Labette Community College Foundation and Alumni Association

Nonprofit profile at a glance

EIN
237368883
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Parsons, KS, USA
Phone
6204216700
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community or Junior Colleges

Official website

Reported finances

Revenue
$430,321
Expenses
$757,575
Assets
$3,411,395
Liabilities
$75,407

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

Leadership & pay

14 people listed

Executive titles in this filing

  • JR KEENE (PRESIDENT)

Highest reported compensation

  • LINDI FORBES (FOUNDATION D): $70,061 total reported compensation

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

Overview

Mission

Our purpose is to support programs of the college by raising private gifts from alumni, friends, and corporations. Gifts are used for: scholarships, faculty professional development, college departments, student activities, community outreach, and current operations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 69
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.2%; rating input score 68
  • Fundraising efficiency: $3.34 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -76%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.5; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -7.3% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $517K in reported program spending
  • Leadership: top reported pay $70K · 14 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 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 — Accountability: Governance controls: 6 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.