Furnace Town Foundation Inc

Nonprofit profile at a glance

EIN
521223314
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Snow Hill, MD, USA
Phone
4106322032
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$256,119
Expenses
$231,700
Assets
$303,208
Liabilities
$11,763

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

Leadership & pay

11 people listed

Executive titles in this filing

  • ALEX CLARK (PRESIDENT)

Highest reported compensation

  • CLAUDIA NAGLE (EXECUTIVE DI): $59,289 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 preserve, restore, interpret and develop the 25 acres of furnace town living heritage museum and the 19th century village of the nassawagno iron furnace.

What it reported doing in 2024

To preserve, restore, interpret and develop the 25 acres of furnace town living heritage museum and the 19th century village of nassawango iron furnace.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.9%; rating input score 60
  • Program expense ratio: 63.7%; rating input score 64
  • Fundraising efficiency: $6.73 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

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: 90%; rating input score 90; 24th 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: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 1.31; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 59.9% of revenue deployed · 63.7% of spending went to programs
  • Governance: 9 of 10 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $148K in reported program spending
  • Leadership: top reported pay $59K · 11 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2017 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.