Calvary Fund Inc
Nonprofit profile at a glance
- EIN
- 133259649
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Bronx, NY, USA
- Phone
- 7185182069
- Rating
- 43
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $7,373,411
- Expenses
- $2,842,952
- Assets
- $42,453,566
- Liabilities
- $2,140,276
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- JEFFREY MENKES (INTERIM PRESIDENT/CEO)
- CHRISTOPHER COMFORT (PRESIDENT/CEO THRU MAY 2024)
Highest reported compensation
- JEFFREY MENKES (INTERIM PRESIDENT/CEO): $710,769 total reported compensation
- TIMOTHY BARR (EXEC. VP/TREASURER/SECRETARY): $440,091 total reported compensation
- ANDREW V GRECO (CHIEF FINANCIAL OFFICER): $430,286 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The calvary fund's primary exempt purpose is to raise public contributions to support the tax-exempt mission of calvary hospital, inc. And other health-related charitable organization.
What it reported doing in 2024
The fund's purpose is to solicit, accept, and receive real and personal property and to collect income, therefrom, to be applied exclusively for any health related charitable organization affiliated with the roman catholic archdiocese of New York. The current and historical intent has been to provide exclusive support to calvary hospital, inc.
Operating model
- Revenue model
- Donor-supported. 64% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 2
- Transparency & Controls: 58
- Accountability: 91
- Sustainability: 81
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 1.2%; rating input score 1
- Program expense ratio: 1.9%; rating input score 2
- Fundraising efficiency: $1.98 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 45.3%; rating input score 45; 15th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 92.3%; rating input score 92; 23rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 61.4%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 14.93; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
- Officer compensation ratio: 33.2%; rating input score 4; 4th percentile among comparable filings
Growth
- Program expense growth: -2.3% per year; rating input score 0; 8th percentile among comparable filings
- Revenue growth: 1% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 5% per year; rating input score 100; 35th percentile among comparable filings
Details
- Where the money goes: 1.2% of revenue deployed · 1.9% of spending went to programs
- Governance: 12 of 13 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $53K in reported program spending
- Leadership: top reported pay $711K · 23 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.2M reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 33 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 1/100.
- High — Financial Efficiency: Program expense ratio scored 2/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 5/100.
- Moderate — Transparency & Controls: Grant itemization coverage scored 45/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: CEO compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 4/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.