Norfolk Community Trust Exempt Fund

Nonprofit profile at a glance

EIN
541721199
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Norfolk, VA, USA
Phone
7577565600
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$62,431
Expenses
$26,518
Assets
$1,132,330
Liabilities
$0

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

Leadership & pay

2 people listed

People named in this filing

  • SAMUEL J WEBSTER (TRUSTEE)
  • WILLIAM A PRINCE (TRUSTEE)

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

The trust is organized to support the purposes of the norfolk community services board (ncsb), a department of the city of norfolk.

What it reported doing in 2024

A grant to ncsb for its homeless services, specificially for the food pantry.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 93
  • Accountability: 6
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.9%; rating input score 71
  • Program expense ratio: 68.6%; rating input score 69
  • 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; 80th 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 57.5%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 42.7; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 34.2% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 70.9% of revenue deployed · 68.6% of spending went to programs
  • Governance: 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $18K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.