Forty First Foundation
Nonprofit profile at a glance
- EIN
- 301422743
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Austin, TX, USA
- Phone
- 9032450751
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $1,299,200
- Expenses
- $349,220
- Assets
- $2,811,344
- Liabilities
- $1,861,364
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- JACK ELTIFE (EXECUTIVE DIRECTOR)
Highest reported compensation
- JACK ELTIFE (EXECUTIVE DIRECTOR): $125,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The forty first foundation supports and advances the university of Texas at austin in its pursuit of excellence. We work closely with the office of the president to identify, fund, and implement strategic initiatives that enhance the university's academic programs, research capabilities, and overall impact.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- 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
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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 41
- Transparency & Controls: 74
- Accountability: 84
- Sustainability: 74
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 22.7%; rating input score 23
- Program expense ratio: 84.5%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- 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: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 73.1%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 8.05; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.66; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 35.8%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 22.7% of revenue deployed · 84.5% of spending went to programs
- Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $295K in reported program spending
- Leadership: top reported pay $125K · 8 people listed · 2 of 6 pay-setting controls reported
- Consistency: 20 of 20 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- 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 — Financial Efficiency: Mission deployment rate scored 23/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 5/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.