Bancroft Community Foundation Inc

Nonprofit profile at a glance

EIN
421468316
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Algona, IA, USA
Phone
5152953565
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$282,460
Expenses
$31,684
Assets
$3,696,591
Liabilities
$138,974

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

Leadership & pay

6 people listed

Executive titles in this filing

  • ELLENGRAY G KENNEDY (President)

People named in this filing

  • SANDY TIGGES (Director)
  • JANICE DIETERING (Director)
  • KEN LAUBENTHAL (Director)

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

The foundation was created to raise funds and distribute grants for civic betterment projects in the city of bancroft, Iowa, which could not otherwise be funded by tax dollars due to budget constraints.

What it reported doing in 2024

The foundation made grants to support bancroft public library ($800), bancroft chamber of commerce ($800), total = $3,600. Those were all of the monetary grants for the fiscal year.the foundation continued its long-term project to provide a medical facility to the community. It also proceeded with a long term civic improvement project of restoration of a city building to provide a needed community business opportunity. Most of the donations, rent and capital expenditures related to these projects, which were not in the form of direct grants. The foundation built and owns the medical center, which is rented to the city and the area nonprofit hospital to provide medical services to residents. Rents received from those sources are used to retire construction debt on the facility and to pay expenses of the facility.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 13
  • Transparency & Controls: 86
  • Accountability: 6
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.9%; rating input score 1
  • Program expense ratio: 5%; rating input score 5
  • Fundraising efficiency: $351.58 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 88.8%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 116.67; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -18.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 0.9% of revenue deployed · 5% of spending went to programs
  • Governance: 0 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2013 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 1/100.
  • High — Financial Efficiency: Program expense ratio scored 5/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.