Main Street Foundation
Nonprofit profile at a glance
- EIN
- 742932297
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Austin, TX, USA
- Phone
- 5124746889
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Management & Technical Assistance
Reported finances
- Revenue
- $1,231,473
- Expenses
- $1,060,558
- Assets
- $711,946
- Liabilities
- $540,393
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- CHRISTOPHER WILLISTON VI (PRESIDENT)
Highest reported compensation
- CHRISTOPHER WILLISTON VI (PRESIDENT): $394,089 total reported compensation
- URSULA JIMENEZ (SECRETARY/TR): $258,679 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Funds initiatives with the power to help community bankers actively create a more secure financial future for all texans. Focus is directed toward financial literacy programs for bankers.
What it reported doing in 2024
Community bank education includes a blend of practical one-five day instructor-led/online seminars and banking schools that focus on rules and regulations that govern lending, investment and operational practices in community banks.
Operating model
- Revenue model
- Earned-program. 68% of the money available for current operations came from fees and other program revenue.
- 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
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: 74
- Transparency & Controls: 71
- Accountability: 76
- Sustainability: 46
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70.3%; rating input score 70
- Program expense ratio: 81.4%; rating input score 81
- Fundraising efficiency: $48.91 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings
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: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: 13.9%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 0.67; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.76; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 11.1%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings
- Revenue growth: 1.9% per year; rating input score 100; 24th percentile among comparable filings
- Asset growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
Details
- Where the money goes: 70.3% of revenue deployed · 81.4% of spending went to programs
- Governance: 6 of 8 board members independent · 7 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $863K in reported program spending
- Leadership: top reported pay $394K · 8 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $272K reported
- Consistency: 23 of 23 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.