Frontier Finance Inc

Nonprofit profile at a glance

EIN
934532919
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128662675
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$900,400
Expenses
$882,788
Assets
$17,612
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • DREW VON GLAHN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DREW VON GLAHN (EXECUTIVE DIRECTOR): $208,900 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 achieve a sustainable and growing small business finance ecosystem in africa and beyond by addressing the missing middle financing solutions that target small and growing business in frontier markets.

What it reported doing in 2024

Implement a 12-month capacity strengthening program for 6 diverse emerging fund managers. The intention was to leverage a proven model for strengthening fund managers' fundraising, operational, and investment capabilities to enable these fund managers to scale, achieve commercial sustainability, and ultimately mobilize additional private capital for development across southern africa, through peer-to-peer learning and networking; accelerated learning modules on topics such as deal structuring, value creation, and financial modeling; mentorship; investor linkages through convening events, and allocation of operational funding.

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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 60
  • Accountability: 10
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 84.6% of revenue deployed · 86.3% of spending went to programs
  • Governance: 0 of 1 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $761K in reported program spending
  • Leadership: top reported pay $209K · 1 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.