Bags Foundation Ct Inc

Nonprofit profile at a glance

EIN
472267166
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Waterbury, CT, USA
Phone
2035931182
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$1,831,491
Expenses
$2,281,341
Assets
$1,130,800
Liabilities
$1,590,015

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

Leadership & pay

6 people listed

Highest reported compensation

  • NAKIA REDDICK (EXECUTIVE DI): $157,193 total reported compensation

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

Overview

Mission

To provide support for after school programs and summer programs for innercity youth in waterbury ct.

What it reported doing in 2024

To assist underpriviledged children

Operating model

Revenue model
Grant-funded. 96% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 65
  • Accountability: 74
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.5%; rating input score 90
  • Program expense ratio: 71.9%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • 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: -24.6%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 1.41; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 22.7% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 46.3% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 89.5% of revenue deployed · 71.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $157K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.