Leroy Community Foundation

Nonprofit profile at a glance

EIN
311634422
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011, Form 990-T 2024
Location
Leroy, MN, USA
Phone
5079514885
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$140,493
Expenses
$210,391
Assets
$228,542
Liabilities
$1,299

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

Leadership & pay

17 people listed

Highest reported compensation

  • KERRI ROWE (GAMBLING MANAGER): $12,750 total reported compensation

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

Overview

Mission

To strengthen the community of leroy through funds used exclusively for the civic betterment, health, literary, recreational, musical, historical and cultural purposes.

What it reported doing in 2024

Administered funds to community of leroy used for the civic betterment, health, literary, recreational, musical, historical and cultural purposes.

Operating model

Revenue model
Donor-supported. 84% 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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 79
  • Accountability: 65
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 59.7%; rating input score 60; 44th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.1%; rating input score 94; 26th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -49.8%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.09; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 6.1%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 16.7% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 16 of 17 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $210K in reported program spending
  • Leadership: top reported pay $13K · 17 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.