The Altum Fund

Nonprofit profile at a glance

EIN
991522072
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
New Haven, CT, USA
Phone
8663209275
Rating
45
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$25,240,020
Expenses
$336,821
Assets
$24,925,448
Liabilities
$22,249

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JAMES N PERRY JR (CHAIRMAN & PRESIDENT)
  • ANTHONY PIENTA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANTHONY PIENTA (EXECUTIVE DIRECTOR): $163,906 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 corporation shall support and benefit kccf by conducting and supporting religious, charitable, educational, and other activities that carry out the religious purposes of kccf. Further, this corporation is spiritually and philosophically united to the knights of columbus and their founding principles of charity, unity, and fraternity.

What it reported doing in 2024

Grant activities in furtherance of the corporations exempt purposes.

Operating model

Revenue model
Donor-supported. 92% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 87
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0.6%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 6th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 98.7%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 74; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 48.7%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $164K · 4 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 6 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.