Davis Educational Foundation

Nonprofit profile at a glance

EIN
042864042
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2022
Location
Yarmouth, ME, USA
Phone
2078469132
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$5,154,414
Expenses
$4,519,063
Assets
$130,344,004
Liabilities
$2,478,559

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

Leadership & pay

8 people listed

Highest reported compensation

  • Leanne Greeley Bond (Director of Grants & Programs): $164,514 total reported compensation
  • Yvonne B Mumme (Chief Finance & Admin. Officer): $150,984 total reported compensation
  • Edward MacKay (Chair): $43,750 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To strengthen the undergraduate programs of public and private, regionally accredited baccalaureate degree granting colleges and universities located in New England through grants.

What it reported doing in 2024

Grants made to colleges and universities in New England from organization assets, including direct investment related costs. See Schedule I for grants approved.

Operating model

Revenue model
Investment-supported. 83% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.1%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.9%; rating input score 100; 42nd 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: 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: 12.3%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 28.84; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $165K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $102K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 29 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.