Sky Foundation Inc

Nonprofit profile at a glance

EIN
262720583
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2012
Location
Birmingham, MI, USA
Phone
2483855143
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$596,092
Expenses
$531,393
Assets
$726,304
Liabilities
$25,449

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Shannon Crone (President)
  • Mary Beth Castorri (Vice President)

Highest reported compensation

  • Jody Skonieczny (Executive Dir.): $130,000 total reported compensation

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

Overview

Mission

Sky Foundation, Inc. is dedicated to raising awareness and funding research for the early detection of pancreatic cancer.

What it reported doing in 2024

Sky Foundation funds scientific research for the early detection of pancreatic cancer. They funded three programs including THE MASSACHUSETTS GENERAL HOSPITAL, THE University of Pittsburgh, and DANA-FARBER CANCER INSTITUITE

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 63% of its reported program spending out as grants.
  • 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.6%; rating input score 42
  • Program expense ratio: 45%; rating input score 45
  • Fundraising efficiency: $4.1 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.9%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 24.5%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 41.6% of revenue deployed · 45% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $239K in reported program spending
  • Leadership: top reported pay $130K · 12 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.