Otha E Herring Scholars Fund Ii

Nonprofit profile at a glance

EIN
756690166
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Raleigh, NC, USA
Phone
9197162015
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$49,710
Expenses
$46,146
Assets
$834,195
Liabilities
$0

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

Leadership & pay

8 people listed

Highest reported compensation

  • FIRST CITIZENS BANK (TRUSTEE): $7,685 total reported compensation

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

Overview

Mission

Provide scholarships to students of james sprunt community college who are either residents of duplin county, nc or the town of mount olive, nc

What it reported doing in 2024

Provide scholarships to students who attend james sprunt community college

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 90% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 93
  • Accountability: 63
  • Sustainability: 62
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.7%; rating input score 92
  • 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: 87.5%; rating input score 88; 26th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.2%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 18.08; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 16.7%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 42nd percentile among comparable filings
  • Revenue growth: -5.9% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.7% of spending went to programs
  • Governance: 7 of 8 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $8K · 8 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.