Local 372 Scholarship Fund
Nonprofit profile at a glance
- EIN
- 611407266
- IRS 990 coverage
- 2010–2010
- Forms available
- Form 990 2010
- Location
- New York, NY, USA
- Phone
- 2128151372
- Rating confidence
- Limited
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $40,522
- Expenses
- $33,532
- Assets
- $45,301
- Liabilities
- $70
Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.
Leadership & pay
3 people listed
Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The objective of the fund is to provide scholarships to deserving children and grandchildren of members of local 372, afscme.
What it reported doing in 2010
The fund provided 16 scholarship awards to deserving children and dependents of members of local 372, afscme, in order to assist them in meeting the cost of post-secondary education.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 73
- Accountability: 18
- Sustainability: 50
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 18th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 11th percentile among comparable filings
- Governance controls: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 17.2%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 1.35; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 42; 42nd percentile among comparable filings
- Officer compensation ratio: 216%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 3 board members independent · 4 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $32K in reported program spending
- Leadership: top reported pay $305K · 3 people listed · 1 of 6 pay-setting controls reported
- Consistency: 16 of 17 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes grants and executive pay
- Related organizations: 2 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Accountability: Independent voting board scored 0/100.
- Moderate — Accountability: Governance controls: 5 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 2/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.