Fullmer Legacy Foundation

Nonprofit profile at a glance

EIN
824314086
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-PF 2020
Location
Logan, UT, USA
Phone
4357703975
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$2,081,531
Expenses
$161,656
Assets
$7,222,986
Liabilities
$1,678

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DAVID BUTTERFIELD (PRESIDENT CHAIR)
  • LARRY FULLMER (Vice President)
  • ROBERT BEHUNN (Vice President)

Highest reported compensation

  • MICHELLE BOGDAN-HOLT (Executive Dir.): $78,000 total reported compensation

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

Overview

Mission

Help underprivileged and at-risk youth learn the skills of discipline, sportsmanship, and resilience through boxing.

What it reported doing in 2024

The Utah legislature budgeted $2,000,000 to be used to build an operating facility that will have a boxing gym. The building will be built on government land which is being leased to the foundation for 50 years below fmv. Actual paid lease expense each year is $1. The remaining fmv of the lease for 50 years is recognized as in-kind rent donated for use of the property. During the last quarter of 2022 the foundation entered an agreement with an engineering firm to get the building process moving forward. In 2023 there was more focus on applying for grants and find other funding. The foundation received in cash $1,000,000 of the budgeted funds from the state of Utah.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 and program spending has grown recently. 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: 29
  • Transparency & Controls: 92
  • Accountability: 52
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.7%; rating input score 7
  • Program expense ratio: 44.2%; rating input score 44
  • Fundraising efficiency: $513.46 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 21st percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 92.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 44.68; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 48.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 52.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 41.4% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 6.7% of revenue deployed · 44.2% of spending went to programs
  • Governance: 9 of 10 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $71K in reported program spending
  • Leadership: top reported pay $78K · 10 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • 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 — Financial Efficiency: Mission deployment rate scored 7/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.