savior Lutheran Church Testamentary Trust 673100?
Our Savior Lutheran Church Testamentary Trust 673100's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Our Savior Lutheran Church Testamentary Trust 673100
Our Savior Lutheran Church Testamentary Trust 673100 is dedicated to advancing the exempt purpose of Our Savior Lutheran Church as a place of worship. This trust's primary mission is to distribute its net income entirely to the church, allowing it to carry out its religious duties effectively. By doing so, the trust contributes significantly to the church's role as a house of worship, ensuring its continued operation and spiritual service to the community.
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Impact
October, 2024
The Our Savior Lutheran Church Testamentary Trust 673100 plays a vital role in supporting the mission of Our Savior Lutheran Church as a house of worship in Waco, Texas. By ensuring that 100% of its net income is distributed to the church, the trust provides essential financial resources that enable the church to fulfill its religious purposes.
This financial support facilitates various activities, including worship services, community outreach programs, and other religious and spiritual initiatives that foster a sense of community among congregants. The trust's dedicated funding not only sustains the church's operations but also allows it to expand its reach, impact more lives, and promote the values of faith and fellowship within the community.
Through its commitment to advancing the church's mission, the trust contributes significantly to the spiritual growth and development of its members, helping to cultivate an environment where worship and community life thrive. The ability to rely on this consistent source of income ensures that the church can focus on its core mission, making a lasting impact on the lives of those it serves.
This information is meant to be a general summary of Our Savior Lutheran Church Testamentary Trust 673100. 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: -$413
- Gross Receipts: $75,407
Assets and Liabilities:
- Total Assets: $154,075
- Total Liabilities: $0
- Net Assets: $154,075
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Organization Details
Founding Year
1976
Phone
(254) 753-1521Principal Officer
Jerry Tom Reesing
Main Address
PO BOX 2303, WACO, TX, 76703
NTEE Category
Code: X99Z - Religion related
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