Ponagansett Education Foundation

Nonprofit profile at a glance

EIN
263119513
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2013
Location
Foster, RI, USA
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$121,212
Expenses
$13,520
Assets
$572,763
Liabilities
$137,221

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MARK BAKER (PRESIDENT)
  • MICHAEL BARNES (VICE PRESIDENT)

People named in this filing

  • MARK BAKER (PRESIDENT)
  • MICHAEL BARNES (VICE PRESIDENT)
  • LYNN M RICHARDSON (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation does 2 things: Award Scholarships to students attending college, Awarg grants to fund projects managed by Ponaganset High andMiddle school teachers for student benefits. These grants are to fund projects that normally would not fund through annual school budgets

What it reported doing in 2025

Scholarships awarded to high school seniors who will be attending college and scholarships to students who are currently attending college. Our scholarships are for 4 years at $4,000 per year. In 2023 we also awarded one scholarship at $500 per year for the first 2 years and $2,000 per year for the last 2 years. In 2025 we awarded a trade scholarship for a total one time award of $5,000. The 2025 breakdown for scholarship money paid as follows: 10 students for 2 semesters ($4K) $40,000; 1 student for 3 semesters ($6K) $6,000; 6 students for 1 semester($2K) $12,000; 1 student for 2 semesters(250.00)$500 and 1 semester ($1,000): 1 Student for a trade scholarship $5,000.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 93
  • Accountability: 12
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19%; rating input score 19
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 88.8%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 42.36; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 11.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 16.4% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 19% of revenue deployed · 96% of spending went to programs
  • Governance: 0 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $13K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 19/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.