Corry Area School District Foundation

Nonprofit profile at a glance

EIN
232889136
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Corry, PA, USA
Phone
8146644677
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$321,988
Expenses
$149,397
Assets
$1,468,356
Liabilities
$6,856

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JASON HALFAST (VICE PRESIDENT)
  • JOSEPH FRISINA (PRESIDENT)

People named in this filing

  • DORIS GERNOVICH (BOARD MEMBER)
  • ANDREA CHELTON (BOARD MEMBER)
  • JOEL COOK (TREASURER)

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

The Foundation provides scholarships and support to students.

What it reported doing in 2024

Provide programs, scholarships, and other support to the Corry Area School District and their students to further the educational goals of the District and surrounding communities.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. 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: 60
  • Transparency & Controls: 89
  • Accountability: 82
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.3%; rating input score 48
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 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: 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 53.6%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 9.83; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 20.3% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 20.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 14.6% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 48.3% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $149K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.