The Floyd and Norma Young Foundation
Nonprofit profile at a glance
- EIN
- 922059747
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990 2023, Form 990-EZ 2024
- Location
- Charlotte, NC, USA
- Phone
- 7045236605
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $11,800
- Expenses
- $49,495
- Assets
- $214,806
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- KEITH J HAYWOOD (President)
- EMERSON HAYWOOD (Vice President)
People named in this filing
- KEITH J HAYWOOD (President)
- EMERSON HAYWOOD (Vice President)
- MARILYN SUTTON- HAYWOOD (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Charitable and educational
What it reported doing in 2024
The Floyd and Norma Young Foundation was established in 2023 to provide scholarships and financial assistance to students interested in and/ or currently attending Historically Black Colleges and Universities.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 82
- Sustainability: 32
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 55.6%; rating input score 56
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -319.4%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 4.34; rating input score 82; 82nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -182.1% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: -16.1% per year; rating input score 0; 12th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 55.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $28K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 6 of 7 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- 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.
- Review — Financial Efficiency: Program expense ratio scored 56/100.
- Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 3/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.