San Patricio Electric Education Trust

Nonprofit profile at a glance

EIN
742915182
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Sinton, TX, USA
Phone
3613642220
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$263,153
Expenses
$72,061
Assets
$3,111,105
Liabilities
$0

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

Leadership & pay

3 people listed

Highest reported compensation

  • TOM MAYO (TRUSTEE): $8,100 total reported compensation
  • CLYDE STEWART (TRUSTEE): $6,900 total reported compensation
  • JIM BASSETT (TRUSTEE): $6,900 total reported compensation

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

Overview

Mission

To provide educational scholarships to help students pursue higher education.

What it reported doing in 2024

The organization paid out $46,250 in scholarships to 37 different students during the tax year. The scholarships are paid in $1,250 increments per semester. Students are required to maintain a minimum of 12 semester hours and a minimum 2.5 grade point average for the previous semester.

Operating model

Revenue model
Investment-supported. 70% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 93
  • Accountability: 16
  • Sustainability: 84
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42%; rating input score 42
  • Program expense ratio: 64.2%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • 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: 72.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 43.17; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -6.1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -3.7% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 42% of revenue deployed · 64.2% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $46K in reported program spending
  • Leadership: top reported pay $8K · 3 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.