The Degen Foundation
Nonprofit profile at a glance
- EIN
- 710575827
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Fort Smith, AR, USA
- Phone
- 4793082243
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $965,767
- Expenses
- $906,590
- Assets
- $14,818,699
- Liabilities
- $30,228
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- THOMAS WEBB (EXECUTIVE DIRECTOR)
Highest reported compensation
- THOMAS WEBB (EXECUTIVE DIRECTOR): $26,450 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To promote and develop access to and delivery of healthcare services in western Arkansas and eastern Oklahoma, to improve the quality and availability of healthcare services, to facilitate and promote healthcare education, to aid and support established religious or charitable organizations, and to support and facilitate as a supporting organization the educational mission of the Arkansas colleges of healthcare education and the united way of fort smith area, inc.
What it reported doing in 2024
The organization was formed to administer gifts in support of sparks health system and to promote the healthcare services of sparks health system as a supporting organization. Sparks health system assets were sold 11/30/2009 and the organization will assist in distributing, when needed, the proceeds from the sale in support of charitable 501(c)3 organizations in western Arkansas and eastern Oklahoma. On april 18, 2014 the board of sparks passed a resolution to contribute up to $50,000,000 as a restricted contribution in support of developing an institution of health education. The Arkansas colleges of health education (ache) was organized and the balance of the sparks funds were transferred to ache in september 2017. In june 2019, the degen board voted to become a supporting organization to ache while continuing to fund local and religious healthcare related to 501(c)3 organizations and healthcare related student scholarships. During the year ended june 30, 2024, the united way of fort smith area, inc. Was added as a supported organization of the degen foundation.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- 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. Revenue has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 87
- Accountability: 95
- Sustainability: 69
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 83.2%; rating input score 83
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 96.6%; rating input score 97; 44th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: 6.1%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 16.35; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 2.9%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: 17.3% per year; rating input score 100; 79th percentile among comparable filings
- Revenue growth: -25.6% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: 1% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 83.2% of spending went to programs
- Governance: 14 of 14 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $755K in reported program spending
- Leadership: top reported pay $26K · 15 people listed
- Consistency: 21 of 22 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 5 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 — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Operating margin scored 53/100.
- Review — Accountability: Governance controls: CEO compensation review process not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 57/100.