Luke Homan Foundation Inc

Nonprofit profile at a glance

EIN
260302886
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Milwaukee, WI, USA
Phone
4142763400
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$176,734
Expenses
$146,724
Assets
$508,420
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • SAM DONALDSON (DIRECTOR)
  • PATRICIA M HOMAN (VICE-PRES/DI)
  • DAVID MCGINN (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fund college scholarships for brookfield central high school students and make grants to other public charities

What it reported doing in 2025

The foundation's annual memorial golf outing was held at legends at brandybrook on july 28, 2025. Over 190 golfers helped raise more than 200,000 to continue to fund scholarships and grants in memory of luke homan.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 75
  • Accountability: 47
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 54.5%; rating input score 55; 46th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 20th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 3.47; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 3 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 55/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.