Bacone College Development Corporation

Nonprofit profile at a glance

EIN
731288960
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
Muskogee, OK, USA
Phone
9187817216
Rating
34
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$540
Expenses
$0
Assets
$2,111,705
Liabilities
$90,172

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • FERLIN CLARK (PRESIDENT)
  • JEROME STEELE (VICE PRESIDENT OF FINANCE/CFO)

Highest reported compensation

  • FERLIN CLARK (PRESIDENT): $173,312 total reported compensation
  • JEROME STEELE (VICE PRESIDENT OF FINANCE/CFO): $94,841 total reported compensation
  • LEROY THOMPSON (VP OF ACADEMIC AFFAIRS): $71,291 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To receive and maintain a fund or funds of monies and property, real, personal or mixed and the principal thereof to be used exclusively for charitable, scientific and/or educational purposes by the application thereof to the use and for the benefit of bacone college.

What it reported doing in 2020

Entity holds title to property with all income going to bacone college for its exempt purposes.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 77
  • Sustainability: 3
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.04; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -34.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 55th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 31st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 10 of 10 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $173K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2009 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.