Georgia Education Foundation Inc

Nonprofit profile at a glance

EIN
454344273
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Atlanta, GA, USA
Phone
4045894929
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$73,033
Expenses
$264,741
Assets
$59,552
Liabilities
$215,660

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

Leadership & pay

7 people listed

Executive titles in this filing

  • STACEY KEY (PRESIDENT/CE)

Highest reported compensation

  • STACEY KEY (PRESIDENT/CE): $339,956 total reported compensation
  • VANESSA LANE (EXECUTIVE DI): $110,014 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 educational and training opportunities for small business enterprises and emerging entrepreneurial in order to develop capacity that will drive business growth and create jobs.

What it reported doing in 2024

The mentor protege program is a business development program administered by the Georgia education foundation, inc, the educational arm of Georgia minority supplier development council, inc (gmsdc). It provides opportunities for Georgia small businesses to benefit from a partnership with a corporate mentor for a period of one year. Emerging firms can build relationships, explore new technologies, learn about best practices and benefit from the wisdom of corporate executives who are committed to the long-term health and overall growth of small businesses in Georgia. The goal of the program is to help small businesses to be successful over the long haul, by helping them to develop capacity, enhance their skill sets and become more competitive. Research has shown that access to the right kind of coaching and mentoring significantly increases the success rate in small business, while both the mentor and the protege benefit tremendously from their interaction.

Operating model

Revenue model
Donor-supported. 77% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 65
  • Accountability: 79
  • Sustainability: 9
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 62.7%; rating input score 63
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -262.5%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 3.62; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 56.4%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 62.7% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $166K in reported program spending
  • Leadership: top reported pay $340K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.