Lake County Regional Office of Education Foundation Inc

Nonprofit profile at a glance

EIN
473081541
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Vernon Hills, IL, USA
Phone
8475437833
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$2,139,278
Expenses
$1,147,249
Assets
$1,063,179
Liabilities
$375

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Amy Neault (President)
  • Michael Francisco (Vice President)
  • Joel Finfer (Executive Director)

People named in this filing

  • Amy Neault (President)
  • Michael Francisco (Vice President)
  • Brittany Tjardes (Treasurer)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Financially support the programs, not paid for by tax dollars, that enhance and enrich the educational opportunities of the students in Lake County Illinois.

What it reported doing in 2024

Financially support the programs of the Regional Office of Education, Lake County, Illinois, including but not limited to birth to five, student safety, mental awareness wellbeing, home bound students and professional development, impower transformative learning, scholarships and annual educator of the year awards.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.1%; rating input score 52
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 46.4%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 38.5% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 36.2% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 52.1% of revenue deployed · 96.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.