Porchlight Foundation Inc

Nonprofit profile at a glance

EIN
391980214
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-N 2012
Location
Madison, WI, USA
Phone
6082572534
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$42,829
Expenses
$5,005
Assets
$749,473
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • JEFF FEMRITE (PRESIDENT)
  • PETER MORTENSON (VICE PRESIDENT)

Highest reported compensation

  • KARLA THENNES (SECRETARY): $154,162 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 support porchlight, inc. In providing low-cost housing assistance and related support services to those in need.

What it reported doing in 2024

The porchlight foundation, inc. Is committed to providing low-income housing assistance and related support services to those in need.

Operating model

Revenue model
Investment-supported. 86% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 68
  • Sustainability: 83
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 88.3%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 149.74; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 643%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -57.5% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -4.2% per year; rating input score 0; 45th percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $154K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.