Florida Fund for Minority Teachers Inc

Nonprofit profile at a glance

EIN
593391795
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Gainesville, FL, USA
Phone
3522734364
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$900,686
Expenses
$1,231,364
Assets
$611,313
Liabilities
$756,206

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • Cheryl Williams (Interim Executive Director)

Highest reported compensation

  • Cheryl Williams (Interim Executive Director): $89,470 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing scholarships to eligbile college students in the field of education in the state of Florida

What it reported doing in 2023

The organization purpose is to recruit and retain minorities in the educational & teaching academia for future minority teachers in the State of Florida. The organization provides financial support in the form of semester scholarships to elgible students within the State of Florida universities and higher education schools.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 81% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 10
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: $473.22 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 12th 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -36.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 1.24; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -16.2% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $89K · 13 people listed
  • Consistency: 25 of 27 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2009 to 2023
  • 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.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.