Permanent Endowment Fund for Martha's Vineyard

Nonprofit profile at a glance

EIN
042774790
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
West Tisbury, MA, USA
Phone
5083384665
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$1,719,447
Expenses
$2,434,273
Assets
$12,842,215
Liabilities
$155,981

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

14 people listed

Highest reported compensation

  • EMILY B BRAMHALL (EXECUTIVE DI): $109,200 total reported compensation
  • MARTHA'S VINEYARD SAVINGS BANK (TRUSTEE): $59,072 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The permanent endowment fund for martha's vineyard, the island's community foundation, puts charitable contributions to work for the people of martha's vineyard by makig grants that address community needs, funding scholarships for island students and building an endowment to provide the resources to enhance and preserve the quality of life on the vineyard forever.

What it reported doing in 2019

Putting contributions to work for the benefit of the martha's vineyard community through grants to island non-profit organizations and scholarships to martha's vineyard students.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 94
  • Accountability: 86
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: $41.31 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 74th 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -41.6%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 5.28; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 23.8% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $109K · 14 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2010 to 2019
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 13 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.