The Lima Community Foundation

Nonprofit profile at a glance

EIN
346577091
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-PF 2009
Location
Lima, OH, USA
Phone
4192215928
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$8,324,539
Expenses
$785,576
Assets
$15,250,687
Liabilities
$5,446

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Robin Frazier (Executive Director)
  • Beth Keehn (President)
  • Karen A Boitnott (Past President)
  • Everett S Kirk III (Vice President)

Highest reported compensation

  • Robin Frazier (Executive Director): $60,577 total reported compensation

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

Overview

Mission

To promote philanthropy, and provide stewardship and leadership to enhance the use of community resources to meet the needs of Lima's residents.

What it reported doing in 2024

Grants paid to or on behalf of local organizations

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 85
  • Accountability: 69
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14.2%; rating input score 14
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: $123.25 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 82.6%; rating input score 83; 22nd 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 90.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 19.41; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 19.3% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 14.2% of revenue deployed · 81.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $638K in reported program spending
  • Leadership: top reported pay $61K · 10 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 14/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.