Savannah State University Foundation Inc and Subsidiaries

Nonprofit profile at a glance

EIN
237305890
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Savannah, GA, USA
Phone
9123584275
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$7,401,670
Expenses
$5,855,764
Assets
$67,046,000
Liabilities
$62,577,104

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

Leadership & pay

27 people listed

Executive titles in this filing

  • HAROLD WASHINGTON (SSUNAA PRESIDENT)

People named in this filing

  • DR WILLIAM T SIMMONS (DIRECTOR (PAST CHAIR))
  • LATANGA I ALLEN-FELDER (DIRECTOR)
  • HON EMANUEL LARKIN JR (DIRECTOR)

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 purpose of the foundation is the establishment of funds to be used for the advancement of savannah state university and for the promotion of the education and welfare of faculty and students. This includes raising and managing funds, providing scholarships, and renovating and operating student housing complexes on the campus.

What it reported doing in 2024

The foundation primarily exists to support students and activities at the university. This fiscal year that support was provided by raising funds to award scholarships to university students and to provide support to university auxillaries. The foundation also exists to provide student resident housing to the students of savannah state university.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 95% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 26
  • Transparency & Controls: 93
  • Accountability: 94
  • Sustainability: 75
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.8%; rating input score 27
  • Program expense ratio: 34.5%; rating input score 34
  • 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; 72nd 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: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 20.9%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 11.45; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -6.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 26.8% of revenue deployed · 34.5% of spending went to programs
  • Governance: 27 of 27 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $0 · 27 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 27/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 34/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.