Edwin J Gregson Foundation

Nonprofit profile at a glance

EIN
912052076
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Arcadia, CA, USA
Phone
6264472145
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$389,830
Expenses
$380,022
Assets
$3,147,497
Liabilities
$24,954

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JENINE SAHADI (President)

Highest reported compensation

  • ANGIE CARMONA (Secretary): $25,000 total reported compensation

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

Overview

Mission

To provide educational and charitable programs for the benefit of California thoroughbred racehorse industry stable-area workers and their family members.

What it reported doing in 2024

Recreation Programs - Consist of a variety of recreational activities available to stable workers located at the major California racetracks of Santa Anita Park, Golden Gate Fields, San Luis Rey Downs, Del Mar and Los Alamitos Racetrack. Trips are offered to water and amusement parks, to professional sporting events, such as baseball and soccer games. There are also various coordinated softball and soccer leagues, as well as weekly tournaments (i.e., pool, dominoes, poker, etc.) for all workers wishing to participate.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 89
  • Accountability: 69
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 86.6%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.5%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 8.28; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 86.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $329K in reported program spending
  • Leadership: top reported pay $25K · 11 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • 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 — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.