Swanc Inc

Nonprofit profile at a glance

EIN
631144071
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fairfield, AL, USA
Phone
2054254401
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$42,317
Expenses
$37,979
Assets
$1,112,612
Liabilities
$6,439

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Seth Skalnik (Director / Corp Vice President)

People named in this filing

  • Lowell Atcheson (Director / Corp Assist Secretary)
  • Eleanor Beavers (Director / Corp Assist Bus Manager)
  • Kathy Brooks-Stegall (Director / Corp Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Post Secondary Educational Funding

What it reported doing in 2024

Prepaid Affordable College Tuition Grants (P.A.C.T.s) Number of Students Benefited (1)

Operating model

Revenue model
Donor-supported. 98% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.1%; rating input score 81
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.3%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 29.3; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 31.9% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -3.6% per year; rating input score 0; 47th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 81.1% of revenue deployed · 90.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $34K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.