Millard College Foundation Inc

Nonprofit profile at a glance

EIN
852558978
IRS 990 coverage
2020–2023
Forms available
Form 990 2023
Location
Louisa, KY, USA
Phone
6062594155
Rating
57
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$1,934,016
Expenses
$1,449,469
Assets
$863,133
Liabilities
$145,407

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • RANDY STINSON (PRESIDENT OF)

Highest reported compensation

  • MATT BROWN (BOARD MEMBER): $365,295 total reported compensation
  • LAWRENCE VINSON (BOARD MEMBER): $273,487 total reported compensation
  • RANDY STINSON (PRESIDENT OF): $193,113 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the millard college is to provide quality education in an atmosphere of love, that is safe and built for learning. The college is committed to enabling students to reach their academic, vocational, and personal goals.

What it reported doing in 2023

To provide quality educational services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 65
  • Accountability: 31
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.6%; rating input score 60
  • Program expense ratio: 79.5%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.1%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 53.5% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 59.6% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 62.1% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 59.6% of revenue deployed · 79.5% of spending went to programs
  • Governance: 0 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $365K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.