Overview
What is Catholic Education Opportunities Foundation Inc?
Catholic Education Opportunities Foundation Inc, situated in Lexington, Kentucky, operates as a nonprofit organization dedicated to supporting needy families who wish to enroll their children in Catholic schools within the Diocese of Lexington. Their primary mission involves raising funds for tuition assistance, thereby providing educational opportunities to students in Central and Eastern Kentucky counties. The organization has a small team of dedicated individuals, with a total of 1 employee, working towards this cause. In the recent past, Catholic Education Opportunities Foundation Inc distributed $28,000 to assist these families.
Official website here: www.ceoflex.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43%, Zero-Star out of Four Star Rating
The Catholic Education Opportunities Foundation Inc has received a low rating of 43% from Charity Navigator, which translates to a Zero-Star rating. This score reflects deficiencies primarily in its Accountability & Finance metrics. While the organization has a commendable setup with a fully independent board and no material diversion of assets, it falls short in critical areas such as program expenses and financial ratios.
Strengths of the organization include a fully independent board composed of eight members, which is viewed favorably in terms of governance. Additionally, the foundation has policies in place for conflict of interest and maintains proper documentation of board meeting minutes. However, the lack of a whistleblower policy and a document retention and destruction policy is concerning and contributes to its low score.
A significant limitation is the low program expense ratio of 26.71%, indicating that a considerable portion of funds may not be directed towards program activities. Furthermore, the liabilities to assets ratio of 0.28% suggests potential financial instability. These issues highlight a need for the organization to improve its financial management practices to enhance its rating and overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Catholic Education Opportunities Foundation Inc legitimate?
Catholic Education Opportunities Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catholic Education Opportunities Foundation 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: $75,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ceoflex.org
What is the mission statement of Catholic Education Opportunities Foundation Inc?
The Catholic Education Opportunities Foundation Inc's mission is centered around raising funds, specifically for the purpose of providing tuition assistance to students attending K-8 Catholic schools in Central and Eastern Kentucky regions. This is done within the scope of the Diocese of Lexington. The organization's primary goal is to make quality Catholic education accessible to families who may otherwise be unable to afford it. By distributing funds to needy families, the foundation enables these children to attend Catholic schools, thereby contributing to their education and overall development.
Official website here: www.ceoflex.org
Who is the CEO of Catholic Education Opportunities Foundation Inc?
Kimberly Thompson is the Executive Director of Catholic Education Opportunities Foundation Inc.
Official website here: www.ceoflex.org
What is the revenue of Catholic Education Opportunities Foundation Inc?
Catholic Education Opportunities Foundation Inc's revenue in 2022 was $528,057.
Official website here: www.ceoflex.org
Who are the executives of Catholic Education Opportunities Foundation Inc and what are their salaries?
The average compensation at Catholic Education Opportunities Foundation Inc during 2022 was $75,000. There is 1 employee and 14 volunteers at Catholic Education Opportunities Foundation Inc.
Here are 9 key members and their salaries:
- Compensation: $75,000
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Official website here: www.ceoflex.org
Where can I find the form 990 for Catholic Education Opportunities Foundation Inc?
Catholic Education Opportunities Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ceoflex.org
Learn more at the official website: www.ceoflex.org
Mission Statement of Catholic Education Opportunities Foundation Inc
Catholic Education Opportunities Foundation, a nonprofit organization, is dedicated to its mission of raising funds for tuition assistance for students attending K-8 Catholic Schools in various counties falling under the Diocese of Lexington. By channeling resources towards this cause, the foundation aims to make quality Catholic education accessible to families in financial need, thereby fostering educational opportunities for the younger generation. In the recent past, the foundation has distributed a significant sum of $28,000 to support needy families in sending their children to these schools, demonstrating its commitment to this noble cause.
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Impact
July, 2024
Catholic Education Opportunities Foundation Inc's impact can be seen in the $28,000 distributed to needy families in the Diocese of Lexington, Kentucky, enabling children to attend K-8 Catholic Schools. This financial support significantly contributes to the accessibility of Catholic education for students in Central and Eastern Kentucky counties.
This information is meant to be a general summary of Catholic Education Opportunities Foundation 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: $27,923
- Gross Receipts: $672,520
Assets and Liabilities:
- Total Assets: $874,345
- Total Liabilities: $17,500
- Net Assets: $856,845
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Organization Details
Founding Year
2018
Principal Officer
Kimberly Thompson
Main Address
100 West Main Street Suite 700, Lexington, KY, 40507
Website
www.ceoflex.orgNTEE Category
Code: X22 - Religion related
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