Granite Education Foundation

Nonprofit profile at a glance

EIN
942951639
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Salt Lake City, UT, USA
Phone
8012636236
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$6,419,316
Expenses
$6,322,001
Assets
$4,271,128
Liabilities
$397,226

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Jadee Talbot (CEO)

Highest reported compensation

  • Jadee Talbot (CEO): $215,806 total reported compensation

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

Overview

Mission

The Granite Education Foundation's mission is to reduce barriers to learning and increase access to opportunities for students and educators in the Granite School District.

What it reported doing in 2024

Since Granite Education Foundation's inception in 1988, educator recognition and support has been a key priority. The Excel Awards are a prestigious honor given to the top ten educators of Granite School District and has been sponsored by Granite Education Foundation since the beginning. Students, administrators, parents, and colleagues nominate educators that exemplify the values of Granite School District. These individuals are then put through a rigorous review and observation process by experienced education specialist who ultimately identify ten teachers and administrators from all over the district. In mid April, up to 300 individuals from Granite School District, supporting businesses, community members, and local leaders gather to recognize and honor ten winners in the Night of Honors a dinner and award ceremony.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 79% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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: 91
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 93.5%; rating input score 94
  • Fundraising efficiency: $40.13 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

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: 100%; rating input score 100; 72nd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.5%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 93.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $5.9M in reported program spending
  • Leadership: top reported pay $216K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.