Centre Foundation Inc
Nonprofit profile at a glance
- EIN
- 251782197
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- State College, PA, USA
- Phone
- 8142376229
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $8,389,686
- Expenses
- $7,253,338
- Assets
- $83,384,700
- Liabilities
- $4,373
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- MOLLY KUNKEL (PRESIDENT/CEO)
Highest reported compensation
- MOLLY KUNKEL (PRESIDENT/CEO): $179,293 total reported compensation
- CARRIE RYAN (CFO/COO): $159,700 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Centre foundation formed to receive, hold and administer funds for the benefit of the community. Endowment funds generate earnings for grants to local 501(c)(3) organizations for the benefit of arts, humanities, culture, education, recreation and social service agencies in centre county Pennsylvania and surrounding regions.
What it reported doing in 2024
Centre foundation believes in the organizations that are creating a better future for centre county and the donors who support them. We work to inspire philanthropy, build endowments, create community engagement, strengthen organizations through training and research, fund transformative projects, and convene effective partnerships around community issues. Each year, centre foundation distributes grants to over 200 organizations. Programs support all kinds of work, across all nonprofit sectors and focuses including: arts, humanities, culture, education, social services and conservation. We provide annual community support through our innovative giving and granting programs including: centre gives, centre inspires, centre pact, giving circle, field of interest grants, and scholarships to universities and trade schools. Centre foundation is accredited through the national standards for u.s. Community foundations.
Operating model
- Revenue model
- Donor-supported. 75% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 74
- Accountability: 96
- Sustainability: 77
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.1%; rating input score 92
- Program expense ratio: 87.6%; rating input score 88
- Fundraising efficiency: $12.86 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings
Transparency & Controls
- Consistency checks: 95%; rating input score 95; 25th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 92.2%; rating input score 92; 27th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 93.8%; rating input score 94; 24th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 13.5%; rating input score 69; 69th percentile among comparable filings
- Total-asset coverage ratio: 11.5; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
- Officer compensation ratio: 4.7%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 10.5% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
- Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 92.1% of revenue deployed · 87.6% of spending went to programs
- Governance: 15 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $6.4M in reported program spending
- Leadership: top reported pay $179K · 16 people listed · 4 of 6 pay-setting controls reported
- Consistency: 34 of 35 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 175 filed money-flow records
- Related organizations: 174 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 56/100.