The Latta Schools Educational Foundation Inc

Nonprofit profile at a glance

EIN
262010653
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Latta, SC, USA
Phone
8437527101
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$214,261
Expenses
$201,254
Assets
$3,870,454
Liabilities
$2,562

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

Leadership & pay

6 people listed

People named in this filing

  • KYLE BERRY (CHAIRMAN)
  • HAROLD KORNBLUT (BOARD MEMBER)
  • LAFON LEGETTE (BOARD MEMBER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the educational environment in the school district area of latta, sc.

What it reported doing in 2024

Scholarships to local students and improvement of the educational environment in the school district of latta, sc

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 68
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.9%; rating input score 81
  • Program expense ratio: 86%; rating input score 86
  • 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: 98.5%; rating input score 99; 58th 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: 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: 6.1%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 19.23; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -13.7% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -13.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 80.9% of revenue deployed · 86% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $173K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 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.

  • 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 — Sustainability: Operating margin scored 53/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.