Ccarc Foundation Inc

Nonprofit profile at a glance

EIN
260149896
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
New Britain, CT, USA
Phone
8602296665
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$90,568
Expenses
$42,740
Assets
$3,539,690
Liabilities
$250,315

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JACK ISSAC (PRESIDENT)
  • MELISSA GAGNE (IMMEDIATE PAST PRESIDENT)
  • SCOTT BOOS (VICE PRESIDENT)
  • LINDA IOVANNA (CEO)
  • ZAIDA SOTO BAHAMONDE (SENIOR VICE PRESIDENT FINANCE)

Highest reported compensation

  • LINDA IOVANNA (CEO): $255,145 total reported compensation
  • ZAIDA SOTO BAHAMONDE (SENIOR VICE PRESIDENT FINANCE): $128,676 total reported compensation

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

Overview

Mission

Ccarc foundation, inc. Supports the programs and goals of ccarc, inc.

What it reported doing in 2024

The foundation's only program is to support ccarc, inc. In its mission.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 7
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.9%; rating input score 7
  • Program expense ratio: 8.8%; rating input score 9
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Fail
    • 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: 52.8%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 82.82; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 112.7%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 29.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 53rd percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 6.9% of revenue deployed · 8.8% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $255K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 7/100.
  • High — Financial Efficiency: Program expense ratio scored 9/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.