Steel Founders' Society Foundation
Nonprofit profile at a glance
- EIN
- 364389361
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024
- Location
- Crystal Lake, IL, USA
- Phone
- 8154558240
- Rating
- 53
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Private Independent Foundations
Reported finances
- Revenue
- $25,112
- Expenses
- $11,591
- Assets
- $380,188
- Liabilities
- $37
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- MAX HOLMAN (IMMEDIATE PAST PRESIDENT)
- ROBERT HARRISON (PRESIDENT)
- JOHN CORY (VICE PRESIDENT)
- RAYMOND MONROE (EXECUTIVE VICE PRESIDENT)
Highest reported compensation
- RAYMOND MONROE (EXECUTIVE VICE PRESIDENT): $525,623 total reported compensation
- KELLY MORITZ (TREASURER): $337,533 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 objects and purposes of the corporation shall be exclusively charitable, scientific, literary, and educational within the meaning of section 501(c)(3) of the internal revenue code, including but not limited to supporting educational activities, funding scholarships for students to study engineering, providing support for engineering work study programs, making grants to support scientific research in such areas as basic physics concerning solidification and flow ofmelted metals, and engineering properties of castings for design. The purpose of the corporation shall be to support steel founders' society of america and any organizations within a class of organizations serving the mission of steel founders' society of america.
What it reported doing in 2024
Providing support for engineering work study programs, making grants to support scientific research in such areas as basic physics concerning solidification and flow of melted metals, and engineering properties of castings for design.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
MIXED - Most voting board members are independent and the filed numbers largely add up. 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: 26
- Transparency & Controls: 60
- Accountability: 91
- Sustainability: 72
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 25%; rating input score 25
- Program expense ratio: 34.5%; rating input score 35
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th 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: 53.8%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 32.8; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 37; 37th percentile among comparable filings
- Officer compensation ratio: 758.9%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: -7.1% per year; rating input score 0; 34th percentile among comparable filings
- Revenue growth: 1.6% per year; rating input score 100; 66th percentile among comparable filings
- Asset growth: 5.8% per year; rating input score 100; 69th percentile among comparable filings
Details
- Where the money goes: 25% of revenue deployed · 34.5% of spending went to programs
- Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $4K in reported program spending
- Leadership: top reported pay $526K · 6 people listed · 0 of 6 pay-setting controls reported
- Consistency: 16 of 16 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 8 filing years from 2017 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 25/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Financial Efficiency: Program expense ratio scored 35/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 1/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 37/100.