Lighthouse College

Nonprofit profile at a glance

EIN
262854413
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Dallas, TX, USA
Phone
2143683680
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$658,231
Expenses
$778,013
Assets
$522,536
Liabilities
$694,810

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ABIODUN BADA (President)

Highest reported compensation

  • ABIODUN BADA (President): $50,000 total reported compensation
  • MICHELLE TURNER (Director): $50,000 total reported compensation
  • RICHARD LEWIS (Financial Aid Director): $21,605 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The College is a not for profit

What it reported doing in 2013

Provided administrative skill training for 5 students under a title iv grant

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 100
  • Accountability: 72
  • Sustainability: 17
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 54.8%; rating input score 55
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -18.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 1.33; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -37.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 16% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 54.8% of spending went to programs
  • Governance: 3 of 4 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $426K in reported program spending
  • Leadership: top reported pay $50K · 3 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2010 to 2013
  • Contacts: How to reach this organization
  • Money network: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.