Beckman Endowment Fund

Nonprofit profile at a glance

EIN
510179386
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Dyersville, IA, USA
Phone
5635560123
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.
Affiliation
Christianity

Reported finances

Revenue
$245,465
Expenses
$253,301
Assets
$4,720,573
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Chris Salrin (President)
  • Jeff Schmitt (Vice President until Feb 2024)
  • Steve Kruse (Vice President as of Feb 2024)

People named in this filing

  • Chris Salrin (President)
  • Jeff Schmitt (Vice President until Feb 2024)
  • Steve Kruse (Vice President as of Feb 2024)

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

The mission of the Beckman Endowment Corporation is to support Catholic education by generating funds for Beckman Catholic High School. Advancement of the Beckman Endowment will be obtained through promotion of Planned Gifts, solicitation of Capital funds, as well as preservation of principal & growth of assets through prudent investing.

What it reported doing in 2023

The endowment fund supported area education by promoting and providing funds for the students of Beckman Catholic High School.The first Annual Appeal Fund-drive was started in 1980 as an effort to raise funds for the operating budget. The funds are used to offset the per student cost. The appeal generates approximately $175,000 from alumni, parents, and benefactors of Beckman High School.A capital campaign was held in recent years. Over $7 million in cash and pledges were received to assist in building the current endowment funds as well as to provide assistance in capital improvements to Beckman Catholic High School.

Operating model

Revenue model
Investment-supported. 71% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 62
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 77.5%; rating input score 78
  • 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: 100%; rating input score 100; 81st percentile among comparable filings
  • 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 18.64; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -12.1% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -12.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 77.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $196K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2023
  • 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.

Key Signals

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

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.