RJB Education Equity Foundation

Nonprofit profile at a glance

EIN
270248502
IRS 990 coverage
2013–2023
Forms available
Form 990 2023, Form 990-N 2012
Location
High Point, NC, USA
Phone
3368801713
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$83,630
Expenses
$532,016
Assets
$3,445,236
Liabilities
$218,209

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • PAUL NORCROSS (President)

Highest reported compensation

  • KIMBERLY NORCROSS (Vice ChairTreasurer): $121,201 total reported compensation
  • PAUL NORCROSS (President): $121,201 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To build on successes in the area of education and literacy and to expand outreach with books, libraries, education and therapeutic programs

What it reported doing in 2023

Managed operational and education services to Phoenix Academy, a K-8 charter school. The foundation is responsible for the implementation of the education program and is overseen by the Phoenix Academy BOD. Additional programming includes managing personnel, facilities and other essential operations of the school.

Operating model

Revenue model
Investment-supported. 64% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 60
  • Accountability: 23
  • Sustainability: 23
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 58.8%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 20th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -536.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 6.48; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 45.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 40th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 25.4% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 58.8% of spending went to programs
  • Governance: 0 of 2 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $313K in reported program spending
  • Leadership: top reported pay $121K · 2 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.