Brazos Education Foundation Inc

Nonprofit profile at a glance

EIN
264562436
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Waco, TX, USA
Phone
2547530915
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$46,294
Expenses
$528,983
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Thomas Litle (President & CEO)

Highest reported compensation

  • Thomas Litle (President & CEO): $994,139 total reported compensation
  • Ricky Turman (EVP/COO/CFO): $760,999 total reported compensation
  • Kelli Uttech (EVP, General Counsel): $543,912 total reported compensation

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

Overview

Mission

To provide affordable access to higher education that enriches the academic, economic, and cultural life through resources, scholarships, and information.

What it reported doing in 2024

To provide scholarships to deserving students in Texas.

Operating model

Revenue model
Investment-supported. 99% 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 68
  • Accountability: 23
  • Sustainability: 4
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,042.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 70.8%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: -14.3% per year; rating input score 0; 26th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99% of spending went to programs
  • Governance: 0 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $524K in reported program spending
  • Leadership: top reported pay $994K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.