The Hokie Way Inc

Nonprofit profile at a glance

EIN
883042559
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Salem, VA, USA
Phone
5404442930
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Official website

Reported finances

Revenue
$3,742,787
Expenses
$3,789,644
Assets
$408,637
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • James G Petrine (President)
  • Matthew Sams (Executive Director)

Highest reported compensation

  • Matthew Sams (Executive Director): $109,604 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 Hokie Way supports the active engagement of student-athletes in leveraging their Name, Image and Likeness to amplify the mission of charitable organizations as a way to give back to the community and encourage a new generation of of Virginia Tech athletes.

What it reported doing in 2024

Promote awareness and programs of the partner charity utilizing contract services of a public relations and marketing firm and paid staff that provided online social media content and personal participation by Virginia Tech athletes.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 85
  • Accountability: 79
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.5%; rating input score 99
  • Program expense ratio: 98.2%; rating input score 98
  • Fundraising efficiency: $260.06 raised per $1 spent on fundraising; rating input score 93; 93rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -1.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 76% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 60.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -4.1% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 99.5% of revenue deployed · 98.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $3.7M in reported program spending
  • Leadership: top reported pay $110K · 9 people listed
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.