3 to 1 Foundation

Nonprofit profile at a glance

EIN
752731283
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Frisco, TX, USA
Phone
9722333323
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Official website

Reported finances

Revenue
$247,004
Expenses
$139,810
Assets
$1,328,315
Liabilities
$571

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • WAYNE DOMINICK (EXECUTIVE DIRECTOR)
  • ZANE HARRIS (VICE PRESIDENT/DIRECTOR)

Highest reported compensation

  • WAYNE DOMINICK (EXECUTIVE DIRECTOR): $62,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To serve the community by providing financial seminars and tools for budgeting, financial goal setting, debt management, investment basics, wealth accumulation and wealth management. To provide need & academic-based scholarships for college students.

What it reported doing in 2023

The organization conducts seminars providing information and tools for budgeting, financial goal setting, debt management, investment basics, wealth accumulation and wealth management. Seminars conducted for high school students also includes presenting information about careers in accounting, tax, banking, financial planning and investment advising. The organization also awards scholarships to college students. Over the past 2-3 years the organization has added more financial education initiatives in elementary & middle schools; and disd magnet high schools. Most of our programming is provided to the public free of charge.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 94
  • Accountability: 60
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 71%; rating input score 71
  • Fundraising efficiency: $2.5 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

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; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.1%; rating input score 94; 26th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 43.4%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 9.5; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 44.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 71% of spending went to programs
  • Governance: 16 of 17 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $99K in reported program spending
  • Leadership: top reported pay $62K · 17 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.