Naba Foundation Inc

Nonprofit profile at a glance

EIN
923890441
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Greenbelt, MD, USA
Phone
3014746222
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$2,467,990
Expenses
$969,266
Assets
$2,186,896
Liabilities
$347

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

Leadership & pay

5 people listed

People named in this filing

  • RALPH THOMAS (CHAIR)
  • TASHA AUSTIN (VICE CHAIR)
  • KIMI ELLEN (SECRETARY)

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

Our mission is to close the black wealth gap through education, earnings, entrepreneurship, enterprise and equity.

What it reported doing in 2024

Naba foundation also plans to conduct research regarding employment, entrepreneurship, career education and training, and other topics, the results of which will help improve existing naba foundation educational programs while providing a body of knowledge for organizations with similar educational goals. Naba foundation intends to convene philanthropic organizations and research institutions and collaborate to develop best-in-class research initiatives that support these goals.naba foundation also plans to make scholarship grants to students. Since its inception, naba has provided more than $11 million in scholarship funds to deserving students preparing to enter various accounting, finance and business professions. The naba foundation will act as an additional vehicle for raising funds and disbursing scholarship grants to qualified students in conjunction with naba's existing scholarship programs and by creating new programs specific to the foundation that are supportive of naba's mission. Naba foundation may also support other organizations dedicated to similar goals.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.5%; rating input score 41
  • Program expense ratio: 100%; rating input score 100
  • 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: 60.7%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.26; rating input score 66; 66th 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: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 113.9% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 105.4% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 40.5% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $969K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.