Arkansas Rural Endowment Fund Inc

Nonprofit profile at a glance

EIN
716051240
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Little Rock, AR, USA
Phone
5013752358
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$1,845,189
Expenses
$979,081
Assets
$32,767,523
Liabilities
$139,108

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

Leadership & pay

8 people listed

Executive titles in this filing

  • PAULA TERRELL (PRESIDENT)
  • CHRIS LAMPKIN (EXECUTIVE DIRECTOR)

People named in this filing

  • KENNETH MOURTON (DIRECTOR)
  • ANN B HATHAWAY (DIRECTOR)
  • PAULA TERRELL (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Providing student and agricultural loans in rural Arkansas

What it reported doing in 2024

With the passage of act 27 in 1959, the Arkansas general assembly created aref as a private, nonprofit entity with the sole purpose of making affordable loans to rural arkansans. Since that time, aref has helped thousands of arkansans attain higher education to pursue their dreams.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.4%; rating input score 30
  • Program expense ratio: 87.3%; rating input score 87
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 46.9%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 33.47; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 30.4% of revenue deployed · 87.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $855K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.