Holy Michael Foundation

Nonprofit profile at a glance

EIN
203161207
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Raleigh, NC, USA
Phone
9197820731
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support
Affiliation
Christianity

Reported finances

Revenue
$141,285
Expenses
$26,879
Assets
$940,471
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • WILLIAM B RIDEOUT (PAST PRESIDENT)
  • WALTER E ROGERS JR (PRESIDENT)
  • PANSY MORTON (VICE PRESIDENT)

Highest reported compensation

  • REVEREND SAMUEL GREGORY JONES (EX-OFFICIO STANDING MEMBER): $154,444 total reported compensation
  • CHARLOTTE GRIFFIN (DEVELOPMENT OFFICER): $23,008 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation shall be operated exclusively for religious and charitable purposes, specifically as follows: to receive, hold, manage, invest or arrange for investing and to acquire by gift, devise, bequest, purchase or otherwise and use property of any kind and funds exclusively for the benefit of st. Michael's episcopal church of raleigh, North Carolina.

What it reported doing in 2017

.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Most voting board members are independent and revenue comfortably covers expenses. 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: 0
  • Transparency & Controls: 53
  • Accountability: 70
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 81%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 34.99; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 167.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 32.5% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 12 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $154K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.