City Fund

What it reported doing in 2024

Today, our educational system works well for far too few children in the united states. This failure not only deprives millions of children of a legitimate pathway to pursue gainful employment and a purpose-filled life, but it is also a threat to the wellbeing of our nation.to address these systemic challenges, city fund invests in and supports city-based nonprofit organizations dedicated to increasing the number of high-quality public schools in their cities and otherwise improving outcomes for all children. City fund supports nonprofits that share its mission in three core ways: advising; funding; and convening. (continued on sch. O)advising: city fund provides advising and coaching support to the leaders of city-based nonprofit organizations aiming to improve public school outcomes. City fund focuses its advising efforts on city-based non-profit organizations that are playing a key leadership roleinvesting in the creation of new, high-quality public schools, funding and developing educator talent pipelines, engaging their community, and supporting education policy improvements.funding: city fund provides funding to city-based nonprofit organizations focused on improving public schools. Through this grantmaking, city fund makes strategic investments in the most effective, high-impact, or promising organizations working on the development and growth of high-quality public schools and affiliated educational programming for disadvantaged children.convening: city fund also convenes city-based education nonprofit leaders and other key stakeholders in communities of practice to facilitate peer-to-peer learning. These events bring nonprofit leaders, funders, and other stakeholders together to learn about different approaches to improving public education. The convenings consist of conferences, working group meetings, and other in-person meetings across the country. The purpose of all convenings is to unite those working to improve outcomes for children in order to share best practices and new insights.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 94.7%; rating input score 95
• Fundraising efficiency: $73.44 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: -116.6%; rating input score 0; 0th percentile among comparable filings
• Total-asset coverage ratio: 0.47; rating input score 17; 17th percentile among comparable filings
• Liabilities to assets ratio: 0.28; rating input score 58; 58th percentile among comparable filings
• Officer compensation ratio: 3.1%; rating input score 36; 36th percentile among comparable filings

Growth

• Program expense growth: 10.4% per year; rating input score 100; 76th percentile among comparable filings
• Revenue growth: -3.1% per year; rating input score 0; 2nd percentile among comparable filings
• Asset growth: 8.5% per year; rating input score 100; 62nd percentile among comparable filings