Itma Educational Foundation
Nonprofit profile at a glance
- EIN
- 562004758
- IRS 990-EZ coverage
- 2014–2024
- Forms available
- Form 990-EZ 2024
- Location
- High Point, NC, USA
- Phone
- 3368856842
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $68,072
- Expenses
- $111,345
- Assets
- $354,905
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- DAVID LAPPERT (PRESIDENT)
People named in this filing
- ANDERSON GIBBONS (BOARD MEMBER)
- TAMMY COVINGTON (BOARD MEMBER)
- MENDY KEARNS (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide scholarships to students enrolled in home furnishings and textile design programs, which will encourage students to enter these fields of study.
Operating model
- Revenue model
- Donor-supported. 67% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 84% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 82
- Sustainability: 28
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 95%; rating input score 95
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -63.6%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 3.19; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 69.2%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: 9.7% per year; rating input score 100; 71st percentile among comparable filings
- Revenue growth: 2.2% per year; rating input score 100; 61st percentile among comparable filings
- Asset growth: 0.7% per year; rating input score 100; 42nd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 95% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $106K in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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 — Sustainability: Operating margin scored 11/100.
- High — Sustainability: Officer compensation ratio scored 1/100.