Cole Foundation Inc

Nonprofit profile at a glance

EIN
455417308
IRS 990 coverage
2012–2021
Forms available
Form 990 2021, Form 990-T 2021
Location
Coudersport, PA, USA
Phone
8142749300
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$195,438
Expenses
$235,199
Assets
$2,362,233
Liabilities
$366,269

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ANDREA STREICH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TERRY FOUST DO (VICE CHAIR): $919,220 total reported compensation
  • JANIE HILFIGER (ASSIST SECRETARY/TREASURER): $317,105 total reported compensation
  • EDWARD PITCHFORD (ASSIST SECRETARY/TREASURER): $292,699 total reported compensation

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

Overview

Mission

The cole foundation is a non-profit organization dedicated to supporting and enhancing the work of upmc cole as it serves its communities by promoting awareness of needs and goals and identifying and connecting donors to those needs.

What it reported doing in 2021

The cole foundation operates the gift shop. Net gift shop profits were approximately $1,000. In addition, the cole foundation holds several special events each year, including the annual golf tournament that raised $28,700, the annual light up a life tree lighting event that raised approximately $16,500, and operation appreciation that made $4,700. The cole foundation also supports the operation of charles cole memorial hospital. Total support during fiscal year 2022 was $21,890.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 71
  • Accountability: 73
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.1%; rating input score 97; 57th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 70%; rating input score 70; 19th 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: -20.3%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 10.04; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 56.3%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 9% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 20% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.6% of spending went to programs
  • Governance: 7 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $220K in reported program spending
  • Leadership: top reported pay $919K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2012 to 2021
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 143 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 — Sustainability: Operating margin scored 11/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.