Heart of Iowa School Tuition Organization Inc

Nonprofit profile at a glance

EIN
205286383
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Urbandale, IA, USA
Phone
6412041893
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$1,718,514
Expenses
$1,594,184
Assets
$2,266,726
Liabilities
$0

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

Leadership & pay

15 people listed

Executive titles in this filing

  • TYLER TESKE (President)

People named in this filing

  • GLEN SWANSON (Treasurer)
  • RYAN HALL (Director)
  • MIKE WOHLENHAUS (Director)

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

Elementary & secondary education: the organization distributes from funds raised in the form of scholarships to low income families. Low income is defined as families with income less than four times the poverty level for their household. The state requires that 90% of the funds be distributed to these families, which is always complied with, but usually at least 99% of the donations have been distributed to students attending state accredited non-public schools.

What it reported doing in 2024

Elementary & secondary education: the state requires that 90% of the funds raised for scholarships be distributed to low income families attending state accredited non-public schools which has always been done by this sto. The organization distributed 99% of the funds raised for scholarships for low income families attending state accredited non-public schools for the school year covered by this form 990.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 89
  • Accountability: 82
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.9%; rating input score 92
  • Program expense ratio: 99%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.7%; rating input score 100; 50th 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 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.42; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 18.2% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 91.9% of revenue deployed · 99% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 14 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.