May Owen Irrevocable Trust

Nonprofit profile at a glance

EIN
237377962
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Austin, TX, USA
Phone
5123701490
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$321,920
Expenses
$280,650
Assets
$4,660,202
Liabilities
$0

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

Leadership & pay

26 people listed

Executive titles in this filing

  • MICHAEL J DARROUZET (CEO)

Highest reported compensation

  • MICHAEL J DARROUZET (CEO): $718,305 total reported compensation
  • JOHN E DORMAN (COO): $552,188 total reported compensation
  • G RAY CALLAS MD (PRES(24-25)/PRES-ELECT(23-24)): $134,833 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of this fund is to loan money to qualified medical students who establish financial need.

What it reported doing in 2024

The fund loans money to qualified medical students who establish financial need. In 2024, $232,0000 was loaned to 41 medical residents and medical students.

Operating model

Revenue model
Investment-supported. 62% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% 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. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 88
  • Accountability: 86
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 61.3%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.8%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 16.61; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 45.8%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 61.3% of spending went to programs
  • Governance: 18 of 18 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $172K in reported program spending
  • Leadership: top reported pay $718K · 26 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 5/100.