Beacon Education Foundation

Nonprofit profile at a glance

EIN
455433576
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015
Location
Virginia Beach, VA, USA
Phone
7574193939
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$81,490
Expenses
$74,879
Assets
$615,816
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • EDWIN S EPSTEIN (Director)
  • JERROLD L MILLER (PresSecr Treas)
  • BROOK J SMITH (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 increases access to higher education in the fields of Computer & Technology, Business & Criminal Justice, Health Science, Culinary Arts and Advanced Trade Skills.

What it reported doing in 2024

Scholarhip program - for students who are pursuing educational opportunities in the fields of computers and technology, business & criminal justice, health sciences, culinary arts, and advanced trade skills.

Operating model

Revenue model
Donor-supported. 74% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.2%; rating input score 82
  • Program expense ratio: 82.5%; rating input score 83
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.1%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 8.22; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -2.5% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 82.2% of revenue deployed · 82.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $62K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.