Glenaire Foundation Inc

Nonprofit profile at a glance

EIN
582003166
IRS 990 coverage
2009–2011
Forms available
Form 990 2011
Location
Colfax, NC, USA
Phone
3368866553
Rating confidence
Limited
Sector
Corporate Foundations

Reported finances

Revenue
$272,080
Expenses
$83,978
Assets
$2,978,015
Liabilities
$65,394

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

9 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To raise funds for the benefit of glenaire inc which operates as a public charity (501(c)(3)) in order to assist the retirement community in serving persons who financially otherwise might not be able to reside at the retirement community.

What it reported doing in 2011

Glenaire foundation, inc. Provides financial support through grants to glenaire inc., a division of the presbyterian homes, inc. (1 facility).

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 81
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 69.1%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 35.46; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 81.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 15.4% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 14.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $80K in reported program spending
  • Leadership: top reported pay $185K · 9 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2009 to 2011
  • Money network: 1 filed money-flow record
  • Related organizations: 6 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.