Keene Endowment Association

Nonprofit profile at a glance

EIN
026009681
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Keene, NH, USA
Phone
6033582372
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Reported finances

Revenue
$4,249,631
Expenses
$1,031,992
Assets
$26,406,886
Liabilities
$0

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Melinda Treadwell (KSC President)
  • Daniel Kurowski (President)
  • Bobby Rodrigue (Vice President)
  • Raymond Jobin (2nd Vice President)

Highest reported compensation

  • Melinda Treadwell (KSC President): $451,080 total reported compensation
  • MaryBeth Lufkin (KSC VP Student Enroll & Engagement): $283,610 total reported compensation
  • Nathalie Houder (KSC VP Finance & Admin): $263,153 total reported compensation

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

Overview

Mission

Keene Endowment Association (KEA) helps donors to provide scholarships for Keene State College (KSC) students and resources to enhance their education. The KEA Board also helps to give donors the assurance that their philanthropy will make a difference for KSC students in perpetuity.

What it reported doing in 2024

The KEA provides scholarships, program and faculty support, and books to Keene State College and supports the KSC Advancement Department in the areas of fundraising activities and administrative support.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 71
  • Accountability: 66
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.1%; rating input score 38
  • Program expense ratio: 84.6%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 72.7%; rating input score 73; 12th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 75.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 25.59; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 17.8%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 14.5% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 14.8% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 17.5% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 38.1% of revenue deployed · 84.6% of spending went to programs
  • Governance: 16 of 22 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $873K in reported program spending
  • Leadership: top reported pay $451K · 24 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $159K reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.