Hlv Area Scholarship Foundation

Nonprofit profile at a glance

EIN
833178639
IRS 990 coverage
2019–2025
Forms available
Form 990 2025
Location
Victor, IA, USA
Phone
3196473121
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$12,120
Expenses
$38,106
Assets
$783,983
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • TIM GLOTFELTY (President)
  • SUSAN WILGENBUSCH (Vice President)

People named in this filing

  • TIM GLOTFELTY (President)
  • SUSAN WILGENBUSCH (Vice President)
  • AUDREY WATERBECK (Treasurer)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide educational scholarships to local graduating high school students

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 24
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 10th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -214.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 20.57; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $38K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 7 filing years from 2019 to 2025
  • 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: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.