Kaps Foundation Co Tulsa Community Foundation

Nonprofit profile at a glance

EIN
463382912
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-T 2024
Location
Tulsa, OK, USA
Phone
9184948823
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$173,783
Expenses
$219,090
Assets
$4,065,292
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Highest reported compensation

  • PHIL LAKIN (TCF CL DIRECTOR): $725,134 total reported compensation
  • MIKE DODSON (TCF CL DIRECTOR): $265,577 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The kaps foundation was organized for the specific and primary purpose of benefiting, performing the functions of, or carrying out the purpose of that class of publicly supported organizations, including tulsa community foundation, that are described in sections 501(c)(3) and 509(a)(1) or (2) of the internal revenue code, and that engage in charitable activities which are consistent with the charitable purposes of tulsa community foundation. The kaps foundation's mission is to enhance the quality of life for the citizens of tulsa, and to support artistic, educational, charitable, religious and other non-profit organizations.

What it reported doing in 2024

The kaps foundation is a type 1 supporting organization for the tulsa community foundation (tcf) (a 501(c)(3) exempt organization). Its activities are to make distributions to tcf for further distribution by tcf to other charitable organizations.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 86
  • Accountability: 80
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -26.1%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 18.56; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 51.2%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 24.4% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: -24.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 9.6% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.1% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $204K in reported program spending
  • Leadership: top reported pay $725K · 7 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.