The Rackspace Foundation

Nonprofit profile at a glance

EIN
263332818
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
San Antonio, TX, USA
Phone
2103124688
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Corporate Foundations

Official website

Reported finances

Revenue
$149,093
Expenses
$297,549
Assets
$509,342
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • MICHELLE PETERSON (PRESIDENT)

People named in this filing

  • Aimee Marroquin (Treasurer)
  • LINDSEY STICH (SECRETARY)
  • MICHELLE PETERSON (PRESIDENT)

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 rackspace foundation is a 501(c )(3) nonprofit funded entirely by rackspace employees, dedicated to building stronger communities through education - especially in science, technology, engineering, and math (stem). The foundation believes every student deserves access to high-quality learning experiences that inspire curiosity and unlock potential. The foundation invests in programs that meet basic needs while also opening doors to mentorship, creativity, and hands-on stem learning. The foundation takes a community-based, holistic approach to giving. We partner with local organizations to provide donation matching, skills-based volunteerism, and strategic support where it's needed most. By supporting stem in our communities, we help over 10,000 students discover their passions, build confidence, and believe in what is possible.

What it reported doing in 2024

Alexander weinberg - after school chess and family chess nights: weekly chess lessons are held at molly pruitt public library on the roosevelt high school campus. Every thursday after school, a chess master offers smallgroup chess instruction to roosevelt students. Following after school chess, family chess night is open to anyone in the community who is interested in learning more about the game. Funding provides dinner and chess instruction from the chess master. On average, approximately 80 community members between the ages of 5 to 65 attend the program each week. Additionally, all seven supported schools have weekly after school chess programs and biannual chess tournaments. Approximately 200 students are involved in the after school chess programs.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 95
  • Accountability: 88
  • Sustainability: 35
  • Growth: 20

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -99.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 9 filed program accomplishments · $298K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 10 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 — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.