Shred Foundation

Nonprofit profile at a glance

EIN
471612775
IRS 990 coverage
2022–2022
Forms available
Form 990 2022, Form 990-EZ 2020, Form 990-N 2019
Location
Troy, NY, USA
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$121,922
Expenses
$108,573
Assets
$117,725
Liabilities
$90,000

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • DANNY HAIRSTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DANNY HAIRSTON (EXECUTIVE DIRECTOR): $80,385 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Programs for underpriveledged youth

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 81
  • Accountability: 74
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 8th 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 10.9%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 74%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 9.6% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 75.7% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $109K in reported program spending
  • Leadership: top reported pay $80K · 1 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.