Vir Fidelis Fund Inc

Nonprofit profile at a glance

EIN
471968972
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2014
Location
Staten Island, NY, USA
Phone
7189872900
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$1,037,204
Expenses
$2,080,503
Assets
$3,217,199
Liabilities
$34,807

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • Fr Louis Jerome (Director)
  • Lou Bergonzi (Secretary)
  • Philip Geraci (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Mission of the Vir Fidelis Fund, Inc. is to solicit, raise, and distribute funds for the academic, social, and sports programs at Monsignor Farrell High School. Funds will be raised through donations from alumni, parents, and friends by soliciation, letters, phone calls, dinners, sporting events, dances, luncheons, and other similar events. In addition, Grants to Monsignor Farrell High School include for Tuition Scholarships, Financial Aid, Bloomberg Ticker, and Loan Principle and Interest.

What it reported doing in 2024

The purpose of the corporation is to solicit, raise, and distribute funds for the academic , social, and sports programs at Monsignor Farrell High School Funds will be raised through donations from alumni, parents, and friends by solicitation, letters, phone calls, dinners, sporting events, dances, luncheons, and other similar events. Expenses included Blackbaud maintenance, Postage and Shipping, Dues and Subscriptions, Travel and Meals, Student Gifts/Supplies, and Printing Expenses.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -100.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 1.55; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 33.6% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 8 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 5 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.