Bob Hoover Legacy Foundation

Nonprofit profile at a glance

EIN
465748095
IRS 990-EZ coverage
2017–2019
Forms available
Form 990 2016, Form 990-EZ 2019, Form 990-N 2017
Location
Maitland, FL, USA
Phone
4076448923
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$91,714
Expenses
$123,849
Assets
$292,001
Liabilities
$20,000

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • TRACY FORREST (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To educate the next generation on the art of flying as demonstrated by the life and accomplishments of robert a. "bob" hoover. To support a higher level of aviation competency with scholarships, and funding of organizations that promote aviation and the legacy of aviation.

What it reported doing in 2019

The organization provides educational scholarships to individuals who are pursuing a career in aviation and are attending an aviation-related educational institution. The purpose for the scholarships is to make this type of education available to those who would otherwise not be able to afford the training and education required for a career in aviation.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.

The verdict

SUPPORTED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 100
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.5%; rating input score 55
  • Program expense ratio: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -35%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -12.5% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 54.5% of revenue deployed
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2017 to 2019
  • Contacts: How to reach this organization
  • Money network: 2 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.