Foundations in Education Inc

Nonprofit profile at a glance

EIN
475130557
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Shelton, CT, USA
Phone
2034161642
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution
Affiliation
Christianity

Official website

Reported finances

Revenue
$17,351,326
Expenses
$6,605,146
Assets
$59,771,846
Liabilities
$4,074,933

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

Leadership & pay

27 people listed

Executive titles in this filing

  • Holly Doherty-Lemoine (Executive Director)

Highest reported compensation

  • Michael Hanlon (Treasurer - Term. 12/1/24): $268,850 total reported compensation
  • Anne O McCrory (TRUSTEE): $257,869 total reported compensation
  • Holly Doherty-Lemoine (Executive Director): $202,959 total reported compensation

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

Overview

Mission

To strengthen and transform the mission of catholic education in the diocese of bridgeport by providing tuition assistance to families in need, supporting innovation in academic programs, and fostering opportunities for the professional development of school leaders.

What it reported doing in 2024

Awarded nearly 1,200 students tuition assistance and 21 teachers innovation and leadership grants. Supported transformative projects at a high school and some elementary schools across the diocese of bridgeport.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. 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: 64
  • Transparency & Controls: 65
  • Accountability: 89
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.1%; rating input score 45
  • Program expense ratio: 92%; rating input score 92
  • Fundraising efficiency: $61.14 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th 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: 78.5%; rating input score 78; 16th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 21st percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 61.9%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 9.05; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 10.4% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 22.1% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 45.1% of revenue deployed · 92% of spending went to programs
  • Governance: 24 of 27 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.1M in reported program spending
  • Leadership: top reported pay $269K · 27 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 23 filed money-flow records
  • Related organizations: 23 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 45/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.