Simmons College of Kentucky Inc
Nonprofit profile at a glance
- EIN
- 205289168
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Louisville, KY, USA
- Phone
- 5027761443
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- University or Technological Institute
Reported finances
- Revenue
- $20,932,530
- Expenses
- $16,772,721
- Assets
- $28,993,232
- Liabilities
- $8,632,295
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- Kevin Cosby (President)
Highest reported compensation
- Rick W Smith Jr (VP-Inst Ad & Admin): $160,000 total reported compensation
- Javan D Reed (VP Academ Affairs): $152,504 total reported compensation
- Kevin Cosby (President): $143,750 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Simmons College of Kentucky is an institution of biblical higher education dedicated to educating people in the urban context through strong academic and professional programs in order that they may become productive citizens and agents of change in society.
What it reported doing in 2024
Student Affairs: The College provides multiple support services for enrolled students, including counseling, coaching, and advising to promote student persistence and achievement in their educational goals student activities to promote engagement with the college community, including athletics programs, marching band, student government, and co-curricular activities, as well as career development services.
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 93% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 71
- Accountability: 91
- Sustainability: 67
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47.9%; rating input score 48
- Program expense ratio: 59.7%; rating input score 60
- Fundraising efficiency: $141.39 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 19.9%; rating input score 82; 82nd percentile among comparable filings
- Total-asset coverage ratio: 1.73; rating input score 56; 56th percentile among comparable filings
- Liabilities to assets ratio: 0.3; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: 22.9% per year; rating input score 100; 92nd percentile among comparable filings
- Revenue growth: 19.5% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 20.8% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 47.9% of revenue deployed · 59.7% of spending went to programs
- Governance: 21 of 21 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $10M in reported program spending
- Leadership: top reported pay $160K · 26 people listed · 0 of 6 pay-setting controls reported
- Consistency: 34 of 34 current checks pass
- Schedules: 10 filed schedules · includes major donors, grants, and executive pay
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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 48/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 56/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.