Hoyt Foundation Inc

Nonprofit profile at a glance

EIN
222940515
IRS 990 coverage
2011–2023
Forms available
Form 990 2023, Form 990-EZ 2010
Location
Sturbridge, MA, USA
Phone
6175132723
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Official website

Reported finances

Revenue
$350,597
Expenses
$356,120
Assets
$988,651
Liabilities
$10,200

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • RUSSELL HOYT (PRESIDENT, C)

Highest reported compensation

  • ZOE HOYT (DIRECTOR): $5,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The hoyt foundation, inc. Is a non-profit organization that was formed in 1989. The hoyt foundation aspires to build the individual character, self- confidence and self-esteem of americas young people with disabilities through inclusion in all facets of daily life; including in family and community activities, especially sports, at home, in schools, and in the workplace. Each year, the hoyt family continues to grow dick, judy and rick hoyts legacy, by speaking before community and professional groups, and by direct participation in many road races, triathlons and other endurance events. The foundation also provides advice and support to groups and individuals who share this mission.

What it reported doing in 2023

To educate society about the inclusion of people with disabilities in family and community activities through direct participation in road races, triathlons and other endurance events. The foundation also provides advice and support to groups and individuals who share this mission.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 47
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.5%; rating input score 84
  • Program expense ratio: 92.4%; rating input score 92
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 17th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.6%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 2.78; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 84.5% of revenue deployed · 92.4% of spending went to programs
  • Governance: 3 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $329K in reported program spending
  • Leadership: top reported pay $5K · 6 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 4 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.