The Harry Kay Charitable Foundation

Nonprofit profile at a glance

EIN
411448610
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
Minneapolis, MN, USA
Phone
6123818820
Rating
47
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$2,867,626
Expenses
$265,812
Assets
$24,264,003
Liabilities
$12,518

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • TOM SANDERS (PRESIDENT AND CHAIRMAN)

People named in this filing

  • TOM SANDERS (PRESIDENT AND CHAIRMAN)
  • BETH LEONARD (DIRECTOR)
  • KRIS MACDONALD (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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

In 1985 the organization had 20 million dollars with a purpose of funding medical organizations, jewish organizations and other worthwhile organizations. Since inception, the harry kay foundation has provided over 50 million dollars to various organizations in the minneapolis-st paul area.

What it reported doing in 2023

Since inception, the harry kay foundation has provided over 50 million dollars to support various organizations in the minneapolis-st. Paul area. The organization donated a combined $111,876 during the current year to two of its supported organizations, the minneapolis jewish federation and st. Paul jewish federation.

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

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 24
  • Transparency & Controls: 59
  • Accountability: 76
  • Sustainability: 98
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18%; rating input score 18
  • Program expense ratio: 42.1%; rating input score 42
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 90.7%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 91.28; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -2.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 18% of revenue deployed · 42.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $112K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 9 filing years from 2014 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Mission deployment rate scored 18/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 42/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.