Laddie J Hendricks Charitable Trust

Nonprofit profile at a glance

EIN
742966624
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Kerrville, TX, USA
Phone
8308958028
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$121,893
Expenses
$78,249
Assets
$1,004,215
Liabilities
$58,348

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

Leadership & pay

1 person listed

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

Overview

Mission

To support the salvation army of kerrville, Texas by means of an annual distribution of the net income of the trust.

What it reported doing in 2024

To support the salvation army of kerrville, Texas by means of an annual distribution of the net income of the trust, such net income being derived from investment activities. There are no other income generating activities or program services.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 76% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 41
  • Sustainability: 73
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.1%; rating input score 98
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: 35.8%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 12.83; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 23.5%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.1% of spending went to programs
  • Governance: 1 of 2 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $77K in reported program spending
  • Leadership: top reported pay $18K · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Independent voting board scored 50/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.