Terra College Foundation

Nonprofit profile at a glance

EIN
341650500
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Fremont, OH, USA
Phone
4195592261
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$611,257
Expenses
$948,912
Assets
$7,372,998
Liabilities
$55,284

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

Leadership & pay

17 people listed

People named in this filing

  • THOMAS KERN (BOARD MEMBER)
  • R JEFF JEORG (Vice chair)
  • MIRCEA HANDRU (BOARD MEMBER)

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

The terra college foundation is organized and operated exclusively for educational, charitable, or scientific purposes by conducting and supporting activities which benefit or carry out the educational programs and services of terra community college, including, but not limited to the following: to render financial assistance to the educational programs, service and facilities of terrra state community college, a state institution of higher learning, authorized and existing under chapter 3358 of the state of Ohio. The foundation raises and administers funds to support student scholarships and to purchase instructional laboratory equipment for the learning labs.

What it reported doing in 2024

Solicited contributions to be used for student scholarships and grants at terra community college and program expenses. Provided funds to terra community college for 191 scholarships, equipment purchases and grants.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.7%; rating input score 72
  • Fundraising efficiency: $6.4 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -55.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 7.77; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.7% of spending went to programs
  • Governance: 17 of 17 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $680K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.