Insurance Scholarship Foundation of America

Nonprofit profile at a glance

EIN
731429257
IRS 990-EZ coverage
2010–2014
Forms available
Form 990-EZ 2014
Location
Hendersonville, NC, USA
Phone
8288903328
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$58,941
Expenses
$41,674
Assets
$139,049
Liabilities
$100

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • KIRK A GOELDNER (DIRECTOR)
  • CURT NICHOLS (CHAIRMAN)
  • ELENA K IFKOVITS (DIRECTOR)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote excellence in the insurance industry by underwriting the education of current and future employees.

What it reported doing in 2014

The foundation offers two types of scholarships - one for a college student majoring in insurance/risk management, the other for individuals already working in the insurance industry. There were seven college scholarships awarded totaling 7,000 and four professional scholarships totaling 2,766 awarded during the year ending december 31, 2014.

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 69% for direct work, and 31% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 100
  • Sustainability: 75
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.4%; rating input score 75

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 29.3%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 3.34; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -19.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 19% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -12.8% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.