Independence Foundation Inc

Nonprofit profile at a glance

EIN
200391050
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Ravenna, OH, USA
Phone
3302962851
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$20,047
Expenses
$12,694
Assets
$3,727,666
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DONNA KOVOLYAN (IOPCI PRESIDENT)
  • DENISE SMITH (PATHS PRESIDENT)
  • MICHELLE MADDEN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • MICHELLE MADDEN (CHIEF EXECUTIVE OFFICER): $167,725 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist in meeting the unfunded needs of independence of portage county, inc, paths to independence inc, and the individuals they serve with intellectual disabilities.

What it reported doing in 2024

Provided client assistance, by providing clothing and other personal needs.

Operating model

Revenue model
Donor-supported. 100% 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

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 66
  • Accountability: 79
  • Sustainability: 76
  • Growth: 20

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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 36.7%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 293.66; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 320.6%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -48.3% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -32.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $168K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.