Oscar & Mildred Larson Scholarship Trust

Overview

Mission

To provide financial aid to eligible muhlenberg college students.

What it reported doing in 2024

No expenses to report.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

Nonprofit profile at a glance

EIN
222783287
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Allentown, PA, USA
Phone
4846643140
Rating
25
Verdict
REVIEW
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: 8
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

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

Growth

  • Program expense growth: -16.7% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 0 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $517K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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

3 people listed

Highest reported compensation

  • KATHLEEN HARRING (PRESIDENT): $517,421 total reported compensation
  • CURTIS TOPPER (CHIEF BUSINESS OFFICER AND): $274,124 total reported compensation
  • LAURA FURGE (PROVOST): $257,266 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.