Driven Brands Charitable Foundation
Nonprofit profile at a glance
- EIN
- 461439039
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024, Form 990-N 2012
- Location
- Charlotte, NC, USA
- Phone
- 8888718117
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $1,318,257
- Expenses
- $1,424,451
- Assets
- $331,948
- Liabilities
- $132,467
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Jonathan Fitzpatrick (President)
People named in this filing
- Gary Ferrera (Treasurer (January - May 7, 2024))
- Jonathan Fitzpatrick (President)
- Karen Conrad (Treasurer (May 8, 2024 - current))
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 is organized for charitable purposes, including, but not limited to assisting in raising money and awareness for issues impacting educational access for children and the health and well being of veterans, other adults, and the communities in which they live, including without limitation, the making of distributions to organizations that qualify as exempt organziations under section 501(c)(3) and 170(c)(2) of the internal revenue code of 1986 (the "code") (of the corresponding provisions of any future united states internal revenue code). The foundation may lawfully be carried on by a corporation formed under the laws of North Carolina and which are not inconsistent with the foundation's qualification as an organization described in section 501(c)(3) of the code.
What it reported doing in 2024
Driven brands charitable foundation provided funds to organizations benefiting the community, children's healthcare and organizations providing support services to veterans, active military & their familes. Over 2 million was distributed to various community organizations. Over $110,000 was provided to various employees for hardship assistance.
Operating model
- Revenue model
- Donor-supported. 97% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 98% 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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 87
- Accountability: 76
- Sustainability: 24
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.8%; rating input score 94
- Program expense ratio: 86.8%; rating input score 87
- Fundraising efficiency: $7.17 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings
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: 85.1%; 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: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: -8.1%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 0.23; rating input score 11; 11th percentile among comparable filings
- Liabilities to assets ratio: 0.4; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 15% per year; rating input score 100; 75th percentile among comparable filings
- Revenue growth: 14.5% per year; rating input score 100; 78th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 93.8% of revenue deployed · 86.8% of spending went to programs
- Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $1.4M in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 20 of 22 current checks pass · 2 findings to review
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 10 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 32 filed money-flow records
- Related organizations: 33 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.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 27/100.
- High — Sustainability: Operating margin scored 19/100.
- High — Sustainability: Total-asset coverage ratio scored 11/100.
- 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 19/100.