T Thomas Fortune Foundation

Nonprofit profile at a glance

EIN
815308319
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Red Bank, NJ, USA
Phone
7323835483
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$132,664
Expenses
$133,307
Assets
$908,723
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • WALTER GREASON (PRESIDENT EM)

Highest reported compensation

  • GILDA ROGERS (EXECUTIVE DI): $34,588 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 purpose of the t. Thomas fortune foundation is to preserve and further the civil rights and social justice legacy of t. Thomas fortune through community outreach, education and public programming.

What it reported doing in 2024

The t. Thomas fortune foundation was established to fulfill five initiatives: 1. Educate the public about the impact of t. Thomas fortunes life and work as a journalist, writer, and activist on civil rights and african american history. 2. Advocate for human rights and social justice broadly and in response to local, regional, and national issues of the day and on behalf of current economic and human rights issues impacting education and communities. 3. Promote better human relations and journalistic integrity and excellence, especially among the upcoming generations of social justice advocates and truth tellers. 4. Preserve the national historic landmark home of t. Thomas fortune as a cultural center and gathering place for education, research, community engagement, organizing and celebration. 5. Maintain the cultural center through fundraising, and sustain its operation as owner and manager, providing exhibition, research and meeting space for educational programming.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.3%; rating input score 81
  • Program expense ratio: 80.7%; rating input score 81
  • Fundraising efficiency: $19.89 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.5%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 6.82; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 25.9%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 28.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 18.3% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 81.3% of revenue deployed · 80.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $35K · 12 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 57/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 14/100.