Golden Bear Foundation

Nonprofit profile at a glance

EIN
832598049
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Eveleth, MN, USA
Phone
2187445465
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$145,621
Expenses
$91,866
Assets
$127,526
Liabilities
$0

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

Leadership & pay

11 people listed

People named in this filing

  • PHILLIP DROBNICK (DIRECTOR)
  • KATHRYN TROUTWINE (DIRECTOR)
  • BEN DELICH (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The organization provides scholarships, and supports local academic and athletic programs

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 96% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.8%; rating input score 63
  • Program expense ratio: 99.5%; rating input score 100
  • Fundraising efficiency: $241.72 raised per $1 spent on fundraising; rating input score 92; 92nd 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: 100%; rating input score 100; 80th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 36.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 1.39; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -53.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -22.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 40% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 62.8% of revenue deployed · 99.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $91K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.