H Herbert Rich Memorial Fund

Nonprofit profile at a glance

EIN
383348195
IRS 990-EZ coverage
2011–2013
Forms available
Form 990-EZ 2013
Location
Okemos, MI, USA
Rating
42
Verdict
MIXED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$7,297
Expenses
$13,308
Assets
$161,430
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • CARYN EDWARDS (PRESIDENT)

People named in this filing

  • TONYA FOUNTAIN (SECRETARY)
  • NONA BROWN (FOUNDATION BOARD MEMBER)
  • PAULA AUDAS (FOUNDATION 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-EZ. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide scholarships to needy students

What it reported doing in 2013

The rich memorial endowment funds exist to provide financial assistance to the erickson learning foundation which provide scholarships to financially needy students

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 3
  • Transparency & Controls: 82
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.2%; rating input score 4
  • Program expense ratio: 2.3%; rating input score 2

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -82.4%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 12.13; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 100% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 4.2% of revenue deployed · 2.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $308 in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2011 to 2013
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Financial Efficiency: Program expense ratio scored 2/100.
  • Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.