Lettie Pate Whitehead Foundation Inc

Nonprofit profile at a glance

EIN
586012629
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Atlanta, GA, USA
Phone
4045226755
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Named Trusts N.E.C.

Reported finances

Revenue
$233,465,422
Expenses
$65,078,957
Assets
$990,905,323
Liabilities
$644

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

Leadership & pay

7 people listed

Executive titles in this filing

  • P RUSSELL HARDIN (PRESIDENT)
  • ERIK S JOHNSON (SECRETARY/VICE PRESIDENT)

Highest reported compensation

  • P RUSSELL HARDIN (PRESIDENT): $166,165 total reported compensation
  • ERIK S JOHNSON (SECRETARY/VICE PRESIDENT): $75,307 total reported compensation
  • ELI P NIEPOKY (TREASURER): $67,163 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 support the education and care of women in 9 southeastern states. The organization makes grants to schools and colleges for need-based scholarship support. The organization also provides need-based aid for women residing in designated senior care facilities.

What it reported doing in 2024

Grants for Education. Grants were paid to 179 higher education institutions and 13 primary/secondary institutions in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Those schools use grant funds to award need-based scholarships for deserving female students from those nine states according to the terms of the will that established the Foundation. Approximately 12,722 female students received Foundation scholarship awards at the 192 institutions.

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 99% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.9%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 72.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 15.23; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 8.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $63.7M in reported program spending
  • Leadership: top reported pay $166K · 7 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $802K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 215 filed money-flow records
  • Related organizations: 415 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.