Project Medsend

Nonprofit profile at a glance

EIN
752470543
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Fort Mill, SC, USA
Phone
2038918223
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Christianity

Official website

Reported finances

Revenue
$3,551,359
Expenses
$3,924,425
Assets
$3,079,136
Liabilities
$158,867

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

Leadership & pay

17 people listed

Executive titles in this filing

  • RICHARD C ALLEN-PRESIDENT (CEO/CHAIR. RETIREMENT OVERSIGHT COMM.)

Highest reported compensation

  • RICHARD C ALLEN-PRESIDENT (CEO/CHAIR. RETIREMENT OVERSIGHT COMM.): $163,499 total reported compensation
  • MORGAN BOARDMAN (CHIEF DEVELOPMENT OFFICER): $144,296 total reported compensation
  • JOHN SIMONTACCHI (SR. VP OF DEVELOPMENT): $125,284 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

In partnership with key christian ministries, our mission is to strategically fund qualified healthcare professionals to serve the physical and spiritual needs of people around the world.

What it reported doing in 2024

Launch project - after graduation, christian nationals who feel called to work in mission hospitals and clinics serving the most vulnerable and under-resourced areas will be eligible to apply for a salary subsidy through the launch project. This program helps the national scholar transition into missionary work by providing financial support for three years.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73%; rating input score 73
  • Program expense ratio: 63.3%; rating input score 63
  • Fundraising efficiency: $3.39 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -10.5%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 73% of revenue deployed · 63.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $163K · 17 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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: Fundraising efficiency scored 10/100.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 27/100.