Fayco Enterprises Inc

Nonprofit profile at a glance

EIN
510141475
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Vandalia, IL, USA
Phone
6182830638
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Sheltered Employment

Official website

Reported finances

Revenue
$7,770,704
Expenses
$7,478,968
Assets
$6,134,572
Liabilities
$1,154,448

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

Leadership & pay

14 people listed

Executive titles in this filing

  • PAM YATES (PRESIDENT)
  • ROBERT KULHAN (VICE-PRESIDENT)

Highest reported compensation

  • KIM TAYLOR (EXECUTIVE DIR.): $106,398 total reported compensation
  • SHERRY HICKS (DIR OF FINANCE): $86,223 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 integrate people with disabilities and other life issues into the community and enrich their quality of life with choice and independence.

What it reported doing in 2024

Community day services-this program is open to developmentally disabled adults, based upon availability of funding and program capacity. Services are designed for an array of ability and skill level ranging from; 1) individuals with the most significant disability who may enjoy a program with an emphasis on in-house and community activities that include socialization, health and wellness, safety, and independent living skills to 2)individuals desiring a more advanced opportunity to learn and explore their community through volunteerism and an exposure to competitive and sheltered employment. This program operated for 240 days during the year. Under this program, approximately 150241 hours of service were provided to the 146 participants.

Operating model

Revenue model
Earned-program. 91% 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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.8%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 85.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $6.4M in reported program spending
  • Leadership: top reported pay $106K · 14 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2009 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.