Colorado Restaurant Foundation
Nonprofit profile at a glance
- EIN
- 742488379
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Denver, CO, USA
- Phone
- 3038302972
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $1,680,592
- Expenses
- $1,677,057
- Assets
- $1,116,518
- Liabilities
- $292,389
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
43 people listed
Executive titles in this filing
- SONIA RIGGS (EXECUTIVE DIRECTOR)
- LAURA SHUNK (PRESIDENT)
Highest reported compensation
- SONIA RIGGS (EXECUTIVE DIRECTOR): $376,527 total reported compensation
- DEVANY MCNEILL (VP-STRATEGIC PARTNERSHIP): $193,233 total reported compensation
- LAURA SHUNK (PRESIDENT): $163,088 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Colorado restaurant foundation is dedicated to providing access to education, skills and financial means to pursue a successful career in the food service and hospitality industries.
What it reported doing in 2024
Special events: special events are held to recognize the accomplishments of program participants. Primary events held each year are the scholarship awards and prostart student invitational. The scholarship award event is held to recognize scholarship recipients in the prostart programs who are pursuing secondary education in the field. The Colorado prostart student invitational and national prostart student invitational) are competitions where prostart students compete with their peers in other Colorado high schools and with state winning teams from other states, respectively.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 77
- Accountability: 100
- Sustainability: 31
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 72.3%; rating input score 72
- Program expense ratio: 66.4%; rating input score 66
- Fundraising efficiency: $7.16 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 99.4%; rating input score 99; 49th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: 0.2%; rating input score 37; 37th percentile among comparable filings
- Total-asset coverage ratio: 0.67; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 29.9%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 9.9% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 12.9% per year; rating input score 100; 67th percentile among comparable filings
Details
- Where the money goes: 72.3% of revenue deployed · 66.4% of spending went to programs
- Governance: 29 of 29 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $1.1M in reported program spending
- Leadership: top reported pay $377K · 43 people listed · 2 of 6 pay-setting controls reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 9 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 36 filed money-flow records
- Related organizations: 29 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 — Financial Efficiency: Fundraising efficiency scored 27/100.
- Moderate — Sustainability: Operating margin scored 37/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- High — Sustainability: Officer compensation ratio scored 7/100.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.