Simon Family Foundation

Nonprofit profile at a glance

EIN
541922543
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7576711600
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support
Affiliation
Judaism

Reported finances

Revenue
$477,724
Expenses
$376,706
Assets
$8,355,750
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KIM FINK (PRESIDENT)

Highest reported compensation

  • NAOMI SEDEK (SECRETARY): $212,185 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation is operated exclusively for the benefit of, to perform the functions of, and to carry out the purposes of the tidewater jewish foundation.

What it reported doing in 2024

The simon family foundation's grant-making programs are established with the goal of providing financial and other assistance in support of jewish and non-jewish charitable causes in the fields of religion, education, science, intergroup relations, civic, cultural, health and social services. This has been achieved by providing assistance to individuals and organizations within and without the united states, while providing identifiable benefits for the welfare of the people and geographic areas of tidewater, Virginia and israel.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 64
  • Accountability: 54
  • Sustainability: 77
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 65.3%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 95.9%; rating input score 96; 56th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 28.6%; rating input score 29; 15th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 22.18; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -0.9% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: -15.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 65.3% of spending went to programs
  • Governance: 2 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $246K in reported program spending
  • Leadership: top reported pay $212K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 7 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 29/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.