Foundation for the Center for Transforming Lives

Nonprofit profile at a glance

EIN
752920875
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8173326191
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Young Men's or Women's Associations

Reported finances

Revenue
$7,763,695
Expenses
$4,173,286
Assets
$47,994,067
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • KYLE BORRELLO (PRESIDENT)
  • MAXWELL LEA (PAST PRESIDENT, EX-OFFICIO)
  • CAROL KLOCEK (CEO)

Highest reported compensation

  • CAROL KLOCEK (CEO): $394,056 total reported compensation
  • JASON RICHARDSON (CFO): $237,527 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 foundation is organized to hold, manage, solicit, receive, administer and invest assets for the exclusive benefit and support of the center for transforming lives.

What it reported doing in 2024

Support of the center for transforming lives - in accordance with its mission to hold, manage and invest assets for the benefit and support of the center for transforming lives, the foundation for the center for transforming lives provided contributions to the center for transforming lives, which used that funding in its mission to transform the lives of women and children in poverty. Programs include housing services, early childhood education, economic mobility services, and clinical counseling.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.5%; rating input score 46
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 46.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 11.5; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 16.6% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 45.5% of revenue deployed · 76.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $394K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.