Beam Foundation

Nonprofit profile at a glance

EIN
562012602
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-EZ 2021, Form 990-N 2018
Location
Charlotte, NC, USA
Phone
7047261472
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$245,064
Expenses
$226,063
Assets
$670,161
Liabilities
$353,932

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • T BRIAN GEORGE (PRESIDENT)
  • REGINALD BEAN (CEO)

People named in this filing

  • T BRIAN GEORGE (PRESIDENT)
  • REGINALD BEAN (CEO)
  • DR TAMARA HANNA (CHAIRPERSON)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote community service, leadership development, and educational opportunities to high-risk youth and adults in special situations.

What it reported doing in 2023

To promote community service, leadership development, and educational opportunities to high-risk youth and adults in special situations while maintaining a special emphasis on reaching out to young minority males

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 53
  • Accountability: 70
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.8%; rating input score 91
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 2.96; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 26.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 30.9% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 90.8% of revenue deployed · 98.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $223K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 21 current checks pass · 3 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 2 filing years from 2022 to 2023
  • 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.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.