The Fairway Foundation

Nonprofit profile at a glance

EIN
274602866
IRS 990 coverage
2012–2019
Forms available
Form 990 2019
Location
Wood River Junction, RI, USA
Phone
8603054251
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Reported finances

Revenue
$25,108
Expenses
$62,613
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Salvatore J Augeri Jr (President)
  • Eric Dauphinais (Vice President)

People named in this filing

  • Salvatore J Augeri Jr (President)
  • Scott Findeisen (Director)
  • Matthew H Thomsen (Director)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist parents and caregivers by providing a means for individuals with special needs, up to the age of 26, to enrich their daily living. To make non-cash gifts to, and otherwise assist, children (and their families) within the State of RI who suffer from life threatening or very serious diseases, injuries or other maladies.

What it reported doing in 2019

The Foundation has merged with The Maddie Potts Foundation FEIN 82-3605410. The organizations have merged to work towards a common goal.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 91% 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: 87
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 14
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

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: 100%; rating input score 100; 79th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -149.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 28.1% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -10.5% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: -9.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $59K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2012 to 2019
  • Contacts: How to reach this organization
  • 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 4/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.