Barrett Foundation

Nonprofit profile at a glance

EIN
850336208
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5052469244
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$5,916,133
Expenses
$4,713,694
Assets
$5,773,765
Liabilities
$3,407,209

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

Leadership & pay

12 people listed

Executive titles in this filing

  • CORY LEE (CEO)
  • OLIN BROWN (President)

Highest reported compensation

  • CORY LEE (CEO): $93,515 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 end homelessness for women and children by providing shelter, housing and supportive services.

What it reported doing in 2024

Barrett house shelter for women and children: in may 1995, barrett foundation opened barrett house, a shelter for homeless women and children in albuquerque, nm. Barrett house services an average of 35 women and children every night, providing three meals a day, 365 days a year. In addition to providing food and shelter, all residents receive one-on-one case management to help secure long-term stable housing. Through collaboration with partner agencies, residents also have access to career counseling, medical and dental benefits, after school tutoring for children, health/wellness activities, cooking and gardening lessons, and a variety of other opportunities that provide life skills.

Operating model

Revenue model
Grant-funded. 62% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 60
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.2%; rating input score 66
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: $79.14 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 20.3%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 1.22; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 23% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 66.2% of revenue deployed · 82.8% of spending went to programs
  • Governance: 11 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3.9M in reported program spending
  • Leadership: top reported pay $94K · 12 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • 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.

  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.