Pipestone Area Dollars for Scholars

Nonprofit profile at a glance

EIN
416056345
IRS 990 coverage
2011–2016
Forms available
Form 990 2016
Location
Pipestone, MN, USA
Phone
5078254288
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$45,294
Expenses
$145,581
Assets
$4,649,388
Liabilities
$1,232

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DAMAIN SANDY (PRESIDENT)
  • CHUCK NESS (V PRESIDENT)

People named in this filing

  • DAMAIN SANDY (PRESIDENT)
  • CHUCK NESS (V PRESIDENT)
  • DAVID MEULEBROECK (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The general purpose and plan of this corporation shall be to obtain funds and disburse such funds in the form of loans or scholarships, for the furtherance of the education of students from within the school district.

What it reported doing in 2016

Obtain and disburse funds as loans or scholarships for the furtherance of education of the students within the school district

Operating model

Revenue model
Investment-supported. 94% of the money available for current operations came from recurring investment income.
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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 43
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

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: 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -221.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 31.94; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: -3.4% per year; rating input score 0; 45th percentile among comparable filings
  • Revenue growth: -33.6% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 93.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $137K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2011 to 2016
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.