Mhc Academic Foundation

Nonprofit profile at a glance

EIN
208407010
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Martinsville, VA, USA
Phone
2764034445
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,196,414
Expenses
$295,020
Assets
$16,118,675
Liabilities
$2,061

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

Leadership & pay

6 people listed

Highest reported compensation

  • KEVIN DEKONINCK (Executive Dir.): $78,600 total reported compensation
  • SIMONE REDD (CHAIRWOMAN): $1,200 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 financial and other support for the dissemination of education in martinsville and henry county, Virginia, including but not limited to support of new college institute.

What it reported doing in 2024

Foundation encouraged and coordinated the development and delivery of degree programs and other credit and non-credit courses for the purpose of satisfying statewide critical shortage areas and industry needs. This was accomplished by providing direct and indirect support to new college institute and to those students attending.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 72% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 20
  • Transparency & Controls: 93
  • Accountability: 95
  • Sustainability: 85
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.6%; rating input score 21
  • Program expense ratio: 24%; rating input score 24
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • 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: 75.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 54.64; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 27%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -19.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -21.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 20.6% of revenue deployed · 24% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $71K in reported program spending
  • Leadership: top reported pay $79K · 6 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 8/100.