Friends of Catholic Education Inc

Nonprofit profile at a glance

EIN
521659600
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Frederick, MD, USA
Phone
3018467804
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$281,003
Expenses
$317,082
Assets
$4,494,841
Liabilities
$2,003,009

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

Leadership & pay

17 people listed

Executive titles in this filing

  • WILLIAM G MILANI (PRESIDENT)

Highest reported compensation

  • MICHELE P CORR - EX DIR - 123124 (DIRECTOR AS): $75,611 total reported compensation
  • TRACY HICKMAN - DIRECTOR - 12124 (EX DIR. AS 1): $3,462 total reported compensation
  • PAULA D'AMORE (EX DIR AS 12): $3,462 total reported compensation

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

Overview

Mission

Friends of catholic education, inc. Is an independent organization dedicated to providing catholic school education, in frederick county, for all who seek it.

What it reported doing in 2024

The organization raises and manages funds to support and enhance local area catholic schools and programs. The organization provides tuition assistance and tuition credits through block grants and scholarships for the schools and deserving students. In addition, assistance is provided through the purchase and sale of food certificates.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 47% for direct work, and 53% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 89
  • Accountability: 90
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: $5.48 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.7%; rating input score 98; 57th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 14.18; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 26%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 92.4% of revenue deployed · 78.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $250K in reported program spending
  • Leadership: top reported pay $76K · 17 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 4 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.

  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.