Capital Foundation of New York Inc

Nonprofit profile at a glance

EIN
832344650
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New Paltz, NY, USA
Phone
8452048090
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Student Services, Organizations of Students

Reported finances

Revenue
$268,835
Expenses
$302,511
Assets
$56,070
Liabilities
$184,759

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

Leadership & pay

8 people listed

Executive titles in this filing

  • NOA SIMONS (PRESIDENT AND DIRECTOR)
  • RANDY BIANCHI (VICE PRESIDENT AND DIRECTOR)

Highest reported compensation

  • NOA SIMONS (PRESIDENT AND DIRECTOR): $158,052 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 capital foundation of ny has been formed to produce and administer educational activities related to entrepreneurship and advancing entrepreneurial pursuits. The capital foundation of New York is the administrator and producer of the ny business plan competition, a ny intercollegiate entrepreneurship competition, providing experiential education for students interested in entrepreneurship. There are 10 regional competitions in each region in New York state, where competitors apply and compete in a competition that is judged by local business leaders. Finalists from each of several tracks advance to statewide final competition where they compete for prize money and recognition. The capital foundation of New York provides mentorship and leadership training to executives seeking to improve their effectiveness in growing and developing opportunities.

What it reported doing in 2024

The ny business plan competition ("nybpc") is a ny intercollegiate entrepreneurship competition, providing experiential education for students interested in entrepreneurship. There are 10 regional competitions in each region in New York state, where competitors apply and compete at a competition that is judged by local business leaders. Finalists from each of several tracks advance to the statewide final competition where they compete for prize money and recognition.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 65
  • Accountability: 77
  • Sustainability: 17
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.5%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 3.3; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 28.1% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 19.1% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 87.8% of spending went to programs
  • Governance: 7 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $266K in reported program spending
  • Leadership: top reported pay $158K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 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.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.