North Florida Educational Development Corporation

Nonprofit profile at a glance

EIN
592801357
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Gretna, FL, USA
Phone
8509339404
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$392,684
Expenses
$402,760
Assets
$1,868,666
Liabilities
$1,699,264

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

Leadership & pay

8 people listed

Executive titles in this filing

  • CAROLYN FORD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CAROLYN FORD (EXECUTIVE DIRECTOR): $28,800 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 mission is to empower individual and families in Gadsden self-sufficient and self sustaining; to develop mechanism for involvement and create a climate of cooperative solution

What it reported doing in 2024

The freedom school program incorporates an intense programming during the summer to engage youth in reading and encourage them to read more as well as discussing the benefits of skilled readers the target population are youth from low income families that may not have access to books libraries and schools or summer camp. Also this program provides mentoring to help kids build their self esteem and teaches strategies on leadership and character.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 100
  • Accountability: 26
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.9%; rating input score 98
  • Program expense ratio: 95.5%; rating input score 95
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • 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: -2.6%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 4.64; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 97.9% of revenue deployed · 95.5% of spending went to programs
  • Governance: 0 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $403K in reported program spending
  • Leadership: top reported pay $29K · 8 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.