Eastern Kentucky University Foundation Inc

Nonprofit profile at a glance

EIN
611131682
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Richmond, KY, USA
Phone
8596225012
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$24,691,446
Expenses
$9,454,125
Assets
$124,598,160
Liabilities
$26,878,273

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

Leadership & pay

24 people listed

Executive titles in this filing

  • DAVID MCFADDIN (TRUSTEE - PRESIDENT OF EKU)

Highest reported compensation

  • DAVID MCFADDIN (TRUSTEE - PRESIDENT OF EKU): $604,741 total reported compensation
  • MARY BETH NEISER (VP OF DEVELOPMENT): $224,775 total reported compensation
  • BARRY POYNTER (TREASURER (THRU 06/24)/TRUSTEE (FROM 09/24)): $148,803 total reported compensation

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

Overview

Mission

The eku foundation provides support for eastern Kentucky university in accomplishing its goals of education and regional stewardship within its southeastern Kentucky service region.

What it reported doing in 2024

Funding to support student financial aid and scholarships, thus enabling those students who are both capable and/or have financial need to receive a college education. These include merit scholarships awarded to students in the eastern Kentucky university honors program, as well as scholarships for students who have demonstrated financial need. Endowment income for invested funds held by the eastern Kentucky university foundation is the primary source of funding for this purpose.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 70
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.7%; rating input score 98
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 21st percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 61.7%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 13.18; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 97.7% of revenue deployed · 96.3% of spending went to programs
  • Governance: 16 of 18 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $9.1M in reported program spending
  • Leadership: top reported pay $605K · 24 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $145K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.