Honkamp Family Foundation
Nonprofit profile at a glance
- EIN
- 391948390
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Milwaukee, WI, USA
- Phone
- 4142725805
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Camps
Reported finances
- Revenue
- $1,243,954
- Expenses
- $590,520
- Assets
- $5,951,373
- Liabilities
- $220,000
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Highest reported compensation
- KEN ROBERTSON (ASSISTANT SECRETARY (END 8/24)): $199,749 total reported compensation
- YELENA CHESTER (ASSISTANT TREASURER (START 8/24)): $170,324 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
See schedule othe honkamp family foundation was formed to operate as a supporting organization described in sections 501(c)(3) of the internal revenue code to receive contributions from michael honkamp, kevin honkamp, lynn byrne (all 3 are honkamp family members), and members of their families, and distribute them in support of greater milwaukee foundation. Greater milwaukee foundation is a public charity described in section 509(a)(1) of the internal revenue code.as set forth in the honkamp family foundation's declaration of trust, "honkamp family foundation is organized and shall be operated exclusively for charitable and educational purposes...for the exclusive benefit of, greater milwaukee foundation corporation...and to support its related programs and activities consistent with the goals implied in its mission statement." greater milwaukee foundation's mission is to promote the betterment of the greater milwaukee community and the enhancement of the quality of life for all its citizens. The honkamp family foundation will focus its grantmaking on organizations supporting job services, community enhancement, and children and youth.
Operating model
- Revenue model
- Donor-supported. 87% 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.
The verdict
SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 60
- Transparency & Controls: 71
- Accountability: 100
- Sustainability: 82
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 53.5%; rating input score 53
- Program expense ratio: 90.6%; rating input score 91
- 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: 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: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 52.5%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 10.08; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 10.7%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 28.1% per year; rating input score 100; 89th percentile among comparable filings
- Revenue growth: -6.7% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: 11.1% per year; rating input score 100; 62nd percentile among comparable filings
Details
- Where the money goes: 53.5% of revenue deployed · 90.6% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $535K in reported program spending
- Leadership: top reported pay $200K · 11 people listed · 0 of 6 pay-setting controls reported
- Consistency: 14 of 14 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 12 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 — Financial Efficiency: Mission deployment rate scored 53/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.