Delaware Financial Education Alliance Inc
Nonprofit profile at a glance
- EIN
- 222549908
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Dover, DE, USA
- Phone
- 3026740200
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Financial Institutions
Reported finances
- Revenue
- $685,429
- Expenses
- $596,498
- Assets
- $959,116
- Liabilities
- $24,017
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- KARYN POLAK (PRESIDENT, CEO & TREASURER)
- SARAH A LONG (FORMER PRESIDENT, CEO & TREASURER)
Highest reported compensation
- SARAH A LONG (FORMER PRESIDENT, CEO & TREASURER): $348,616 total reported compensation
- GREGORY KOSELUK (SVP MKTG & PUBLIC RELATIONS): $124,341 total reported compensation
- MARGARET E CREGAN (CHIEF ADMINISTRATIVE OFFICER): $122,107 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 provide financial literacy training designed for and targeted to persons of low and moderate income in the state of Delaware through a variety of educational programs and to provide quality training programs to employees of member banks in the financial services industry in Delaware.
Operating model
- Revenue model
- Earned-program. 86% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 79
- Accountability: 100
- Sustainability: 56
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70.3%; rating input score 70
- Program expense ratio: 85%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- 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: Limited
- 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: 13%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 1.61; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 60; 60th percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
- Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 14.1% per year; rating input score 100; 70th percentile among comparable filings
Details
- Where the money goes: 70.3% of revenue deployed · 85% of spending went to programs
- Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $507K in reported program spending
- Leadership: top reported pay $349K · 20 people listed · 3 of 6 pay-setting controls reported
- Consistency: 19 of 19 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- 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: Total-asset coverage ratio scored 58/100.