The Pi Foundation Inc

Nonprofit profile at a glance

EIN
352191048
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Salt Lake City, UT, USA
Phone
8015307400
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$2,732,382
Expenses
$6,301,943
Assets
$32,244,162
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • L S MCCULLOUGH II (PRESIDENT)

People named in this filing

  • L S MCCULLOUGH II (PRESIDENT)
  • GREGORY C ZAUGG (VP/TREASURER)
  • L STANFORD MCCULLOUGH IV (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 pi foundation's mission is to support, encourage, and foster charitable giving. The foundation does this through education, resources, and donor advised funds. The foundation financially supports a wide range of local and national organizations.

What it reported doing in 2024

Donations in the support of 501(c)(3) organizations

Operating model

Revenue model
Investment-supported. 82% of the money available for current operations came from recurring investment income.
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 voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 87
  • Accountability: 24
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.2%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98%; rating input score 98; 34th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: -130.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 5.12; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: -5.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.2% of spending went to programs
  • Governance: 0 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6.1M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 26 filed money-flow records
  • Related organizations: 24 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.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.