Businessindustry Foundation of Middlesex County Inc

Nonprofit profile at a glance

EIN
222793181
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Middletown, CT, USA
Phone
8603476924
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$718,595
Expenses
$720,425
Assets
$1,077,559
Liabilities
$450,616

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

Leadership & pay

17 people listed

Executive titles in this filing

  • DARLENE BRIGGS (PRESIDENT)
  • JAY POLKE (VICE PRESIDENT)

Highest reported compensation

  • JOHANNA BOND (SECRETARY): $234,396 total reported compensation
  • STEVE CISKOWSKI (CONTROLLER): $82,377 total reported compensation

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

Overview

Mission

The foundation conducts educational seminars and employment related programs for the benefit of the business community.

What it reported doing in 2024

The recovery employment program (rep) helps those in recovery rebuild lives that have been torn and ripped apart due to addiction. Many don't see a way out, or no hope. But with the rep, there is. We offer employment to many who even see themselves as unemployable. Why? Many have the proper skills sets, but are lacking self-esteem due their past addiction. However, the recovery employment program reasserts confidence in the job applicant's abilities and in themselves as they gain employment. We offer job coaching as well as counsel. This is not just a job placement program, but it is a life skill program that will help people in recovery with the life skills they need through the coaching aspect of the program.the recovery employment program, is a program with opportunities.this program will serve the community of those who are in recovery and putting their lives back together. Together as a community we can help them take the necessary steps on their road.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.5%; rating input score 98
  • Program expense ratio: 98.2%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 98.5% of revenue deployed · 98.2% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $707K in reported program spending
  • Leadership: top reported pay $234K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.