Elaine's Reading Is Fun Foundation

Nonprofit profile at a glance

EIN
455414350
IRS 990-PF coverage
2020–2024
Forms available
Form 990-PF 2024
Location
Hoover, AL, USA
Phone
2055422321
Rating
84
Verdict
STRONG
Rating confidence
Standard
Sector
Public Foundations

Reported finances

Revenue
$307,884
Expenses
$85,611

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

Overview

Mission

Public Foundations

What it reported funding in 2024

The foundation reported 2 grants totaling $84,500. The stated grant purposes included donations support the school's mission through funding projects, student scholarships, educational materials and operational expenses, etc. and to support a music scholarship in the name of elaine b. smith..

Operating model

Revenue model
Mixed. The foundation's positive operating resources came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The foundation distributed 100% of its reported charitable disbursements as grants.

The verdict

STRONG - The filed numbers largely add up and the filing identifies who received its grants. A relatively small share of available resources goes to charitable grants.

Rating breakdown

  • Grant Deployment: 47
  • Cost Efficiency: 99
  • Transparency: 100
  • Compliance: 100
  • Endowment Health: 96

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 47.1%; rating input score 47; 6th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 98.7%; rating input score 99; 95th percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Part VII-B activity disclosures: 19 of 19 controls in place; rating input score 100
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Pass
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: Pass
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Grants to individuals: Pass
    • Grants to organizations: Pass
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 9; rating input score 100

Endowment Health

  • Endowment-health comparison: 78.61; rating input score 96; 96th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: 47.1% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 96th percentile for endowment coverage
  • Consistency: 9 of 9 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Grant Deployment: Grant deployment ratio scored 47/100.