Cdu Foundation

Nonprofit profile at a glance

EIN
843689595
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Los Angeles, CA, USA
Phone
3235635929
Rating
30
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$13,692,010
Expenses
$0
Assets
$23,954,710
Liabilities
$0

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

Leadership & pay

5 people listed

Highest reported compensation

  • ANGELA MINNIEFIELD (FORMER BOARD CHAIR): $340,304 total reported compensation
  • ELIZABETH BASKERVILLE (TREASURER): $334,149 total reported compensation
  • CARL MCLANEY (SECRETARY): $308,611 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 purpose of this corporation is to perform the charitable functions of and carry out the charitable purposes of charles r. Drew university of medicine and science (cdu), a California nonprofit public benefit corporation. This organization is a supporting organization controlled by the head organization, as specified in section 509(a)(3) of the IRS code.

What it reported doing in 2024

The cdu foundation supports the new market tax credit structure used for capital expansion of the charles r. Drew university of medicine and science. The expansion will include a student center, a grand entrance, and a wellness building.

Operating model

Revenue model
Affiliate-supported. 99% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 65
  • Accountability: 37
  • Sustainability: 12
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 94.5% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 20.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $340K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 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
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.