Errick Road Latch Key Inc

Nonprofit profile at a glance

EIN
161574884
IRS 990 coverage
2011–2017
Forms available
Form 990 2017
Location
North Tonawanda, NY, USA
Phone
7162153255
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Child Day Care

Reported finances

Revenue
$147,803
Expenses
$151,799
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • JAN VOELKER (PRESIDENT)

Highest reported compensation

  • JAN VOELKER (PRESIDENT): $32,675 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

289621latchkey - to create an educational environment for children in niagara county who parents work before and after school hours

What it reported doing in 2017

Latchkey - to create an educational environment for children in niagara county who parents work before and after school hours

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Accountability: 69
  • Sustainability: 18
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.9%; rating input score 68
  • Program expense ratio: 66.1%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 11th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • 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: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 21.5%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -11.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -7.2% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -20.3% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 67.9% of revenue deployed · 66.1% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $100K in reported program spending
  • Leadership: top reported pay $33K · 1 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2011 to 2017
  • 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: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.