The Monroe Foundation Inc

Nonprofit profile at a glance

EIN
223236708
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
New Rochelle, NY, USA
Phone
6463938352
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$87,342
Expenses
$169,800
Assets
$2,785,749
Liabilities
$624,169

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

Leadership & pay

8 people listed

Executive titles in this filing

  • STEPHEN JEROME (PRESIDENT)

People named in this filing

  • STEPHEN JEROME (PRESIDENT)
  • OLESIA TIAGI (TREASURER)
  • OLHA PALUCH (DIRECTOR)

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

The monroe foundation assists deserving individuals in their persuit of higher education, emphasizing support of underserved and veteran students and others who are qualififed to attend college but who require additional financial assistance to persue or resume their education. The foundation seeks to help lift financial barriers which, if not addressed, may result in qualified students being unable to continue the path to the attainment of higher education credentials.

What it reported doing in 2024

The distribution of grant funds to institutions of higher education for the provision of scholarships. The educational institutions select qualified individuals for receipt of the scholarships, which defray the costs of education.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 66
  • Sustainability: 41
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 48.3%; rating input score 48
  • Fundraising efficiency: $3.78 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 62.5%; rating input score 62; 21st percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -94.4%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 16.41; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -5.6% per year; rating input score 0; 36th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 59th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 48.3% of spending went to programs
  • Governance: 5 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $82K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Program expense ratio scored 48/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.