Foundation Property Inc

Nonprofit profile at a glance

EIN
251873198
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
State College, PA, USA
Phone
8142376229
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$13,405
Expenses
$20,773
Assets
$228,152
Liabilities
$202,815

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MOLLY KUNKEL (PRESIDENT/CEO)

Highest reported compensation

  • MOLLY KUNKEL (PRESIDENT/CEO): $179,293 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 purpose of the corporation is to receive gifts from the public, and use those gifts together with part or all of the income and/or appreciation to make grants to or in support of non-profit organizations who are exempt from tax under irc section 501(c)(3)

What it reported doing in 2024

Foundation property inc. Was formed to receive gifts from the public in support of centre foundation, inc. More specifically, the organization received a gift of real property which is provided to the foundation and used by it for its offices.

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

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: 46
  • Transparency & Controls: 65
  • Accountability: 90
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.5%; rating input score 56
  • Program expense ratio: 35.8%; rating input score 36
  • Fundraising efficiency: $3.01 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 83.3%; rating input score 83; 25th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -55%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 10.98; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 44.2%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 15.8% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: -4.1% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 55.5% of revenue deployed · 35.8% of spending went to programs
  • Governance: 5 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7K in reported program spending
  • Leadership: top reported pay $179K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.