Bennet Omalu Foundation

Nonprofit profile at a glance

EIN
841984953
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Sacramento, CA, USA
Phone
9165135253
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$176,000
Expenses
$175,552
Assets
$1,679
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BENNET OMALU (PRESIDENT & CEO)

People named in this filing

  • BENNET OMALU (PRESIDENT & CEO)
  • PREMA MUTISO (TRUSTEE)
  • UCHENNA NNEBE-AGUMADU (TRUSTEE)

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

Empowerment and develment of individuals through education and entrepreneurship.

What it reported doing in 2024

Guiding, financing and develping business start-ups and business development.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 84
  • Accountability: 0
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.7%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.5%; rating input score 93; 54th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.3%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 16.4% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 16% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: -28.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 99.7% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $176K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.