Cortland Community Foundation

Nonprofit profile at a glance

EIN
161561037
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-PF 2016
Location
Cortland, NY, USA
Phone
6077589553
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$855,705
Expenses
$796,690
Assets
$1,675,375
Liabilities
$11,215

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Stephen Franco (Vice President)
  • THOMAS E GALLAGHER (President)

People named in this filing

  • Stephen Franco (Vice President)
  • THOMAS E GALLAGHER (President)
  • John Reagan (Director)

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's major purpose is to provide grants and contributions for civic, educational and charitable programs, and for community development and low cost housing initiatives within the local community of Cortland, New York.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as 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 filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 86
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.7%; rating input score 90
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 85.4%; rating input score 85; 36th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: 6.9%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.1; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 89.7% of revenue deployed · 94% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $749K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 78 filed money-flow records
  • Related organizations: 25 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 55/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.