Lumber and Building Material Dealers Foundation

Nonprofit profile at a glance

EIN
166095028
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Rensselaer, NY, USA
Phone
5182861010
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$461,180
Expenses
$500,317
Assets
$1,722,304
Liabilities
$38,919

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

Leadership & pay

15 people listed

Executive titles in this filing

  • GENN HOWLEY (PRESIDENT)
  • JEREMEY BAKER (VICE PRESIDENT)

Highest reported compensation

  • RITA C FERRIS CAE (SECRETARY): $307,367 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 promote and support investment, education, and research related to, and for the benefit of, the lumber and building material dealers, their employees, customers, and the general public.

What it reported doing in 2024

The foundation has established a fund to assist families who have lost their house due to a natural disaster (fire, flood, high winds, etc.). A total of $9,000 in grants was paid to members in need for the year ended 9/30/24.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% 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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.6%; rating input score 100
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 80th 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: -8.5%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 3.44; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 99.6% of revenue deployed · 91.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $459K in reported program spending
  • Leadership: top reported pay $307K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 24/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.