Business & Education Network Inc

Nonprofit profile at a glance

EIN
311628472
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
8592261624
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$227,365
Expenses
$819,861
Assets
$11,015
Liabilities
$24,735

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

Leadership & pay

15 people listed

Executive titles in this filing

  • HELEN E DEXTER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROBERT QUICK (BOARD MEMBER): $284,382 total reported compensation
  • GINA GREATHOUSE (BOARD MEMBER): $182,173 total reported compensation
  • HELEN E DEXTER (EXECUTIVE DIRECTOR): $129,112 total reported compensation

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

Overview

Mission

Ben was formed to assist in insuring an available skilled workforce for lexington through collaboration between business, education, and community partnerships.

What it reported doing in 2024

Regional competitiveness plan - development of a regional econcomic development competitiveness strategy with input and representation from the nine counties that comprise central Kentucky.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 83
  • Accountability: 91
  • Sustainability: 5
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.5%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -260.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 2.25; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 24% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.5% of spending went to programs
  • Governance: 13 of 14 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $586K in reported program spending
  • Leadership: top reported pay $284K · 15 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.