Connexus Association Inc
Nonprofit profile at a glance
- EIN
- 611473074
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024, Form 990-N 2013
- Location
- Wausau, WI, USA
- Phone
- 7158474742
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $429,575
- Expenses
- $406,128
- Assets
- $1,203,498
- Liabilities
- $54,908
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- JULIA SALZMAN (PRESIDENT)
Highest reported compensation
- HEATHER GRUNDEMANN (EXECUTIVE DI): $18,500 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 purpose of connexus association is to provide scholarships for education, to assist educational institutions and to provide financial literacy education to help borrowers and savers reach their financial goals. In a limited fashion, the association may also engage in any charitable activity recognized in i.r.c. 501(c)(3).
What it reported doing in 2024
For 2024 connexus association continued the scholarship program giving out 33 - 1,000 scholarships to high school seniors. An additional 20,000 was distributed to northcentral technical college (ntc) and utilized for connexus association's scholarship program with ntc, income-based scholarships, and the student emergency grant program. As always, education remains one of our most important missions. In the last months of 2024, the board of directors for connexus association voted to continue providing funding and scholarships for the local schools. During 2024, connexus donated over 20,000 to 8 local schools for educational purposes. We also continued to provide free financial literacy courses to our members through our partnership with everfi. Lastly, we donated over 10k to other institutions to support stem and reading programs. We directly support financial literacy education including 27,500 to various junior achievement offices with thousands more dollars granted to organizations which would indirectly support financial literacy education.
Operating model
- Revenue model
- Membership-supported. 91% of the money available for current operations came from membership dues.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.
The verdict
STRONG - 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: 77
- Transparency & Controls: 81
- Accountability: 95
- Sustainability: 53
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.8%; rating input score 85
- Program expense ratio: 88.1%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 74.9%; rating input score 75; 47th 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: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: Fail
Sustainability
- Operating margin: 5.5%; rating input score 52; 52nd percentile among comparable filings
- Total-asset coverage ratio: 2.96; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
- Officer compensation ratio: 4.6%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: 6.9% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 84.8% of revenue deployed · 88.1% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $358K in reported program spending
- Leadership: top reported pay $18K · 6 people listed
- Consistency: 22 of 23 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes grants
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 10 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.
- Review — Sustainability: Operating margin scored 52/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.