The Fund for Schools and Communities

Nonprofit profile at a glance

EIN
204095150
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
San Francisco, CA, USA
Phone
4157229094
Rating confidence
Limited
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$505,440
Expenses
$757,054
Assets
$756,734
Liabilities
$1,343,338

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

6 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fund for schools and communities plans to make and acquire loans to borrowing entities that own or lease facilities for the operation of charter schools within the state of California.

What it reported doing in 2011

The fund for schools and communities' (fsc) purpose is to make charter school financing more widely available and on more flexible terms than currently available through conventional financing sources. Fsc will provide loans to charter schools because charter schools offer a promising alternative to traditional public schools, particularly in the low income communities that are most underserved by the tradiational public school system.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -49.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 1.78; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.2% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -171.7% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $757K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2010 to 2011
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.