Gary Educational Development Foundation Inc

Nonprofit profile at a glance

EIN
310894179
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Gary, IN, USA
Phone
2198864902
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$790,283
Expenses
$211,719
Assets
$6,363,902
Liabilities
$0

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

Leadership & pay

18 people listed

Executive titles in this filing

  • Charuis Anderson (Executive Director)

Highest reported compensation

  • Kira Tyler (Officer Manager): $82,135 total reported compensation
  • Charuis Anderson (Executive Director): $16,000 total reported compensation

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

Overview

Mission

To provide scholarships for college and technical training for students of Gary, Indiana.

Operating model

Revenue model
Investment-supported. 89% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 85
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.7%; rating input score 30
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: Fail

Sustainability

  • Operating margin: 73.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 30.06; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 46.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 33.1% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 29.7% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $212K in reported program spending
  • Leadership: top reported pay $82K · 18 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 30/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.