The Pearl Foundation of the Greater Clinton Area

Nonprofit profile at a glance

EIN
872509430
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Clinton, TN, USA
Phone
8652936367
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$227,530
Expenses
$207,209
Assets
$75,881
Liabilities
$1,646

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

Leadership & pay

16 people listed

Highest reported compensation

  • KATHERINE BIRKBECK (PROGRAM DIRECT): $55,650 total reported compensation

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

Overview

Mission

Enhance & preserve the historic downtown clinton, tn area by promoting local businesses and community development.

What it reported doing in 2024

Restoration and rehabilitation of the downtown area - welcome to clinton sign/landscaping, arts festival, flower baskets throughout the downtown area, greenspace inititiative, cornstalks, lanterns, christmas lights in downtown area, seasonal events including spring antique festival, christmas in july, sip of summerfest, and fall antique festival. We impact 10,000 residents of clinton, with most events benefiting 3,000 - 5,000 people, while our antique festivals are likely to draw in 10,000 - 12,000.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 83
  • Accountability: 69
  • Sustainability: 39
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.1%; rating input score 46
  • Program expense ratio: 50.8%; rating input score 51
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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; 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.9%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 26.9%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 14.6% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -5.4% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 46.1% of revenue deployed · 50.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $105K in reported program spending
  • Leadership: top reported pay $56K · 16 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Mission deployment rate scored 46/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.