The Thomas R Elsasser Memorial Scholarship Fund Inc

Overview

Mission

The corporation was established to accept contributions for the benefit of widows, children, and dependents of members of the uniformed firefighters association of greater New York, local 94 i.a.f.f., who have died in non-line of duty circumstances.

What it reported doing in 2024

The corporation provided financial assistance to approximately 100 widows of ufa members who died in non-line of duty circumstances. The corporation also paid medical and catastrophic insurance premiums on behalf of such widows.

Operating model

Revenue model
Donor-supported. 79% 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.

Nonprofit profile at a glance

EIN
133661508
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Headquarters
New York, NY, USA
Phone
2126834832
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

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.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.5%; rating input score 99
  • Program expense ratio: 91.9%; rating input score 92
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.3%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 7.06; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 99.5% of revenue deployed · 91.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $547K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 11 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.

Leadership & pay

20 people listed

Source: IRS Form 990. Selected filing: FY2024.