COLA Resources Inc

Nonprofit profile at a glance

EIN
800875539
IRS 990 coverage
2013–2021
Forms available
Form 990 2021, Form 990-N 2012
Location
Springdale, AR, USA
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Support Services

Official website

Reported finances

Revenue
$171,180
Expenses
$393,513
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • James E Liggins (CEO and Chairman og the Board)

People named in this filing

  • Barry Craig (Director)
  • Jeanne Mumford (Director Board Secretary)
  • James E Liggins (CEO and Chairman og the Board)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provided educational and consulting services to improve laboratory medicine and patient care.

What it reported doing in 2021

Cola Resources, Inc. provided educational and consultive services to healthcare professionals with the goal of instructing and training these individuals to improve their skills and perform higher quality services for the communities they serve.The Educational and Consulting Programs had one overriding goal: To improve laboratory medicine and the quality of patient care associated with the day-to-day operations of laboratory medicine.The Educational Platform, offered both pace and continuing medical education credits, was tailored to all levels of clinical laboratory professionals (physicians, medical technologists, etc.). The curriculum included a diversified e-learning platform and a live symposia for healthcare participants.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -129.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $394K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2013 to 2021
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.