The Peter Frates Family Foundation Inc

Nonprofit profile at a glance

EIN
831680823
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Beverly, MA, USA
Phone
9784075372
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$636,826
Expenses
$529,045
Assets
$533,613
Liabilities
$51,000

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JOHN P FRATES (President)

People named in this filing

  • JOHN P FRATES (Director)
  • JUDITH CRONIN (Director)
  • JEAN PADDOLL (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

To provide support to individuals with an als diagnosis and to support self- identified needs of patients, families and caregivers in their pursuit of fuller richer and more meaningful lives in order to keep their disabled/terminally ill patient at home.

What it reported doing in 2024

Assisting progressed als patients and their families with the cost of home health care.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 88
  • Accountability: 0
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.4%; rating input score 62
  • Program expense ratio: 71.9%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.9%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 23.5% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 36% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 62.4% of revenue deployed · 71.9% of spending went to programs
  • Governance: 0 of 8 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $380K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.