Ernest L Ransome Iii Scholarship Trust a New Jersey Nonprofit Corporation

Nonprofit profile at a glance

EIN
223618925
IRS 990 coverage
2014–2014
Forms available
Form 990 2014
Location
Charlotte, NC, USA
Phone
7043654801
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$40,579
Expenses
$55,149
Assets
$774,382
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • EDWARD D SLEVIN (TRUSTEE/PRESIDENT)

People named in this filing

  • SIR PETER A BURT (TRUSTEE)
  • PETER DAWSON (TRUSTEE)
  • ERIC J GLEACHER (TRUSTEE/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. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Funding for scholarships to individual students to attend the university of st. Andrews, scotland.

What it reported doing in 2014

Funding for scholarships to individual students to attend the university of st. Andrews, scotland. Scholarship recipients are not related to the trust, its trustees, officers, members of selection committee

Operating model

Revenue model
Investment-supported. 94% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 66
  • Accountability: 82
  • Sustainability: 51
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 62.7%; rating input score 63
  • Fundraising efficiency: $2.5 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 78.2%; rating input score 78; 50th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -35.9%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 14.04; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

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

Details

  • Where the money goes: 100% of revenue deployed · 62.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $35K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes foreign activity
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.