John Pettibone Memorial Scholarship Fund Inc

Nonprofit profile at a glance

EIN
237069438
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
New Preston, CT, USA
Phone
2037882096
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$88,874
Expenses
$88,780
Assets
$446,483
Liabilities
$129

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • CHRISTINA GEARY GORBECKI (PRESIDENT)
  • TIM HERRING (CO-VICE PRESIDENT)
  • DANIEL DREW (CO-VICE PRESIDENT)

People named in this filing

  • MICHELE HARDIE (BOARD MEMBER)
  • STEPHEN PADUANO (BOARD MEMBER)
  • JENNIFER LACAVA (BOARD MEMBER)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The john pettibone memorial scholarship fund's mission is to uphold john pettibone's principle that all deserving high school students be given the opportunity of higher education by providing scholarships and loans to those who might not otherwise have the means to obtain an advanced degree. Scholarships help eligible new milford college and trade school-bound students achieve their educational goals.

What it reported doing in 2023

Educational scholarship awards

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 53
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: 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: 0.1%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 5.03; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2011 to 2023
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.