Golconda Foundation Inc

Nonprofit profile at a glance

EIN
731552729
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Jones, OK, USA
Phone
4056402332
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$63,611
Expenses
$85,103
Assets
$42,472
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • DAVID C BOLDING (PRESIDENT)

Highest reported compensation

  • DAVID C BOLDING (PRESIDENT): $9,750 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 scholarships and to help fund other worthy causes as deemed appropriate.

What it reported doing in 2024

Pass it along inc. An organization dedicated to helping reforming drug addicts and men coming out of prison to move forward by providing temporary housing and adequate living conditions until they can find jobs and move back into society.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 82
  • Accountability: 69
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.9%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 70.8%; rating input score 71; 49th percentile among comparable filings
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -33.8%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 45th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.9% of spending went to programs
  • Governance: 2 of 2 board members independent · 2 of 8 filing controls reported
  • Programs: 10 filed program accomplishments · $65K in reported program spending
  • Leadership: top reported pay $10K · 2 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 4 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 15/100.