Prn Alumni Foundation

Nonprofit profile at a glance

EIN
814833664
IRS 990-EZ coverage
2018–2019
Forms available
Form 990-EZ 2019
Location
Minneapolis, MN, USA
Phone
4245359342
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$13,402
Expenses
$11,358
Assets
$1,657
Liabilities
$33

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JACQUELINE THOMPSON (PRESIDENT)

People named in this filing

  • JACQUELINE THOMPSON (PRESIDENT)
  • HARLAN AUSTIN (TREASURER)
  • CRAIG RICE (SECRETARY)

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

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

Overview

Mission

Prn alumni foundation is comprised of former employees of paisley park and the international icon "prince." the group's missions is to continue the generosity of their late boss who supported opportunities for underpriviledged youth to grow in music, arts and education. The organization also helps alumni members in need. In addition, the foundation supports urban farming initiatives that create sources of healthy, organic foods where they are otherwise scarce.

What it reported doing in 2019

Prn alumni foundation hosts discussion events drawing on experiences from alumni members to promote music, education and opportunities.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 82
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.7%; rating input score 85
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 15.3%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 38% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -72.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 122.1% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 84.7% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $11K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2018 to 2019
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.