Out of the Ashes 5K Inc

Nonprofit profile at a glance

EIN
871519875
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Charlotte, NC, USA
Phone
7045203292
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Official website

Reported finances

Revenue
$283,862
Expenses
$209,547
Assets
$106,944
Liabilities
$5,999

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

Leadership & pay

7 people listed

Highest reported compensation

  • Thomas Facinoli (Executive Dir.): $62,000 total reported compensation

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

Overview

Mission

Our goal with Out of the Ashes Foundation is to help restore hope in each grieving parent and couple who comes through our ministry. We believe that ultimate healing will come only from a renewed and deepened relationship with our Creator. He is the living water that does not run dry. He restores. He refreshes. He redeems. And it is from this hope that long-term healing can make a home in a broken heart.

What it reported doing in 2024

Medical Grant Program: Provides financial assistance for medical bills associated with pregnancy or infant loss. We alleviate the financial burden from grieving parents so they can focus on navigating a new normal with their families. Through the fundraising from out events, corporate sponsorships, church partners and individual donors, we can practically serve bereaved families by covering medical expenses associated with pregnancy loss and early infant loss.

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 92% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 22
  • Transparency & Controls: 94
  • Accountability: 58
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.7%; rating input score 22
  • Program expense ratio: 29.4%; rating input score 29
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26.2%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 29.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 146.8% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 120.3% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 21.7% of revenue deployed · 29.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 0 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $62K in reported program spending
  • Leadership: top reported pay $62K · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 22/100.
  • High — Financial Efficiency: Program expense ratio scored 29/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.