Johnstone Vance Memorial Fund

Nonprofit profile at a glance

EIN
066024287
IRS 990 coverage
2011–2013
Forms available
Form 990 2013
Location
Concord, NH, USA
Phone
8602256018
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Independent Foundations

Reported finances

Revenue
$56,752
Expenses
$71,608
Assets
$1,010,214
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The johnstone vance memorial fund trust exists as a supporting organization for the community foundation of greater new britain. The community foundation's mission is connecting donors who care with causes that matter by making grants to charitable organizations for tax exempt purposes.

What it reported doing in 2013

Net income is distributed to the community foundation of greater new britain for general charitable purposes.

Operating model

Revenue model
Investment-supported. 98% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

SUPPORTED - 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: 86
  • Transparency & Controls: 93
  • Accountability: 18
  • Sustainability: 48
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.6%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -26.2%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 14.11; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 16.3% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.6% of spending went to programs
  • Governance: 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $66K in reported program spending
  • Leadership: top reported pay $8K · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 3 filing years from 2011 to 2013
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.