Noodles & Company Foundation

Nonprofit profile at a glance

EIN
471316698
IRS 990 coverage
2021–2025
Forms available
Form 990 2025, Form 990-EZ 2020
Location
Broomfield, CO, USA
Phone
7205742126
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Corporate Foundations

Official website

Reported finances

Revenue
$104,177
Expenses
$95,144
Assets
$118,141
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • KATHY LOCKHART (PRESIDENT & TREASURER)
  • COREY KLINE (VICE PRESIDENT)

People named in this filing

  • KATHY LOCKHART (PRESIDENT & TREASURER)
  • JENNILEE CHILDS (BOARD MEMBER)
  • COREY KLINE (VICE 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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the noodles & company foundation is to support noodles & company team members by providing hardship grants and scholarship opportunities, and to support the neighborhoods we serve by making donations to organizations that make a positive impact in our local neighborhoods and communities.

What it reported doing in 2025

Team member giving fund - this fund makes gifts to noodles & coimpany team members and their families to assist them in handling financial challenges and/or catastrophic or emergency hardships. See schedule i for more information.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up. Some filing-based governance responses are negative or unanswered and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 93
  • Accountability: 6
  • Sustainability: 56
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.7%; rating input score 58
  • Program expense ratio: 63.2%; rating input score 63
  • 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; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 8.7%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -7.7% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -11.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -17.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 57.7% of revenue deployed · 63.2% of spending went to programs
  • Governance: 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $60K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • 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: Governance controls: 5 of 6 not reported.
  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.