Greensboro Medical Society Foundation Inc

Nonprofit profile at a glance

EIN
912047364
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Greensboro, NC, USA
Phone
3363391227
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$63,586
Expenses
$94,949
Assets
$174,619
Liabilities
$0

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

Leadership & pay

7 people listed

People named in this filing

  • STEPHEN COCKBURN (CHAIRMAN)
  • CHRISTOPHER DURHAM (BOARD MEMBER)
  • NANNETTE FUNDERBURK (SECRETARY)

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 purpose of the organization will be to grant scholarships to disadvantaged youth and to help to culturally cultivate disadvantaged youth.

What it reported doing in 2024

Provided 9 scholarships to individuals who are pursing careers in the health care field.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 60% for direct work, and 40% for 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.2%; rating input score 90
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -49.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.84; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -2.8% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 90.2% of revenue deployed · 95.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $91K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.