The Cathedral Book Store

Nonprofit profile at a glance

EIN
580648112
IRS 990 coverage
2019–2020
Forms available
Form 990 2020, Form 990-T 2020
Location
Atlanta, GA, USA
Phone
4042377582
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Reported finances

Revenue
$81,233
Expenses
$196,326
Assets
$173,285
Liabilities
$38,484

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

20 people listed

Highest reported compensation

  • CORY LITES (MANAGER): $53,148 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide religious materials to the episcopal diocese of atlanta and the community at large.

What it reported doing in 2020

We serve the cathedral of st philip, the diocese of atlanta, and the community at large by offering for sale religious and secular merchandise such as the book of common prayer, bibles, other books, music, gifts, greeting cards, and church supplies such as hymnals, wafers, candles, and incense. We also visit churches and other organizations in the region to sell our products.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 88
  • Accountability: 79
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 61.5%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83.9%; rating input score 84; 53rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -141.7%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 27.1%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -28.8% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -85.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -41.5% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 61.5% of spending went to programs
  • Governance: 19 of 19 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $121K in reported program spending
  • Leadership: top reported pay $53K · 20 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 2 filing years from 2019 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.