Old Threshers Foundation Inc

Nonprofit profile at a glance

EIN
421272944
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Mt Pleasant, IA, USA
Phone
3193858937
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$144,119
Expenses
$237,607
Assets
$4,693,977
Liabilities
$0

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

Leadership & pay

16 people listed

Executive titles in this filing

  • TODD MABEUS (PRESIDENT)

Highest reported compensation

  • MELINDA HUISINGA (SECRETARY): $12,000 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 purpose of the corporation is as follows: to operate for charitable and educational purposes by raising funds for and distributing the income from those funds for capital projects, improvements, and emergency funding of the midwest old settlers and threshers association, inc.

What it reported doing in 2024

The foundation supports events like festival of lights and the Iowa state fair tourism booth to attract people to the midwest old settlers & threshers grounds. Foundation board members participate in field trip tours for nearly 1,000 upper elementary school age children who visit midwest old threshers each spring. The students are given a gift bag provided by a foundation board member and information for the upcoming reunion to encourage the children to return with their families during the annual reunion.

Operating model

Revenue model
Investment-supported. 66% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 92% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 80
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 80.4%; rating input score 80
  • 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; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -64.9%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 19.76; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 80.4% of spending went to programs
  • Governance: 12 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $191K in reported program spending
  • Leadership: top reported pay $12K · 16 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.