Nevada Hospitality Foundation

Nonprofit profile at a glance

EIN
880474005
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
Las Vegas, NV, USA
Phone
7028782313
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$91,113
Expenses
$68,397
Assets
$153,824
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • Katherine Jacobi (President, CEO)

Highest reported compensation

  • Katherine Jacobi (President, CEO): $35,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The ProStart Program is a two year high school culinary training course, taken as an elective class. The program is three hundred fifty hours of instruction and four hundred hours of an industry work experience. After passing the exams for Year one, Year two, and completing the competencies, students receive a certificate from the National Restaurant Association and an opportunity for scholarships. The Nevada Hospitality Foundation implements the program statewide in partnership with the Nevada Restaurant Association. Students learn topics such as food safety, knife cuts, basic cooking techniques, baking, menu design, basic accounting, costing, and restaurant management. On behalf of the Nevada Restaurant Association, we want to express our concern for the situation faced by so many in our restaurant community. We are proud to report that the Nevada Restaurant Relief Fund has raised over twenty thousand in grants to assist restaurant workers who have suffered financially.

What it reported doing in 2024

The ProStart Program is a two year high school culinary training course, taken as an elective class. The program is three hundred fifty hours of instruction and four hundred hours of an industry work experience. After passing the exams for Year one, Year two, and completing the competencies, students receive a certificate from the National Restaurant Association and an opportunity for scholarships. The Nevada Hospitality Foundation implements the program statewide in partnership with the Nevada Restaurant Association. Students learn topics such as food safety, knife cuts, basic cooking techniques, baking, menu design, basic accounting, costing, and restaurant management. On behalf of the Nevada Restaurant Association, we want to express our concern for the situation faced by so many in our restaurant community. We are proud to report that the Nevada Restaurant Relief Fund has raised over twenty thousand in grants to assist restaurant workers who have suffered financially due to the COVID19 health and economic crisis. Together, we are demonstrating how crucial restaurant workers are to our industry and the communities where we work and live.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - 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 and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.1%; rating input score 75
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.9%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 2.25; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 51.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 75.1% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $68K in reported program spending
  • Leadership: top reported pay $35K · 1 people listed
  • Consistency: 36 of 36 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: 3 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.