The Perquimans County Schools Foundationinc

Nonprofit profile at a glance

EIN
550788873
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014, Form 990-N 2013
Location
Hertford, NC, USA
Phone
2524265741
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$477,048
Expenses
$400,916
Assets
$1,333,075
Liabilities
$1,752

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

Leadership & pay

3 people listed

Executive titles in this filing

  • CARSON STALLINGS (PRESIDENT)

Highest reported compensation

  • BRENDA LASSITER (SECRETARY/TR): $31,683 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 and support academic achievement and scholarly research by students and school employees through scholarship and grant awards.

What it reported doing in 2024

Various projects for perquimans county schools supported such as field trip to livestock show to learn about animals for all second graders with lunch provided, and swimming lessons for all kindergarten students.

Operating model

Revenue model
Donor-supported. 75% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.5%; rating input score 72
  • Program expense ratio: 80.3%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • 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: 16%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 3.33; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 18.5% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 72.5% of revenue deployed · 80.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 1 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $322K in reported program spending
  • Leadership: top reported pay $32K · 3 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.