Massachusetts Soldiers Legacy Fund
Nonprofit profile at a glance
- EIN
- 201909556
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Northborough, MA, USA
- Phone
- 5086302382
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $124,561
- Expenses
- $413,235
- Assets
- $3,270,528
- Liabilities
- $20,932
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Highest reported compensation
- ERICA ZEIGER (DIRECTOR): $105,146 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 provide educational assistance grants to the children of Massachusetts service members who have died in the war against terrorism while deployed on operations enduring freedom and iraqi freedom, or in other, future theaters of operation, and Massachusetts employees of the cia who have died in such conflicts or theaters of operation. The mslf is specifically designed to grant funds for current and future educational assistance for children whose parent's home of record at the department of defense (dod) was Massachusetts. Over the next 20+ years, the mslf is committed to dispersing educational assistance grants to the children of Massachusetts based service members.
What it reported doing in 2024
The Massachusetts soldiers legacy fund, supports with education grants 54 families and 89 children who have lost a parent in combat or as a result of combat and their home of record according to the department of defense was Massachusetts. These children are eligible to receive educational grants from the mslf. Currently, these children's ages range from 5 to 37 years of age. The mslf distributes grants to eligible children for higher education, educational and vocational programs, pre and post-secondary education. In 2024, the mslf distributed a total of $236,740 in grants for the benefit of these children.
Operating model
- Revenue model
- Investment-supported. 63% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 33
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 86.8%; rating input score 87
- Fundraising efficiency: $2.24 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -231.8%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 7.91; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
- Officer compensation ratio: 25.4%; rating input score 14; 14th percentile among comparable filings
Growth
- Program expense growth: 4.8% per year; rating input score 100; 53rd percentile among comparable filings
- Revenue growth: -3.7% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: -1.2% per year; rating input score 0; 20th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 86.8% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $359K in reported program spending
- Leadership: top reported pay $105K · 8 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 14 filing years from 2010 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 10/100.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 14/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 48/100.