The Community Foundation of Louisville Depository Inc

Nonprofit profile at a glance

EIN
311140889
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5025854649
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$25,121,271
Expenses
$23,151,285
Assets
$23,988,915
Liabilities
$374,395

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

Leadership & pay

14 people listed

Executive titles in this filing

  • RONALD GALLO (PRESIDENT & CEO)
  • ALYSSA MANNING (PRESIDENT OF FELIX E. MARTIN JR FDN)

Highest reported compensation

  • RONALD GALLO (PRESIDENT & CEO): $385,160 total reported compensation
  • MATTHEW L BACON (COO & CFO): $292,324 total reported compensation
  • ALYSSA MANNING (PRESIDENT OF FELIX E. MARTIN JR FDN): $181,985 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

Distribute grants and contributions to 501(c)(3) organizations qualifying under section 509(a).

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 72
  • Accountability: 91
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92%; rating input score 92
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 92.6%; rating input score 93; 22nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.8%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 92% of revenue deployed · 99.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.1M in reported program spending
  • Leadership: top reported pay $385K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 421 filed money-flow records
  • Related organizations: 426 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.