Buteux Holdings Corporation

What it reported doing in 2024

Buteux holdings corporation is organized on a membership basis. The brothers of the sacred heart, inc., a 501 (c)(3) organization, is the sole member. There are no certificates of membership. Buteux holdings corporation is organized pursuant to section 79-11-101, et seq, of the Mississippi code of 1972, and is intended to qualify as a tax exempt corporation pursuant to section 501(c)(2) of the code, and it shall be operated exclusively for the purpose of holding title to real property. Collecting income therefrom, and turning over the entire amount thereof, less expenses, to its sole member, brothers of the sacred heart, a religious and charitable Louisiana non-profit corporation exempt from taxation pursuant to section 501(c)(3) of the code, in order to provide support and income for the educational, religious and charitable pursuits of that organization. In connection with the foregoing, the corporation may generally perform any act which is incidental and necessary to the objects and purposes set forth-herein. Without limitation of the foregoing, the corporation may own, lease, acquire, and dispose of real and personal property, hold and invest funds and intangible property, raise money by any appropriate activity, and accept donations if in the opinion of the board, such donations will foster the purposes set forth herein. By formal resolution of the board of directors of st. Stanislaus college, inc., buteux holdings corporation received title to the land and buildings of st. Stanislaus high school. The corporation has executed a lease on a triple net basis with st. Stanislaus college, inc. Buteux holdings corporation pays monthly dividends over the same period of time and in the same amount to its shareholder, the brothers of the sacred heart. Two thousand dollars remains in the checking account to keep the account open afterpaying dividends and thus avoiding service charges. This procedure continues annually.

Financial Efficiency

• Mission deployment rate: 0%; rating input score 0
• Program expense ratio: 0%; rating input score 0
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
• Governance controls: 5 of 9 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Limited
  • Other executive compensation review process: Limited
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -117.4%; rating input score 18; 18th percentile among comparable filings
• Total-asset coverage ratio: 25.47; rating input score 83; 83rd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: Limited

Growth

• Program expense growth: Limited
• Revenue growth: -5.1% per year; rating input score 0; 43rd percentile among comparable filings
• Asset growth: -5.8% per year; rating input score 0; 19th percentile among comparable filings