The Making a Difference with the Friends of Bill Mckoy Foundation

Nonprofit profile at a glance

EIN
510528710
IRS 990-EZ coverage
2012–2024
Forms available
Form 990-EZ 2024
Location
Paterson, NJ, USA
Phone
9732798448
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Gift Distribution

Reported finances

Revenue
$62,693
Expenses
$63,099
Assets
$11,962

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

Leadership & pay

3 people listed

People named in this filing

  • BRENDA MCKOY (TRUSTEE)
  • WILMA BRETT (TRUSTEE)
  • MATTHEW MCKOY (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The organization's primary objective is to make a positive difference in the lives of inner city youth in the city of paterson, New Jersey. The most significant activity is the annual donation of toys to various needy families at two paterson nj housing project sites including, but not limited to the alexander hamilton & riverside terrace housing development sites.

What it reported doing in 2024

On saturday august 2nd, 2024 the 62 annual independence gala, community day celebration was held. The organization also had a community celebration in august with a variety of giveaways. The organization's primary objective is to make a positive difference in the lives of inner city youth in the city of paterson, New Jersey. The organization also provided community assistance including paterson cares, grandparents and relative care, passaic county african american women, inc., one blood domino club, plus assistance to local churches and other non-profit organizations.

Operating model

Revenue model
Donor-supported. 92% 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.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 82
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97%; rating input score 97
  • Program expense ratio: 96.4%; rating input score 96

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -0.6%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 16% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 97% of revenue deployed · 96.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $61K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.