Ablelight Foundation Inc

Nonprofit profile at a glance

EIN
391336413
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Watertown, WI, USA
Phone
9202613050
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support
Affiliation
Christianity

Reported finances

Revenue
$12,425,971
Expenses
$106,694
Assets
$131,356,408
Liabilities
$5,440,478

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

Leadership & pay

16 people listed

Executive titles in this filing

  • KEITH JONES (PRESIDENT AND CEO)
  • SONAL SHUKLA (AREA VICE PRESIDENT)
  • KATHY BURKE (AREA VICE PRESIDENT)

Highest reported compensation

  • KEITH JONES (PRESIDENT AND CEO): $686,376 total reported compensation
  • JEFFREY KACZMARSKI (VP AND CHIEF LEGAL OFFICER): $417,403 total reported compensation
  • BRIAN SAVOIE (VP AND CHIEF FINANCIAL OFFICER): $399,892 total reported compensation

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

Overview

Mission

See description of mission at Schedule O supplemental information for Form 990, Part I, Line 1.

What it reported doing in 2024

The corporation is a charitable, religious and educational organization, the purpose of which is to solicit, hold, manage, invest and expend endowment funds and other gifts, grants and bequests, whether consisting of real or personal property, and whether subject to directions or conditions imposed by donors, exclusively for the maintenance and benefit of ablelight inc of watertown, Wisconsin and such of its charitable, religious or educational programs or activities as the board of directors of this corporation from time to time deem to be suitable and appropriate.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 84
  • Accountability: 91
  • Sustainability: 86
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 99.1%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,231.15; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 380.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $686K · 16 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.