Milford Schools Foundation

Nonprofit profile at a glance

EIN
470830054
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2011
Location
Milford, NE, USA
Phone
4027613321
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$389,066
Expenses
$110,820
Assets
$3,638,014
Liabilities
$20,000

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

Leadership & pay

8 people listed

Executive titles in this filing

  • LARRY HEYEN (PRESIDENT)

People named in this filing

  • DEE ERB (SECRETARY)
  • GREG DUNLAP (BOARD MEMBER)
  • LARRY HEYEN (PRESIDENT)

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

Provide scholarships to graduates of milford public schools as well as provide enhanced educational opportunities for current students.

What it reported doing in 2024

Provide scholarships to graduating seniors of milford public schools as well as provide enhanced educational opportunities for current students.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.6%; rating input score 20
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 71.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 32.83; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -22.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 19.6% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $111K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 20/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.