Foundation for Educational Funding Ii

Nonprofit profile at a glance

EIN
311777710
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lincoln, NE, USA
Phone
4024796617
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$9,573,827
Expenses
$12,149,514
Assets
$203,726,634
Liabilities
$2,103,856

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ELIZABETH S KOOP (PRESIDENT/CEO/DIRECTOR)
  • DAPHNE HALL (SENIOR VICE PRESIDENT)
  • ERIC DRUMHELLER (VICE PRESIDENT)
  • MICHAEL J TIMMINS (CFO/SENIOR VICE PRESIDENT)

Highest reported compensation

  • ELIZABETH S KOOP (PRESIDENT/CEO/DIRECTOR): $453,234 total reported compensation
  • MICHAEL J TIMMINS (CFO/SENIOR VICE PRESIDENT): $228,403 total reported compensation
  • DAPHNE HALL (SENIOR VICE PRESIDENT): $204,764 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Improve access to higher education in Nebraska

What it reported doing in 2024

Free college planning services including college research, exploration of career options, scholarship search, fafsa completion and filing, and financial aid options. (available to all students and families in Nebraska regardless of college destination.) three offices in Nebraska open to the public: kearney, lincoln, and omaha.

Operating model

Revenue model
Investment-supported. 81% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 60% for direct work, 12% for grants, and 29% for affiliated organizations.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 85
  • Accountability: 93
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.7%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 81.6%; rating input score 82; 22nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -26.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 16.77; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 11.1%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.7% of spending went to programs
  • Governance: 7 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.4M in reported program spending
  • Leadership: top reported pay $453K · 13 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $189K reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 34 filed money-flow records
  • Related organizations: 22 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.

  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.