Florida Retired Educators Foundation
Nonprofit profile at a glance
- EIN
- 592439336
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- St Petersburg, FL, USA
- Phone
- 7275776400
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $145,509
- Expenses
- $55,375
- Assets
- $1,703,222
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
People named in this filing
- KARLA BROGDON (CHAIRMAN)
- GAYLE HODGES (TREASURER)
- DEBRA DYKES- KORNHAUS (SECRETARY)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The foundation was formed to provide scholarships for aspiring teachers and to offer modest short-term assistance to retired educators in crisis.
What it reported doing in 2024
Scholarship funds awarded to new and continuing students in colleges of education.
Operating model
- Revenue model
- Investment-supported. 86% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 25
- Transparency & Controls: 93
- Accountability: 64
- Sustainability: 91
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 18.8%; rating input score 19
- Program expense ratio: 43.4%; rating input score 43
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 61.9%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 30.76; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -4.5% per year; rating input score 0; 18th percentile among comparable filings
- Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: 4.9% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 18.8% of revenue deployed · 43.4% of spending went to programs
- Governance: 10 of 10 board members independent · 1 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $24K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 5 filed schedules · includes grants
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- 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 — Financial Efficiency: Mission deployment rate scored 19/100.
- Moderate — Financial Efficiency: Program expense ratio scored 43/100.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.