Canton College Foundation Inc

Nonprofit profile at a glance

EIN
237392114
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Canton, NY, USA
Phone
3153867127
Rating
81
Verdict
STRONG
Rating confidence
Standard

Official website

Reported finances

Revenue
$6,045,309
Expenses
$4,509,866
Assets
$45,453,705
Liabilities
$21,187,384

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

Leadership & pay

37 people listed

Executive titles in this filing

  • DR ZVI SZAFRAN (CAMPUS PRESIDENT)
  • TRACEY THOMPSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR ZVI SZAFRAN (CAMPUS PRESIDENT): $492,142 total reported compensation
  • SHAWN K MILLER (DIRECTOR): $304,311 total reported compensation
  • TRACEY THOMPSON (EXECUTIVE DIRECTOR): $274,058 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 canton foundation was formed in 1973 to provide financial support to the state university of New York at canton. The foundation provides student scholarships, supports faculty and staff development, and promotes campus enhancement projects.

What it reported doing in 2024

Canton college foundation, inc. Provides emergency student loans of a maximum of $400 per loan to students of the state university of New York at canton. The criteria for obtaining these loans is demonstrated need and available future funds receivable by the financial aid office at suny canton. These loans are repaid to canton college foundation by suny canton upon receipt by suny canton of financial aid or other funds on behalf of the student. Canton college foundation, inc. Charges the student a small processing fee per loan for this service.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 81
  • Accountability: 90
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 89.5%; rating input score 89
  • Fundraising efficiency: $9.57 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th 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: 25.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 10.08; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 77.1% of revenue deployed · 89.5% of spending went to programs
  • Governance: 30 of 36 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4M in reported program spending
  • Leadership: top reported pay $492K · 37 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 8 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.