River Vale Educational Fund Inc

Nonprofit profile at a glance

EIN
113830615
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Woodcliff Lake, NJ, USA
Phone
8623450477
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$1,787,055
Expenses
$1,469,840
Assets
$2,627,547
Liabilities
$183,018

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

Leadership & pay

7 people listed

Executive titles in this filing

  • THOMAS GALLIONE (PRESIDENT)

People named in this filing

  • THOMAS GALLIONE (PRESIDENT)
  • HEIDI MARKELL (SECRETARY)
  • GREGORY NOORIGIAN (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The river vale educational fund (rvef) is a nonprofit organization that operates independent of the board of education. The goal of the rvef is to provide supplementary funding to help maintain the district's commitment to excellence. The river vale educational fund provides privately-raised, non-tax dollar financing that will assist in guaranteeing that the school district will provide the finest education experiences for each and every student.

What it reported doing in 2024

School district grants - the rvef board members designate, discuss, vote and approve which donations are made and to which school. Generally, a donation will be made to both grammar schools at once or to the middle school. The board members determine what investments to make with no input from teachers or staff members. Grants, on the other hand, are driven initially by applications completed by the staff. The rvef grant committee then reviews all grants applications completed and determines which ones should be brought to the rvef board members for final consideration.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.8%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.79; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 13.6% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 94.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.