3535 Foundation

Nonprofit profile at a glance

EIN
884067215
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Fargo, ND, USA
Phone
7012100595
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Reported finances

Revenue
$656,650
Expenses
$380,391
Assets
$304,392
Liabilities
$28,133

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DOUGLAS VANDERMEULEN (PRESIDENT)

Highest reported compensation

  • MICHAEL BEATTY (SECRETARY): $14,976 total reported compensation

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

Overview

Mission

The 3535 foundation exists to support and promote the ministry of the community baptist church and other confessionally reformed and baptistic causes. We intend to do this through promotional, educational, and other activities that support the religious convictions stated above that align with the religious convictions of the community baptist church of fargo.

What it reported doing in 2024

Conferences - in 2024, the 3535 foundation orchestrated two prestigious conferences, each designed to elevate the foundation's mission within the reformed baptist community. These events offered a unique platform for influential leaders in the church and academia to engage, deliberate, and deepen their understanding of the foundation's visionary objectives.boston conference (april 20-24, 2024)location: boston, Massachusetts- purpose: to unveil the mission and purpose of the 3535 foundation to key reformed baptist leaders.- participants: 12 distinguished men from various parts of the country were invited.- focus areas: publishing of rare and scholarly works conferences with international speakers scholarships for seminary and post-graduate work at elite institutions church planting initiatives in underserved communitieshighlights:- the foundation's vision and key activities were presented, accompanied by an extensive q&a session.- distribution of exclusive literature on the 17th century particular baptist history.- a lecture by dr. Chad van dixhoorn on 17th century ecclesiastical debates in london, with a focus on their impact on modern theology.- a vibrant and collegial atmosphere with numerous opportunities for both formal and informal discussions.- a strong emphasis on advancing reformed baptist causes through local churches rather than institutions, with practical strategies shared.future plans:- continued use of boston as a strategic location to promote the foundation.- enhancing networking opportunities between reformed baptist leaders and academic scholars, including international exchanges.fargo conference (august 13-15, 2024)location: fargo, North Dakota- goals: to increase awareness of the foundation to gather reformed baptists from diverse backgrounds to initiate teachings on 1689 ecclesiology, with a modern application perspectivehighlights:- despite a late registration, a robust number of attendees participated.- positive feedback from conference review forms, highlighting the enriching experience.- keynote speakers included dr. James renihan and dr. Chad van dixhoorn, focusing on the historical context of the 17th century ecclesiastical debates and their relevance today.- distribution of exclusive literature such as the psalter, psalms for worship, and key works by matthew bingham and others, with accompanying study guides.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 94
  • Accountability: 60
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 57
  • Program expense ratio: 97.1%; rating input score 97
  • 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: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 42.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 150% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 150% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 97.1% of spending went to programs
  • Governance: 3 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $369K in reported program spending
  • Leadership: top reported pay $15K · 4 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.