North Central Michigan College Foundation

Nonprofit profile at a glance

EIN
382910328
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Petoskey, MI, USA
Phone
2313486621
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$11,975,497
Expenses
$1,919,172
Assets
$20,835,549
Liabilities
$0

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

Leadership & pay

17 people listed

Executive titles in this filing

  • DAVID FINLEY PHD (PRESIDENT)
  • CHELSEA PLATTE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID FINLEY PHD (PRESIDENT): $249,481 total reported compensation
  • CHELSEA PLATTE (EXECUTIVE DIRECTOR): $136,508 total reported compensation

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

Overview

Mission

To initiate philanthropy in partnership with north central Michigan college and the community in order to provide financial support for the mission and goals of the college.

What it reported doing in 2024

All grants to north central Michigan college are for educational purposes.

Operating model

Revenue model
Donor-supported. 92% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 71
  • Accountability: 80
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.8%; rating input score 18
  • Program expense ratio: 61.2%; rating input score 61
  • Fundraising efficiency: $23.92 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 84%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 10.86; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 18.1% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 17.1% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 17.8% of revenue deployed · 61.2% of spending went to programs
  • Governance: 14 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $249K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 18/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Officer compensation ratio scored 56/100.