Robert & Janice Mcnair Educational Foundation

Nonprofit profile at a glance

EIN
581870080
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Forest City, NC, USA
Phone
8282454339
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,768,835
Expenses
$3,168,920
Assets
$42,391,191
Liabilities
$0

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

Leadership & pay

9 people listed

Highest reported compensation

  • MONICA LEE (EXECUTIVE DI): $171,756 total reported compensation

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

Overview

Mission

Educational assistance to rutherford county, nc students.

What it reported doing in 2024

The foundation provides various services to schools in rutherford county, nc, including maintenance of a career center, training and support for volunteers to tutor students, assistance with financial aid and college and scholarship applications, and funding special classroom projects. Additionally, the foundation grants a variety of scholarships to individuals in rutherford county, nc and provides amounts to fund personnel to staff career centers for middle school and high school students.

Operating model

Revenue model
Investment-supported. 61% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 61
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.6%; rating input score 100; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -79.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 13.38; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: -13.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $172K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.