The Red Sox Foundation Inc

What it reported doing in 2024

Red sox scholars - the red sox scholar program provides mentoring, enrichment opportunities, and college scholarships to more than 300 academically talented low-income students selected in boston's public schools when they are in 7th grade. The scholars work with the red sox foundation staff through high school. The goal is to ensure these at-risk students escape the inner city's high school dropout rate and instead graduate from high school and are prepared to attend college. The program provides each student the promise of a scholarship of $10,000-pending enrollment in an accredited college and citizenship. The scholarships are paid directly to the college of choice, and not to the students or family members. The red sox scholars also participate in special activities at fenway park including attending red sox games, community service, events with players and their wives, skills building, job fairs (for high school students) and college prep classes. In 2010, the red sox scholars' program was nationally recognized when the team won the first-ever commissioner's award for philanthropic excellence specifically for the red sox scholars' program. Service scholars - the new england red sox service scholarships award college scholarships to public high school seniors across new england who demonstrate academic excellence and a commitment to community excellence and a commitment to community service. The Florida red sox service scholarships award college scholarships to public high school seniors across southwest Florida who demonstrate academic excellence and a commitment to community excellence and a commitment to community service.

Financial Efficiency

• Mission deployment rate: 75.4%; rating input score 75
• Program expense ratio: 88.8%; rating input score 89
• Fundraising efficiency: $19.69 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 71.7%; rating input score 72; 14th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 55.6%; rating input score 56; 9th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 16%; rating input score 78; 78th percentile among comparable filings
• Total-asset coverage ratio: 2.57; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 9.2%; rating input score 24; 24th percentile among comparable filings

Growth

• Program expense growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings