Owatonna Foundation Inc

Nonprofit profile at a glance

EIN
416038547
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Owatonna, MN, USA
Phone
5074552995
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$916,828
Expenses
$559,000
Assets
$11,232,066
Liabilities
$258,276

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

Leadership & pay

27 people listed

Executive titles in this filing

  • DAVE RAMSEY (PRESIDENT)

Highest reported compensation

  • SARA MCKAY (EXECUTIVE SE): $68,600 total reported compensation

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

Overview

Mission

To provide money grants to non-profit agencies located in steele county to acquire property & equipment and to provide scholarships to local high school students.

What it reported doing in 2024

To provide money grants to other 501(c)(3) agencies to purchase equipment, make improvements, etc. For the community betterment, educational, health, literary, recreational, scientific, musical, or cultural benefit of the residents of the steele county area.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 89
  • Accountability: 76
  • Sustainability: 81
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.9%; rating input score 81
  • Program expense ratio: 78.6%; rating input score 79
  • Fundraising efficiency: $12.32 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.8%; rating input score 98; 45th 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: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 20.09; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -3.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -18.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 80.9% of revenue deployed · 78.6% of spending went to programs
  • Governance: 26 of 26 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $440K in reported program spending
  • Leadership: top reported pay $69K · 27 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.