Indiana First Ladys Charitable Foundation Inc

Nonprofit profile at a glance

EIN
463443263
IRS 990 coverage
2013–2016
Forms available
Form 990 2016
Location
Indianapolis, IN, USA
Phone
3172325626
Rating confidence
Limited
Sector
Community Foundations

Official website

Reported finances

Revenue
$0
Expenses
$165,356
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • KAREN PENCE (PRESIDENT)

People named in this filing

  • KAREN PENCE (PRESIDENT)
  • NANCY BUSH (SECRETARY)
  • BEVERLY BUSH (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation's purpose is to encourage and support youth and families of Indiana. The beneficiaries include individuals, schools, communities, families and family support organizations, along with arts organizations. The foundation was created to foster an even better understanding and love for the state of Indiana; while encouraging and supporting hoosiers wanting to be better citizens. The foundation's board plans to shine a spotlight on these types of organizations through scholarships awards and grants.

What it reported doing in 2016

To identify, recognize, and provide nominal grants to nonprofit organizations whose mission is to (a) promote and demonstrate good citizenship (b) foster an understanding and love of Indiana history, (c) promote arts for youth, (d) encourage youth activity, or (e) support families with children.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 81
  • Accountability: 70
  • Sustainability: 8
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 72.5%; rating input score 72; 46th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: -35.4% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -24.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 84.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $139K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 4 filing years from 2013 to 2016
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.