Magnolia Community Foundation Inc

Nonprofit profile at a glance

EIN
264414381
IRS 990 coverage
2012–2017
Forms available
Form 990 2017, Form 990-EZ 2016
Location
Magnolia, TX, USA
Phone
2803800332
Rating
62
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Community Foundations

Reported finances

Revenue
$103,356
Expenses
$106,240
Assets
$22,054
Liabilities
$22,054

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • KENDRICK SKIPPER (PRESIDENT)
  • KRIS FRENCHAK (VICE PRESIDENT)

People named in this filing

  • KENDRICK SKIPPER (PRESIDENT)
  • JASON RINN (TREASURER)
  • DR ANITA HEBER (SECRETARY)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The nbsp; organization nbsp; is nbsp; designed nbsp; to nbsp; raise nbsp; funds nbsp; in nbsp; support nbsp; of nbsp; other nbsp; local nbsp; non-profit nbsp; entities nbsp; in nbsp; offering nbsp; grants nbsp; for nbsp; other nbsp; community nbsp; and nbsp; education nbsp; non-profits

What it reported doing in 2017

The largest program services are related to the ticket sales for the local renaissance festible and the magnolia beauty pagent

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Multi-channel. The nonprofit split its reported program spending across 19% for direct work, 29% for grants, and 52% for affiliated organizations.

The verdict

SUPPORTED - The filed numbers largely add up. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 100
  • Accountability: 30
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 60.4%; rating input score 60
  • Fundraising efficiency: $2.46 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.8%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 37.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -20.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -19.5% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 60.4% of spending went to programs
  • Governance: 0 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $106K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2012 to 2017
  • Contacts: How to reach this organization
  • 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.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.