Angelo State University Robert G Carr a Foundation

Nonprofit profile at a glance

EIN
751658292
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
San Angelo, TX, USA
Phone
3259422237
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$8,965,652
Expenses
$11,849,120
Assets
$186,581,819
Liabilities
$0

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

Leadership & pay

13 people listed

Highest reported compensation

  • CANDICE UPTON BREWER (DIRECTOR OF OPERATIONS): $110,021 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 angelo state university robert g. Carr and nona k. Carr scholarship foundation was established under the wills of robert g. Carr and nona k. Carr. The wills provide that all proceeds from oil, gas and other mineral properties be held and invested by the trustees and that the net investment income realized from such investments (excluding realized gains and losses on sales of investment securities), after the payment of all costs and expenses of the foundation, be paid into a designated scholarship fund of angelo state university " asu" (supported organization) for the purpose of providing academic scholarships for needy and worthy students enrolled at asu.

What it reported doing in 2024

Scholarship-payments were made into a designated fund of angelo state university from which academic scholarships are awarded to needy and worthy students enrolled at angelo state university. During the 2024-2025 tax year, the foundation transferred $11,533,819 to the university to be used for scholarships.

Operating model

Revenue model
Other-operating. 63% of the money available for current operations came from other operating revenue.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 79
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.3%; 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; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -32.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 15.75; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: -2.7% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $11.5M in reported program spending
  • Leadership: top reported pay $110K · 13 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Revenue growth scored 0/100.