Foundation for United Methodists Inc

Nonprofit profile at a glance

EIN
237015220
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
Wilmore, KY, USA
Phone
8592293683
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Christianity

Reported finances

Revenue
$179,885
Expenses
$1,090,918
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Mr Robert Pitman (President)

Highest reported compensation

  • Mr Dexter W Porter (Treasurer): $1,800 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Asbury Seminary United Methodist Scholarships: Distribution of scholarships/grants on the basis of academic achievements, conference and financial need (students)

What it reported doing in 2016

Total transfer of assets to Non-Profit with restrictions. Asbury Theological Seminary permanently restricted fund named "The Foundation for United Methodists Endowed Scholarship Fund".

Operating model

Revenue model
Investment-supported. 61% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 62
  • Accountability: 63
  • Sustainability: 5
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: $134.97 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 10.2%; rating input score 10; 34th 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 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -506.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.2%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 87% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 29.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: -10.2% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $2K · 15 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2009 to 2016
  • 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 — Transparency & Controls: Grant itemization coverage scored 10/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.