Halo Initiative for Catholic Education Inc

Nonprofit profile at a glance

EIN
851229719
IRS 990 coverage
2022–2023
Forms available
Form 990 2023
Location
Richardson, TX, USA
Phone
9726699346
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Christianity

Official website

Reported finances

Revenue
$473,762
Expenses
$482,782
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JANE KOENECKE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JANE KOENECKE (EXECUTIVE DIRECTOR): $154,705 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To work alongside our catholic schools office and the dallas community to strengthen, grow the impact of, and provide broad-based access to our k-8 catholic schools.

What it reported doing in 2023

The halo initiative is helping families have access to a quality education and to test solutions that can create system sustainability. In addition, halo provides a service for funders who support catholic school students with tuition assistance across the catholic school system.

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 46% for direct work, and 54% for grants.

The verdict

SUPPORTED - 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: 67
  • Transparency & Controls: 67
  • Accountability: 79
  • Sustainability: 18
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.4%; rating input score 69
  • Program expense ratio: 68.1%; rating input score 68
  • Fundraising efficiency: $18.91 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 8th 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; 81st 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 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -1.9%; rating input score 36; 36th 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: 32%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -57.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -33.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 69.4% of revenue deployed · 68.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $329K in reported program spending
  • Leadership: top reported pay $155K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 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: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.