Somo Endowment Fund Inc

Nonprofit profile at a glance

EIN
201295769
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2010
Location
Jefferson City, MO, USA
Phone
5736351660
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$131,555
Expenses
$5,235
Assets
$594,056
Liabilities
$1,000

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LARRY LINTHACUM (PRESIDENT/CEO)

Highest reported compensation

  • LARRY LINTHACUM (PRESIDENT/CEO): $218,523 total reported compensation
  • BRIAN NEUNER (CHIEF DEVELOPMENT AND MARK): $141,724 total reported compensation

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

Overview

Mission

Somo endowment fund, inc. (the foundation) was formed by special olympics Missouri, inc. To act exclusively as a supporting organization to special olympics Missouri, inc.

What it reported doing in 2024

The function of the foundation is to raise funds on behalf of special olympics Missouri, inc., in order to allow them to meet their short term goals of providing sports training and athletic competition services to its athletes, located throughout the state, and their long term goals of establishing a viable foundation to provide support to somo and its athletes in the years to come. To this end, somo has substantially increased its capacity to serve individuals through a state-of-the-art training for life campus (tlc). The 34,000 square-foot facility, on 16.5 acres in jefferson city, is centrally located for the 8,390 somo athletes (including athletes, unified partners, young athletes, ucs athletes and ucs unified partners) and many more who are not yet participating in the program. The campus opened in august 2018 and includes indoor facilities and an outdoor training field and trail. The remaining nine acres will include softball, bocce, and tennis courts as well as a letr plaza.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - 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: 14
  • Transparency & Controls: 65
  • Accountability: 85
  • Sustainability: 82
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 1.4%; rating input score 1
  • Program expense ratio: 19.1%; rating input score 19
  • Fundraising efficiency: $27.73 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 96%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 113.48; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 322.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -7.7% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -5% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 1.4% of revenue deployed · 19.1% of spending went to programs
  • Governance: 9 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $219K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 1/100.
  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.