Monroe County Education Foundation Inc

Nonprofit profile at a glance

EIN
650551178
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Key West, FL, USA
Phone
3052931400
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Education

Official website

Reported finances

Revenue
$2,363,490
Expenses
$1,606,305
Assets
$16,820,956
Liabilities
$2,206

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

Leadership & pay

16 people listed

Executive titles in this filing

  • CHUCK LICIS-MASSON (TSIC COORDINATOR/EXECUTIVE DIRECTOR)
  • JOHN PADGET (PRESIDENT EMERITUS)

People named in this filing

  • BRYAN GREEN (PRES. THRU 12/24; TREAS. AS OF 1/25)
  • RON SAUNDERS (VP THRU 12/24; PRES. AS OF 1/25)
  • MARIANNE FINIZIO (DIRECTOR THRU 12/24; VP AS OF 1/25)

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 activities that are directed toward aiding, supplementing, improving, enhancing and complementing the activities of the public school system and provide scholarships for monroe county students.

What it reported doing in 2024

The monroe county education foundation (mcef), through its flagship program take stock in children (tsic), provides funding, summer educational enhancement opportunities, and mentorship to help monroe county students achieve their potential. Mcef provides access to higher education for Florida students who are at risk of not attending college or university. Through the program, mcef matches at risk students with mentors, guides students in making smart career choices, and guarantees resources so that monroe county students may complete a college degree or certificate. Tsic monroe grants college scholarships upon high school graduation to qualified 6th-12th grade student-recipients of income eligible families residing in the county. (continued on schedule o.)tsic monroe is an award-winning model in the state of Florida, a concerted endeavor consisting of approximately 370 dedicated volunteer mentors and students with a network of individual donors, corporate sponsors and a hardworking staff. Mcef recognized the accomplishments and celebrated the graduation of 81 tsic scholars in may 2025 during a live outdoor ceremony. A total of 1,165 students from monroe county have received scholarships since the program was founded.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.

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.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.8%; rating input score 68
  • Program expense ratio: 98.7%; rating input score 99
  • 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; 72nd 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 32%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 10.47; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 67.8% of revenue deployed · 98.7% of spending went to programs
  • Governance: 16 of 16 board members independent · 6 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Highest-paid contractors: 1 contractor listed · $149K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: Document-retention policy not reported.