The Fund for Olivet Boys & Girls Club

Nonprofit profile at a glance

EIN
832334254
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Reading, PA, USA
Phone
6103731314
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$127,446
Expenses
$147,195
Assets
$2,374,856
Liabilities
$5,280

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

Leadership & pay

4 people listed

Executive titles in this filing

  • RICK PEREZ (CEO AS OF JUNE 2024)

Highest reported compensation

  • RICK PEREZ (CEO AS OF JUNE 2024): $70,000 total reported compensation

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

Overview

Mission

The fund provides support to the olivet boys & girls club to carry out their mission of enabling all young people, especially those most in need, to reach their full potential as healthy, productive, caring, responsible citizens.

What it reported doing in 2024

The fund was established to provide liability protection for the assets of the former mccormick foundation and to ensure that these assets are not exposed to the creditors of olivet or to any liabilities arising from olivet's activities. These assets operate like an endowment-type fund and have been used by the fund to pay an annual distribution to olivet to help support youth programs and services. As the sole member and parent corporation of olivet, the fund exercises governance oversight by approving certain fundamental transactions of olivet. The fund was also established to help further the development capabilities of olivet and possibly make more funding available to support the mission in the community. The fund is to assist olivet with fundraising activities for larger donations such as planned giving and a major gifts program. The fund's development activities are not fully operational.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -15.5%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 16.13; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 75.9% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -34.9% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $147K in reported program spending
  • Leadership: top reported pay $70K · 4 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 17/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.