Aj Fletcher Foundation

Nonprofit profile at a glance

EIN
237423031
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-T 2021
Location
Raleigh, NC, USA
Phone
9193222580
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$12,098,985
Expenses
$10,308,195
Assets
$279,221,023
Liabilities
$103,408

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

Leadership & pay

11 people listed

Executive titles in this filing

  • BARBARA L GOODMON (PRESIDENT)

Highest reported compensation

  • DAMON J CIRCOSTA (V.P/ EXEC. DIR./ASST SECRE): $262,483 total reported compensation
  • NICOLE STEWART (DIRECTOR OF ENGAGMENT): $122,121 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 schedule othe a.j. Fletcher foundation operates for the exclusive benefit of the fletcher academy, school of achievement, inc. And in furtherance of a purpose of the fletcher academy, a designated class of other charitable organizations. Through its grants, the foundation supports the fletcher academy and other public charities located in North Carolina or serving North Carolina residents that have as one of their purposes the care or support of the elderly, infirm or indigent, the promotion of education, artistic endeavors, communication arts, or public recreation or the fostering of religious faith.

What it reported doing in 2024

The a.j. Fletcher foundation is a supporting organization for the fletcher academy school of achievement, inc., serving North Carolina as an independent, co-educational day school with over 200 students in grades 1-12 with learning disabilities and/or attention deficit disorders. The academy helps these special students master basic academic and social skills while instilling in them a positive sense of their own responsibility for learning. The school is accredited by the southern association of independent schools and the southern association of colleges and schools.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 64
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.9%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 57.1%; rating input score 57; 9th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.8%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 27.09; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: -17.1% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 14.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.4% of spending went to programs
  • Governance: 4 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $9.3M in reported program spending
  • Leadership: top reported pay $262K · 11 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $359K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, grants, executive pay, and related organizations
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 72 filed money-flow records
  • Related organizations: 74 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Independent voting board scored 57/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.