Educapital Foundation

Nonprofit profile at a glance

EIN
880914133
IRS 990-EZ coverage
2022–2022
Forms available
Form 990-EZ 2022
Location
Carteret, NJ, USA
Phone
3017503551
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$107,494
Expenses
$85,475
Assets
$22,019
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • AISHA RODRIGUEZ (EXECUTIVE DIRECTOR)

People named in this filing

  • AISHA RODRIGUEZ (EXECUTIVE DIRECTOR)
  • DR BRENITA MITCHELL (CO-CHAIR)
  • DR RICK MURPHEE (CO-CHAIR)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To eliminate poverty through education. Educapital foundation provides performance based scholarships to ensure low-income students are equipped for success.

What it reported doing in 2022

Performance based scholarships are designed to help students overcome some of the financial obstacles they face in the post-secondary education system. These scholarships aim to help reduce the financial burdens on low-income students while providing incentives for good academic progress. Students are generally paid at multiple points during the semester conditional upon meeting certain performance benchmarks set by the college or educational institution. Scholarships are paid directly to students by the college, educational institution, or scholarship sponsor. Students have discretion over how they use the funds, although most report using them to help with a range of essential expenses such as books, child care, or other financial obligations that might disrupt their studies.

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

SUPPORTED - 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 the available information about grant readiness automatic revocation leaves an important question unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 82
  • Sustainability: 57
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.8%; rating input score 79
  • Program expense ratio: 99.1%; rating input score 99

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 20.5%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 64; 64th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 78.8% of revenue deployed · 99.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $85K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.