Pathway Community Foundation Corporation

Nonprofit profile at a glance

EIN
923573559
IRS 990 coverage
2023–2025
Forms available
Form 990 2025
Location
Raleigh, NC, USA
Phone
2023699554
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$219,994
Expenses
$226,289
Assets
$53,743
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • AYINDE SIMON (PRESIDENT AND DIRECTOR)

Highest reported compensation

  • AYINDE SIMON (PRESIDENT AND DIRECTOR): $42,325 total reported compensation
  • KEVIN FOMENGIA (TREASURER & DIRECTOR): $40,000 total reported compensation
  • ALYSON KONG (EXECUTIVE ASSISTANT): $12,171 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To build thriving technology ecosystems in underrepresented cities and HBCU communities. We ve planned workforce development programs, career fairs, and technology institutes.

What it reported doing in 2025

HBCU Smart Cities Program

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.9%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 43.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 31.1% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -22.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -75% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 2 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $103K in reported program spending
  • Leadership: top reported pay $42K · 6 people listed
  • Highest-paid contractors: 3 contractors listed · $20K reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.