Alef Fund Inc

Nonprofit profile at a glance

EIN
262919210
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Atlanta, GA, USA
Phone
4048701635
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Judaism

Official website

Reported finances

Revenue
$395
Expenses
$533,708
Assets
$0
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • STEPHANIE WYATT (IMMEDIATE PAST PRESIDENT)
  • DAVID LEVITAN (PRESIDENT)

Highest reported compensation

  • RACHEL ROSNER (SECRETARY/TREASURER): $63,502 total reported compensation

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

Overview

Mission

The alef fund will provide scholarships to pre-kindergarten, kindergarten, primary or secondary public school students from low to middle income families who wish to attend jewish schools in the state of Georgia. The guiding principle of alef's work is to improve affordability of jewish education through awarding scholarships to eligible students. It is alef's goal to raise as much money as possible and make it easily accessible to those who need it.

What it reported doing in 2023

Providing scholarship funds to Georgia jewish day schools in accordance with title 20 chapter 2a and title 48 chapter 7 of the official code of Georgia annotated and applicable regulations promulgated by the Georgia department of revenue.

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 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 1
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.4%; rating input score 96
  • 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: 99.9%; rating input score 100; 60th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -135,015.9%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $514K in reported program spending
  • Leadership: top reported pay $64K · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 14 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.