The Jim and Margaret Krum Foundation Inc

Nonprofit profile at a glance

EIN
271777206
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Hilton Head Island, SC, USA
Phone
8436819100
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$258,270
Expenses
$540,614
Assets
$12,373,299
Liabilities
$2,274

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

Leadership & pay

5 people listed

Highest reported compensation

  • EMMY ROONEY (SECRETARY/TREASURER): $122,885 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 Krum Foundation operates exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the Community Foundation of the Lowcountry, Inc. ("Foundation"), a publicly supported organization described in sections 501(c)(3) and 509(a)(1) of the Code. A traditional community foundation founded in 1994, Community Foundation of the Lowcountry, Inc. serves the residents of South Carolina counties: Beaufort, Colleton, Hampton, and Jasper. The Krum Foundation will further its exempt purposes by making grants directly to the Community Foundation and to organizations which are, or could be supported by the Community Foundation consistent with its own charitable purposes. Community Foundation grants are awarded to organizations that work in a variety of charitable areas, including arts & culture, education and youth development, and health and human services. Both the Krum Foundation and the Community Foundation expect to make scholarship grants to individuals.

What it reported doing in 2024

The Foundation's additional program expenses aid the Foundation in aligning their functions with the mission.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.

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: 87
  • Transparency & Controls: 100
  • Accountability: 83
  • Sustainability: 40
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.9%; rating input score 95
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -109.3%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 22.89; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $513K in reported program spending
  • Leadership: top reported pay $123K · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.