College Foundation Inc

Nonprofit profile at a glance

EIN
616035281
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Henderson, KY, USA
Phone
2708319805
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$409,337
Expenses
$65,821
Assets
$3,234,192
Liabilities
$2,187

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

Leadership & pay

21 people listed

People named in this filing

  • STEVE ARNETT (DIRECTOR)
  • BECKY CARROLL (DIRECTOR)
  • JINGER CARTER (CHAIR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fundraising arm for henderson community college to provide support and scholarships as needed.

What it reported doing in 2024

The college foundation, inc. Provides support for student scholarships at henderson community college. The foundation now provides financial support for approx. Twenty scholarship programs for the college. The awards range from 120 to 750 per semester to assist in the cost of tuition and books/fees. Additional financial support was provided to assist high school students in obtaining college credit through ap courses provided at their local high schools. The foundation provides financial support for the rotary colonels to college and braves to college programs which provides scholarships (administered by the college) to eligble students of henderson and union counties, respectively, who meet specific criteria to continue their education at henderson community college. Funds for these programs are remitted annually to the college's common fund where matching funds are awarded by the state of Kentucky.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 90
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.8%; rating input score 20
  • Program expense ratio: 70.8%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 83.9%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 49.14; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -6.2% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -4.2% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 19.8% of revenue deployed · 70.8% of spending went to programs
  • Governance: 20 of 20 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $47K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 20/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.