The Ispe Foundation Inc

Nonprofit profile at a glance

EIN
611856137
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2017
Location
Tampa, FL, USA
Phone
8139602105
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$656,011
Expenses
$516,458
Assets
$500,564
Liabilities
$0

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

Leadership & pay

21 people listed

Executive titles in this filing

  • THOMAS HARTMAN (PRESIDENT & CEO (OUTGOING 2024))
  • MICHAEL RUTHERFORD (INTERIM CEO)

Highest reported compensation

  • THOMAS HARTMAN (PRESIDENT & CEO (OUTGOING 2024)): $397,221 total reported compensation
  • MARK HERNICK (CHIEF FINANCIAL & OPERATING OFFICER): $316,857 total reported compensation
  • TORI JOHNSON (DIRECTOR, DEVELOPMENT & FOUNDATION OPERATIONS): $179,613 total reported compensation

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

Overview

Mission

Fueling global health equity by fostering access to knowledge and nurturing diverse talent.

What it reported doing in 2024

The ispe foundation provides grants and scholarships to a diverse group of candidates in support of the future of the industry through education, training and awards programs.

Operating model

Revenue model
Affiliate-supported. 65% of the money available for current operations came from contributions from related organizations.
Distribution model
Multi-channel. The nonprofit split its reported program spending across 48% for direct work, 29% for grants, and 23% for affiliated organizations.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 23
  • Transparency & Controls: 71
  • Accountability: 86
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23.4%; rating input score 23
  • Program expense ratio: 29.7%; rating input score 30
  • Fundraising efficiency: $1.83 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98%; rating input score 98; 46th percentile among comparable filings
  • 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.3%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 20.8% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 28.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 15.6% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 23.4% of revenue deployed · 29.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $153K in reported program spending
  • Leadership: top reported pay $397K · 21 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • 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 — Financial Efficiency: Mission deployment rate scored 23/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 30/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.