Saving Sweet Briar Inc

Nonprofit profile at a glance

EIN
473361420
IRS 990 coverage
2015–2015
Forms available
Form 990 2015
Location
Richmond, VA, USA
Phone
8046971272
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$14,685,120
Expenses
$14,347,764
Assets
$337,356
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • JO ANN SODERQUIST KRAMER (DIRECTOR)
  • SARAH CLEMENT (CHAIR)
  • SALLY MOTT FREEMAN (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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To engage in legal action to reverse the decision to close the college, together with a fundraising campaign to support this goal.

What it reported doing in 2015

The organization's mission was successful when on june 23, 2015, a settlement was entered by court order that ushered in new leadership of sweet briar college and provided the necessary funding to ensure that the college would remain open under the terms of the settlement agreement. In 2015, a total of $12,250,000 in cash was delivered by the organization to the college. As part of the settlement agreement, the organization agreed to deliver by september 2, 2015, $12 million in donations for the ongoing operation of the college. The organization delivered by september 2, 2015, $12.143 million in qualified donations as defined under the settlement agreement, which included some $143,000 in contributions delivered directly to the college during the relevant period. Thereafter, the organization delivered an additional $250,000 to the college prior to year's end. The organization did not engage in any fundraising in 2016 and has ceased operations. All remaining funds will be delivered to the college in 2016 after tax filings are complete.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 46
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 69th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.3%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 97; 97th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 96.5% of revenue deployed · 98.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $14.2M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $1.8M reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 49/100.