Eat Foundation Incorporated

Nonprofit profile at a glance

EIN
842986346
IRS 990-EZ coverage
2024–2024
Forms available
Form 990-EZ 2024, Form 990-N 2023
Location
Charlotte, NC, USA
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Adult, Child Matching Programs

Reported finances

Revenue
$91,390
Expenses
$90,065
Assets
$1,325

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Karlyn M Dixon (CEO)

People named in this filing

  • Karlyn M Dixon (CEO)
  • Karen D Dixon (Secretary)
  • Richard D Dixon (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

EAT Foundation is a sports and recreational program serving children young adults and senior citizens in Charlotte NC and surrounding areas. The focus of this program is to promote health wellness and sport participation in order to improve lives of the undeserved individuals physically and mentally.

What it reported doing in 2024

Our youth club basketball teams serve over 50 children between the ages of 9 and 16. Participants in the program receive specialized skills training sessions and team practice sessions. Practice and game uniforms and team apparel such as bookbags t-shirts and sweatsuits are also provided. In addition team members participate in two or more tournaments per month throughout the fall winter and summer sports seasons that require team registration fees for each event. Participation in our program is at reduced costs compared to other programs and one where many receive partial or full scholarships.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - 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 and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Sustainability: 26
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.6%; rating input score 99
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 1.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.5%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 98.6% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $90K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 6/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.