Foundation Properties Inc

Nonprofit profile at a glance

EIN
581940977
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Columbus, GA, USA
Phone
7065653640
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$4,075,127
Expenses
$2,408,847
Assets
$38,199,194
Liabilities
$15,061,036

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Stuart Rayfield (CSU President)

People named in this filing

  • Pace Halter (Treasurer)
  • Stuart Rayfield (CSU President)
  • Mat Swift (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The principle purpose of Foundation Properties, Inc. shall be to promote the cause of higher education at Columbus State University, a unit of the University System of Georgia located in Columbus, GA, specifically through the management of real property affiliated with the University, holding real property for future development by the University and holding investment property for the benefit of the University.

What it reported doing in 2024

Miscellaneous income primarily consisting of parking fees and application fees for student housing.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 83
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.7%; rating input score 60
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 40.9%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 15.86; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -3.1% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -5.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 59.7% of revenue deployed · 87.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.