Rotary Club of Wilmington Educational Foundation

Nonprofit profile at a glance

EIN
510329617
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3026556025
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$127,623
Expenses
$96,185
Assets
$2,210,755
Liabilities
$192,050

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

Leadership & pay

4 people listed

People named in this filing

  • CARRIE W GRAY (TRUSTEE)
  • LYNN C JONES (TRUSTEE)
  • JONATHAN R HICKEY (TRUSTEE)

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

To provide grants and other financial aid primarily in the form of academic and vocational scholarships to qualifying students in the wilmington and new castle county surrounding area.

What it reported doing in 2024

The rotary club of wilmington educational foundation provides scholarships to students who are about to enter their freshman year of college. Scholarship recipients may apply to renew the grant for their sophomore, junior, and senior years. Academic candidates must be residents of new castle county, Delaware. They must be a high school senior attending a public or private school in new castle county and formally admitted to a public or private college or university for the upcoming academic year. It is not required that the college or university be located in Delaware.

Operating model

Revenue model
Investment-supported. 87% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

STRONG - 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 some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 88
  • Accountability: 76
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.6%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 22.98; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $96K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.