Central Texas Quality of Life Foundation Inc

Nonprofit profile at a glance

EIN
932375883
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Austin, TX, USA
Phone
5129259968
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$201,576
Expenses
$4,667
Assets
$228,684
Liabilities
$11,759

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

Leadership & pay

3 people listed

Executive titles in this filing

  • GARY FARMER (PRESIDENT)

Highest reported compensation

  • ED LATSON (SECRETARY): $387,914 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 foundation aligns its mission with opportunity austin's economic and talent development strategies to improve awareness of in-demand careers, bolster workforce readiness, improve postsecondary access/affordability, address barriers to higher education/workforce credential attainment, deepen our regional talent pool, and connect employers to skilled talent.

What it reported doing in 2024

Fafsa workshops: support for opportunity austin's regional financial aid campaign to help graduating seniors and parents complete their fafsa. Steam internships: emerging leaders and steam internships for area high school students in partnership with the city of austin, bank of america and local school districts. Summer melt: outreach for perspective colledge students following high school graduation. Support addresses financial aid verification, college readiness requirements, postesecondary registration/orientation, and other process barriers to college enrollment. College and career outreach: direct calls to non-college intending students with marketing and messaging campaigns encouraging postsecondary enrollment in workforce programs.labor market reporting: labor market reporting for austin metro to evaluate strategic impact of economic development and education/workforce activities on postsecondary enrollment, degree/credential completion, and employment outcomes.in 2024 all of these expenses were incurred by opportunity austin because the 501(c)3 was not approved until december 2024.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 most voting board members are independent. 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: 0
  • Transparency & Controls: 65
  • Accountability: 65
  • Sustainability: 80
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 97.7%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 49; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 517.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $388K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.