Booker Promise Foundation Inc

Nonprofit profile at a glance

EIN
842585940
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Sarasota, FL, USA
Phone
9419280567
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$103,133
Expenses
$124,994
Assets
$731,906
Liabilities
$0

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

Leadership & pay

4 people listed

People named in this filing

  • FRED CHAMBERLAIN (SECRETARY/TR)
  • KC SUZUKI ESQ (DIRECTOR)
  • DR RACHEL SHELLEY (VICE CHAIR)

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

Provide college scholarships to high school students.

What it reported doing in 2024

Purchase prepaid college scholarships from Florida prepaid scholarship program for the benefit of booker high students particpating in the booker promise program.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 92% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 48
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.4%; rating input score 94
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: $7.44 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -21.2%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 5.86; rating input score 82; 82nd 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: -6.7% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -21.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 24.6% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 94.4% of revenue deployed · 77.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $97K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.