P3 Foundation Inc
Nonprofit profile at a glance
- EIN
- 822912570
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-N 2018
- Location
- Denver, CO, USA
- Phone
- 9724155348
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $39,643,717
- Expenses
- $29,633,130
- Assets
- $1,308,256,747
- Liabilities
- $1,326,999,822
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- JEFF KLEIN (PRESIDENT)
Highest reported compensation
- KIM WYATT (EXECUTIVE DI): $461,702 total reported compensation
- GREG FAWCETT (SECRETARY): $300,000 total reported compensation
- LOUISE WALLER (DIRECTOR): $30,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To partner with public and charitable entities to develop services, activities, and programs designed for senior housing, education, health care facilities, affordable housing, and governments.
What it reported doing in 2024
Other projects in construction phase include: healthcare: acquisition and construction of wellness village project health care facility in riverside county, ca. The project is in connection with the riverside university health system and will offer outpatient and residential services for behavioral health and substance use disorders, primary healthcare, and behavioral health urgent care. Senior living: acquisition and construction of senior living facility in irvine, ca. The project is an 8 story facility offering independent, assisted living, and memory care. City development project: construction of a state-of-the-art workforce development center in baltimore, md that will be home to the mayor's office of employment development.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 73
- Accountability: 50
- Sustainability: 79
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.5%; rating input score 66
- Program expense ratio: 87.1%; rating input score 87
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 87.8%; rating input score 88; 19th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 50%; rating input score 50; 8th percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 25.3%; rating input score 86; 86th percentile among comparable filings
- Total-asset coverage ratio: 44.15; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 1.01; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 2.7%; rating input score 71; 71st percentile among comparable filings
Growth
- Program expense growth: 40.3% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 46.4% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 55.1% per year; rating input score 100; 99th percentile among comparable filings
Details
- Where the money goes: 65.5% of revenue deployed · 87.1% of spending went to programs
- Governance: 3 of 6 board members independent · 4 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $25.8M in reported program spending
- Leadership: top reported pay $462K · 7 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $95.4M reported
- Consistency: 28 of 29 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 18 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: Independent voting board scored 50/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.