Folts Foundation Inc

Nonprofit profile at a glance

EIN
161315114
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Herkimer, NY, USA
Phone
3158666964
Rating confidence
Limited
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$95,678
Expenses
$374,997
Assets
$326,284
Liabilities
$9,118

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The folts foundation, as a member of the folts homes' family of health care service organizations, exists to solicit, receive, manage and distribute fiscal resources which will support the programs and services substantially within the folts homes' family.to accomplish this mission the foundation will: cultivate, maintain and solicit a list of donors, provide services and counseling to our donors with regard to wills, bequests and planned giving opportunities, recognize donors regularly, facilitate fund raising activities including capital funds campaigns for the folts homes' family, function as a public relations vehicle for the folts homes' family and maintain approriate linkage with local and national fund raising bodies.

What it reported doing in 2010

Managed funds including current year contributions in order to support programs and services within the folts homes' family. Specifically, the foundation was able to provide scholarships to two high school students pursuing higher education in the health care field. The foundation was also able to provide funding in the form of a loan to folts home to cover cash flow shortfalls in 2010.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 69
  • Sustainability: 17
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 70%; rating input score 70; 26th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -291.9%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 15.9%; rating input score 18; 18th percentile among comparable filings

Growth

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

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $101K in reported program spending
  • Leadership: top reported pay $167K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Related organizations: 5 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.