Detroit Omega Foundation Incorporated

Nonprofit profile at a glance

EIN
382474892
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-N 2017
Location
Southfield, MI, USA
Phone
3138759980
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$259,940
Expenses
$220,606
Assets
$548,362
Liabilities
$100,525

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Benjamin Bohannon (President)
  • Lynn Sanders (Vice President)

People named in this filing

  • Benjamin Bohannon (President)
  • Lynn Sanders (Vice President)
  • Evester Carter Jr (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 four-year scholarships to low-income students. The foundation also has a mentoring program that serves 40 students.

What it reported doing in 2024

In 2024 the foundation awarded eight new four-year scholarships to low-income students. In addition there were returning recipients who were eligible to receive financial assistance.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 73
  • Accountability: 64
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 96.2%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 65.4%; rating input score 65; 45th 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 2.49; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 18.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 23% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 28% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 96.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 7 filing controls reported
  • Programs: 6 filed program accomplishments · $212K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 42 of 44 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.