Carpenters' Local 157 Scholarship Fund

Nonprofit profile at a glance

EIN
020602066
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
New York, NY, USA
Phone
2126850567
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$126,112
Expenses
$317,388
Assets
$1,729,625
Liabilities
$462,275

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

Leadership & pay

5 people listed

Highest reported compensation

  • ANTHONY MADAIO (DIRECTOR): $15,650 total reported compensation
  • MANGITO FOWLKES (DIRECTOR): $11,950 total reported compensation
  • JOSEPH KEATING (DIRECTOR): $10,175 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 program was designed to assist qualified applicants in attaining the benefits of a college education. The carpenters local 157 scholarship fund offers a way to express our continued efforts supporting education for our members' children.

What it reported doing in 2024

Scholarships awarded during the course of the year to qualified recipients.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 88
  • Accountability: 82
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -151.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 5.45; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 12.7% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $317K in reported program spending
  • Leadership: top reported pay $16K · 5 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 10 filing years from 2010 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.