Lps Education Foundation Inc

Nonprofit profile at a glance

EIN
201085968
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Livonia, MI, USA
Phone
7344643660
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$136,977
Expenses
$139,220
Assets
$1,523,107
Liabilities
$4,017

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

Leadership & pay

15 people listed

Executive titles in this filing

  • LAURA ULASZEK (EXECUTIVE DIRECTOR(NON-VOTE))
  • KELLIE DUMMER (PRESIDENT)
  • ROBB DRZEWICKI (VICE-PRESIDENT)

Highest reported compensation

  • LAURA ULASZEK (EXECUTIVE DIRECTOR(NON-VOTE)): $42,850 total reported compensation

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

Overview

Mission

Enlarge resources available for the school district which will foster and expand educational opportunities for programs impacting students by building effective collaborations and contributing to the establishment of collge savings programs

What it reported doing in 2024

Mesp college savings accounts were set up for each eligible kindergartener in livonia public schools that applied for the competitive edge program. These funds were invested until the student became a senior in livonia public schools. The student then applies for distribution and provides information about what post-secondary program they will attend.

Operating model

Revenue model
Donor-supported. 81% 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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. The filing does not identify recipients for some grant dollars and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 62
  • Accountability: 74
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64%; rating input score 64
  • Program expense ratio: 54.5%; rating input score 54
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 3.7%; rating input score 4; 37th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.6%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 10.94; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 30.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 64% of revenue deployed · 54.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $76K in reported program spending
  • Leadership: top reported pay $43K · 15 people listed
  • Consistency: 25 of 27 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Grant itemization coverage scored 4/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.