The Osman Foundation Inc Fka the Miami Cancer Conference Inc

Nonprofit profile at a glance

EIN
592450554
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chapel Hill, NC, USA
Phone
9543850650
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$31,569
Expenses
$1,176,435
Assets
$0
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • CAROLE T EPSTEIN (VICE PRESIDENT)
  • JACK BURSTINER (PRESIDENT)

Highest reported compensation

  • LOIS OSMAN (SECRETARY/TREASURER): $15,000 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 mission of the osman foundation is to provide assistance to disadvantaged children, helping them to reach their full potential and become contributing citizens of the world.

What it reported doing in 2024

The organization provided assistance to disadvantaged children through the following enrichment programs to all students in k-12 students:1. Reach your potential - a program that teaches communication and confidence-building skills through a series of outdoor, collaborative adventure activities. Students work together to solve problems, make decisions and stretch their boundaries. Over 300 students served.2. Read with me- a kindergarten/1st grade literacy program that utilizes volunteers from the community to build reading relationships with struggling readers. One-on-one assistance is provided, as needed within a school, once a week for 30 minutes during the school day.3. Enrichment summer program - provided one-day adventure up events for chatham county school students in 4th to 7th grades during june 2024. 30 students served.4. Community partnerships - throughout the year, local schools and organizations are selected to receive our support. Examples are as follows: groups are provided complimentary meeting space for their gatherings. Professional training services are provided for educators and community leaders.

Operating model

Revenue model
Investment-supported. 62% of the money available for current operations came from recurring investment income.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 5
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 3.9%; rating input score 4
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,626.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.3%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -7.1% per year; rating input score 0; 34th percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 45th percentile among comparable filings
  • Asset growth: -7.9% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 3.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $46K in reported program spending
  • Leadership: top reported pay $15K · 3 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Program expense ratio scored 4/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.