Midway Foundation Inc

Nonprofit profile at a glance

EIN
510571147
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
San Diego, CA, USA
Phone
6195449600
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$6,312,919
Expenses
$625,250
Assets
$9,707,470
Liabilities
$0

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

Leadership & pay

17 people listed

Executive titles in this filing

  • LAURA WHITE LUDVICK (Fmr President)

People named in this filing

  • BUFORD BUF ALEXANDER (Treasurer)
  • JEFF BERG (Director)
  • JOHN JACK' R MCGRORY (Director)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support education programs, organizations and initiatives that support Americas core values of service and sacrifice in the name of freedom.

What it reported doing in 2024

Funds have been granted to nonprofit benefit organizations that support veterans, military families and first responders operational safety

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 96
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.4%; rating input score 11
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 98.4%; rating input score 98; 35th 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 7 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 90.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 15.53; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 28.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 29.8% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 11.4% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $625K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 23 filed money-flow records
  • Related organizations: 23 filed related-organization links
  • 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 11/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.