Grassroots Foundation for Financial Literacy

Nonprofit profile at a glance

EIN
451143560
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2020
Location
Mt Pleasant, SC, USA
Phone
8438105247
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Financial Counseling

Reported finances

Revenue
$234,902
Expenses
$235,607
Assets
$0
Liabilities
$0

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

Leadership & pay

8 people listed

People named in this filing

  • ALEX COLE (BOARD MEMBER)
  • SCOTT FLANDERS (BOARD MEMBER)
  • SARAH JONES (BOARD MEMBER)

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

Hooked on miracles - kmt is dedicated to funding pediatric therapy, medical treatment, and healthcare.

What it reported doing in 2024

Fishing tournament-funds raised through the annual miracle tournament and paid out in cash prizes with 100% of the net proceeds being donated to the musc shawn jenkins children's hospital.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.1%; rating input score 99
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: $5,191.45 raised per $1 spent on fundraising; rating input score 100; 100th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: -0.3%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 33.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 31% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 22.3% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 99.1% of revenue deployed · 98.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $233K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 38/100.