North Haven Foundation

Nonprofit profile at a glance

EIN
016022839
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Rockland, ME, USA
Phone
2075944421
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$798,361
Expenses
$266,343
Assets
$6,503,560
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ELIZABETH LOVELL (PRESIDENT)

People named in this filing

  • CHRIS CABOT (TRUSTEE)
  • LINDA N CABOT (TRUSTEE)
  • PATRICIA CURTIS (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 mission of the foundation is to assist graduates of the north haven community school and adult residents of the island in their pursuit of a post secondary education, and to support the north haven community school in support of its extra curricular and tuition programs and college counseling.

What it reported doing in 2024

To provide financial assistance to families of graduates of the north haven community school and others with substantial connections to the town of north haven. During the year ending june 30, 2023 families of twelve students from north haven were assisted with college expenses in the amount of 164,198

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 94
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.9%; rating input score 82
  • Program expense ratio: 77.8%; rating input score 78
  • Fundraising efficiency: $6.37 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

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; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 66.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 24.42; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 81.9% of revenue deployed · 77.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $207K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 24/100.