Association of Small Foundations

Nonprofit profile at a glance

EIN
650617866
IRS 990 coverage
2011–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Washington, DC, USA
Phone
2025806560
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$3,267,087
Expenses
$3,343,665
Assets
$3,694,614
Liabilities
$1,008,834

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • PAUL D DAUGHERTY (CEO)

Highest reported compensation

  • PAUL D DAUGHERTY (CEO): $350,724 total reported compensation
  • KATY MOORE (MANAGING DIR, ADVANCEMENT): $187,410 total reported compensation
  • KELLY STORMER (MANAGING DIR, OPERATIONS & PEOPLE): $154,566 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To amplify & increase the impact of lean funders in order to transform communities through informed giving. With more than 1,500 members in every corner of the us, we are a nationwide network of community connected philanthropy leaders, donors & funders with lean operations.

What it reported doing in 2025

Conference: exponent philanthropy's annual conference is the premier gathering for lean funders. Held annually, the conference offers a unique space for philanthropists to connect, share experiences, and learn from one another. In 2025, the conference convened almost 500 participants in columbus, oh. With over 45 sessions featuring 100+ speakers, presenters and experts, this year's agenda showcased bold ideas and strategies to advance philanthropic missions. The event features a variety of sessions, including workshops, plenaries, and site visits, covering topics such as catalytic philanthropy, equity-centered practices, and foundation management fundamentals.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 75.1%; rating input score 75
  • Fundraising efficiency: $1.77 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.1; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 24.7%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 75.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $351K · 21 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $117K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.