Friends of Prescott Inc

Nonprofit profile at a glance

EIN
474742091
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-T 2024
Location
Groton, MA, USA
Phone
9784485381
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$365,430
Expenses
$362,707
Assets
$37,394
Liabilities
$3,167

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

Leadership & pay

6 people listed

Executive titles in this filing

  • ARTHUR S LANE JR (President)
  • JEFFREY ALLEN GORDON (Vice President)

People named in this filing

  • ARTHUR S LANE JR (President)
  • JEFFREY ALLEN GORDON (Vice President)
  • JULIE L SUTHERLAND -PLATT (Clerk)

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

Friends of Prescott, Inc. provides support and promotes community programs and activities for children, teens and adults in the areas of education, health, the arts, and physical education.

What it reported doing in 2024

Leasing a portion of groton's historic prescott school building to provide space foradult, child and teen education classes. Friends of prescott, inc. Responded to arequest for proposal (rfp) issued by the town of groton, ma for leasing a portion ofthe prescott to provide adult, child and teen recreational and educational opportunities to the community. Friends of prescott was awarded a three-year leasefor the use of the bottom and middle floors of the building. Friends of prescott(fop) pays all building electrical, heating, water, sewer internet and phone services. Fop also provides general commercial liability insurance to cover the building and its occupants. 5% revenue to groton

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.2%; rating input score 42
  • Program expense ratio: 42.5%; rating input score 43
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.7%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.9% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: -28.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 42.2% of revenue deployed · 42.5% of spending went to programs
  • Governance: 0 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $154K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 42/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.