Foundations for Scholarships

Nonprofit profile at a glance

EIN
921112000
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Las Vegas, NV, USA
Phone
7027940117
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$189,474
Expenses
$65,147
Assets
$233,746
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Michelle Merrick (President)
  • Kali Stoner (Vice President)

Highest reported compensation

  • Holly Nostro (Director): $111,096 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 for which the corporation was formed are exclusively to receive and administer funds for education and charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986.

What it reported doing in 2024

Foundations for Scholarships' primary achievement during the year was that it was able to raise funds for scholarships for those individuals going to college for a career in the construction industry.

Operating model

Revenue model
Donor-supported. 75% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 89
  • Accountability: 64
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34%; rating input score 34
  • Program expense ratio: 97.5%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 65.6%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 3.59; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 53.2% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 72.5% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 34% of revenue deployed · 97.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $64K in reported program spending
  • Leadership: top reported pay $111K · 7 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.