Second Chances Foundation Inc

Nonprofit profile at a glance

EIN
261510916
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Memphis, TN, USA
Phone
9014122853
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Temporary Housing

Reported finances

Revenue
$354,153
Expenses
$367,646
Assets
$130,747
Liabilities
$800

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

Leadership & pay

8 people listed

People named in this filing

  • ROBIN CLOCHARD (SEC TREAS)
  • WILLY BEARDEN (DIRECTOR)
  • MAC EDWARDS (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

Providing safe affordable alcohol-free and drug-free housing to clients in rehabilitation in the memphis tn regional community.

What it reported doing in 2024

The foundation provided safe and sober housing for men and women during 2023. Each participant is required to work a program of recovery through attendance in a 12-step fellowship program and on-site support meetings. Developed relationships with treatment providers for intensive out-patient programs for addictions

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% 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 - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.9%; rating input score 99
  • Program expense ratio: 95.3%; rating input score 95
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.8%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -3.7% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: -18.5% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 98.9% of revenue deployed · 95.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $350K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 42 of 43 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.