Local 417 Scholarship Fund

Nonprofit profile at a glance

EIN
030586692
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Wallkill, NY, USA
Phone
8455668417
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$22,978
Expenses
$44,980
Assets
$213,867
Liabilities
$93,700

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

Leadership & pay

4 people listed

Highest reported compensation

  • MATTHEW STODDARD (TRUSTEE): $292,366 total reported compensation
  • MICHAEL DUNN (TRUSTEE): $283,775 total reported compensation
  • KEITH EISGRUBER (TRUSTEE): $4,519 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 provide educational scholarship assistance to members of local 417 and their families.

What it reported doing in 2024

Providing educational scholarships to members of local 417 and members families

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.9%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -95.8%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 4.75; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 489.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 12.4% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $42K in reported program spending
  • Leadership: top reported pay $292K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.