Aaa Fair Credit Foundation

Nonprofit profile at a glance

EIN
841411225
IRS 990 coverage
2016–2021
Forms available
Form 990 2021
Location
Salt Lake City, UT, USA
Phone
8014830999
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$539,032
Expenses
$436,552
Assets
$1,030,789
Liabilities
$25,174

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • ELLEN BILLIE (FORMER EXECUTIVE DIRECTOR)

Highest reported compensation

  • ELLEN BILLIE (FORMER EXECUTIVE DIRECTOR): $59,236 total reported compensation
  • SAMUEL HOBI (Executive Dir.): $575 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Teach individuals and families how to manage their finances wisely to improve and sustain financial well-being

What it reported doing in 2021

FINANCIAL COACHING AND EDUCATION - Certified personal finance coaches help clients to set and achieve goals for self-reliance and financial mobility. This is done through education on the basics of personal finance paired with goal setting, accountability, ongoing communication, and connection to resources.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 69% for direct work, and 31% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 75
  • Accountability: 74
  • Sustainability: 62
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75%; rating input score 75
  • Program expense ratio: 92.6%; rating input score 93
  • Fundraising efficiency: $55.63 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 64.3%; rating input score 64; 13th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 19%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 13.7%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -19.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -13.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -7.2% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 75% of revenue deployed · 92.6% of spending went to programs
  • Governance: 9 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $404K in reported program spending
  • Leadership: top reported pay $59K · 15 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2016 to 2021
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 26/100.