Gordon a Rich Memorial Foundation

Nonprofit profile at a glance

EIN
030385929
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6468578525
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$426,289
Expenses
$387,129
Assets
$4,908,666
Liabilities
$0

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

Leadership & pay

22 people listed

Executive titles in this filing

  • MARYANN RICH (PRESIDENT)

People named in this filing

  • KRISTIN ALLEN (DIRECTOR)
  • EDDIE BAURER (TREASURER)
  • DOUGLAS BRAUNSTEIN (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

To grant scholarships for undergraduate study to eligible students in the memory of mr. Rich.

What it reported doing in 2024

The Foundation AWARDs SCHOLARSHIPS IN MEMORY OF MR. RICH TO DESERVING STUDENTS. The Foundation's mission is to award grants to support the higher education goals of its recipients. The recipients of the Foundation scholarships are exceptionally qualified high school students with demonstrated financial need whose parents or guardians have, or had, a career in the financial services industry. The Foundation paid 7 scholarships in 2024.

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 100% of its reported program spending out as grants.

The verdict

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: $6.89 raised per $1 spent on fundraising; rating input score 29; 29th 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: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.2%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 12.68; rating input score 92; 92nd 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: 0.8% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 78.2% of spending went to programs
  • Governance: 22 of 22 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $303K in reported program spending
  • Leadership: top reported pay $0 · 22 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: 3 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.