Boundless Strategic Resources Inc

Nonprofit profile at a glance

EIN
010684796
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Worthington, OH, USA
Phone
6148443800
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Specialized Education Institutions

Reported finances

Revenue
$28,785,253
Expenses
$29,656,302
Assets
$21,029,640
Liabilities
$25,453,281

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

Leadership & pay

29 people listed

Executive titles in this filing

  • PATRICK MAYNARD (PRESIDENT & CEO)
  • DIANE BEASTROM (VICE PRESIDENT OF TRANSITION)
  • JODI L BOPP (VICE PRESIDENT, ADVANCEMENT & COMMUNICATION)
  • MELANIE HUFFMAN (VICE PRESIDENT, PEOPLE & CULTURE)
  • RICHARD NEIGHBARGER (VICE PRESIDENT ANALYTICS AND TECHNOLOGY)

Highest reported compensation

  • PATRICK MAYNARD (PRESIDENT & CEO): $518,962 total reported compensation
  • DIANE BEASTROM (VICE PRESIDENT OF TRANSITION): $354,250 total reported compensation
  • CHRISTOPHER WOLF (CHIEF OPERATIONS OFFICER): $314,256 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Building a world that realizes the boundless potential of all people.

What it reported doing in 2024

Boundless strategic resources, inc. Serves as the parent, supporting organization by providing management services to its subsidiaries.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 1.21; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 82.5% of spending went to programs
  • Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $24.5M in reported program spending
  • Leadership: top reported pay $519K · 29 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $466K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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 — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.