T2 Foundation

Nonprofit profile at a glance

EIN
270899435
IRS 990 coverage
2014–2019
Forms available
Form 990 2019
Location
Scranton, PA, USA
Phone
5705586100
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$363,546
Expenses
$389,459
Assets
$11,277
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Thomas Karam (President)
  • Phil Gross (Vice President)

Highest reported compensation

  • MARINA KNIGHT (DIRECTOR): $58,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide funds to cover expenses and subsidize costs of training & development for qualified athletes participating in Olympic sports, including Alpine, cross-country, freestyle, or freeskiing disciplines.

What it reported doing in 2019

Funds used to foster national & international sports competition in accordance with the foundation's mission.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - 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: 71
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.4%; rating input score 82
  • Program expense ratio: 76.9%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.2%; rating input score 98; 55th 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: 2 of 8 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.1%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 15%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: -41.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -53.4% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 82.4% of revenue deployed · 76.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $300K in reported program spending
  • Leadership: top reported pay $58K · 6 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2014 to 2019
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.