Delta Education Scholarship Fund

Nonprofit profile at a glance

EIN
454264482
IRS 990 coverage
2012–2016
Forms available
Form 990 2016
Location
Norfolk, VA, USA
Phone
7574468544
Rating confidence
Limited
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$0
Expenses
$360,147
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • DONALD FORAN (PRESIDENT AND DIRECTOR)

People named in this filing

  • DONALD FORAN (PRESIDENT AND DIRECTOR)
  • WILLIAM FRANKLIN (SECRETARY AND DIRECTOR)
  • ALANNA MCCARGO (TREASURER AND 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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the corporation is to extend educational opportunities to prospective and enrolled students who have demonstrated financial need, personal achievement, and the potential for academic and career success through the establishment of a fund for the granting of scholarships, grants, and loans.

What it reported doing in 2016

Provided scholarships to students at private postsecondary institutions

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: -90.1% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -67.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -43.5% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $360K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2012 to 2016
  • 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.

  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.