Katelyn Joy Derstine Scholarship Fd Inc

Nonprofit profile at a glance

EIN
208218320
IRS 990 coverage
2010–2015
Forms available
Form 990 2015, Form 990-N 2013
Location
Sarasota, FL, USA
Phone
9417806422
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,255
Expenses
$4,788
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Bambi Famous Kaine (President)

People named in this filing

  • Bambi Famous Kaine (President)
  • Jeffrey Kaine MD (Treasurer)
  • Rodney L Derstine (Secretary)

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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Purpose of the Katelyn Joy Derstine Scholarship Fund is to advance the pursuit of post-secondary education by female high school seniors by providing tuition assistance for said pursuit through the distribution of gifts and bequests to the Fund.

What it reported doing in 2015

The Scholarship Fund is committed to advancing the pursuit of post-secondary education by female high school seniors by providing tuition assistance for said pursuit through the distribution of gifts and bequests to the Fund.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 12
  • Transparency & Controls: 100
  • Accountability: 0
  • Sustainability: 13
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.3%; rating input score 18
  • Program expense ratio: 4.8%; rating input score 5
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -281.5%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: -167.8% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -8.8% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -32.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 18.3% of revenue deployed · 4.8% of spending went to programs
  • Governance: 0 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $230 in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2010 to 2015
  • 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 — Financial Efficiency: Mission deployment rate scored 18/100.
  • High — Financial Efficiency: Program expense ratio scored 5/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.