Ilpa Scholarships Forever Inc

Nonprofit profile at a glance

EIN
421485153
IRS 990 coverage
2022–2022
Forms available
Form 990 2022, Form 990-EZ 2020, Form 990-N 2019
Location
Urbandale, IA, USA
Phone
5152628668
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$50,432
Expenses
$24,236
Assets
$539,060
Liabilities
$24,000

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • TODD CLOCK (PRESIDENT)
  • GARY RANKIN (PRESIDENT EL)

Highest reported compensation

  • RANDY OLSON (EXECUTIVE DI): $124,771 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing scholarships to dependents of employees of the members of the Iowa limestone producers association, inc.

What it reported doing in 2022

Provide scholarships to dependents of employees of the members of the Iowa limestone producers association, inc. 10 scholarships were awarded.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.3%; rating input score 51
  • Program expense ratio: 99%; rating input score 99
  • 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; 80th 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 51.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 22.24; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 8.9% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 51.3% of revenue deployed · 99% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $24K in reported program spending
  • Leadership: top reported pay $125K · 16 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.