The Business and Education Foundation of Morris County Inc

Nonprofit profile at a glance

EIN
222493637
IRS 990 coverage
2020–2020
Forms available
Form 990 2020
Location
Florham Park, NJ, USA
Phone
9735393882
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,751
Expenses
$2,800
Assets
$9,896
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • PAUL A BOUDREAU (PRESIDENT-AS)

People named in this filing

  • BJ AGUGLIARO (TRUSTEE-AS R)
  • PAUL A BOUDREAU (PRESIDENT-AS)
  • DINA M O'KEEFE (CFO-AS REQ'D)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Education: business education is the charitable purpose of the organization. Its mission is to unite business and education in dynamic and effective education programs that create a more work-ready population.

What it reported doing in 2020

Major programs and charitable purpose of each program-a) understanding american business-education-program not active in 2017 curriculum and program methods being updated, b) children's financial literacy-education- program not active in 2017, c) business seminars-education -program exists but not implemented every year-not active in 2017. Understanding american business-the organization provides various educational programs that are designed and related to giving high school students a comprehensive overview of the business environment to the training of educators in new methods and technologies that will assist such educators in teaching their students in the current and expected future business climate.(see additional information on schedule o) the program curriculum and methods of delivering the program benefits are being updated and enhanced in conjuction with a worldwide public accounting firm.the children's financial literacy program-the program addresses the financial literacy at the elementary/middle school level. The program teaches the basics of money, banking, finance, and economics in everyday use. Through the use of books, learning guides, etc., the children learn about money and finance in an interactive environment using all of these methods.business seminars-the business seminars allow the subscribing businesses an opportunity to promote the business acumen of student participants as well as exposure to business in morris county from which they may draw future employees and current customers.the forums are held for all members of the community with speakers discussing a variey of educational topics. The organization also sponsors business seminars and business mentoring programs which promote its mission of education.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 90
  • Accountability: 61
  • Sustainability: 53
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.6%; rating input score 64
  • Program expense ratio: 62.5%; rating input score 62
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 18th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.8%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 3.53; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

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

Details

  • Where the money goes: 63.6% of revenue deployed · 62.5% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.