Henderson County Education Foundation Inc

Nonprofit profile at a glance

EIN
581734733
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Hendersonville, NC, USA
Phone
8286975551
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$1,464,273
Expenses
$1,021,891
Assets
$1,979,699
Liabilities
$16,842

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

Leadership & pay

17 people listed

Executive titles in this filing

  • MARK RUSSELL (PRESIDENT)

People named in this filing

  • MARK RUSSELL (PRESIDENT)
  • DAN POETA (VICE PRESIDE)
  • JESSICA MCALISTER (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

Enhance the quality of life in henderson county, North Carolina by enriching the education of students, teachers, and the local community.

What it reported doing in 2024

The foundation administered 40 scholarships for graduates of henderson county public high schools. Each scholarship has a specific purpose and tailored eligibility criteria. The scholarships are managed by the foundation's program committee and staff, with the involvement of high school counselors, teachers, and scholarship review committees, including members of the henderson county community.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 76
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.4%; rating input score 62
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $27.28 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

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; 76th 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: 6 of 7 controls in place; rating input score 86
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 30.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.94; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 62.4% of revenue deployed · 86.3% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $881K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: Whistleblower policy not reported.
  • High — Growth: Asset growth scored 0/100.