The Vicki Soto Memorial Fund Inc

Nonprofit profile at a glance

EIN
461619352
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Stratford, CT, USA
Phone
2036136578
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$143,823
Expenses
$110,393
Assets
$300,670
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DONNA SOTO (PRESIDENT)
  • CARLOS SOTO (VICE PRESIDENT)
  • JILLIAN SOTO (VICE PRESIDENT)

People named in this filing

  • DONNA SOTO (PRESIDENT)
  • CARLOS SOTO (VICE PRESIDENT)
  • JILLIAN SOTO (VICE 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 mission of the vicki soto memorial fund, inc. Is outlined in the four following fundamental principles that honor vicki's legacy: encourage a love of education by supporting teacher led initiatives and educator driven programs. Lead and implement vital literary needs in our local community and our stateenrich student and youth organizations that foster reading, writing, education and teaching opportunitiessupport future educators' potential by awarding four prestigious renewable scholarships annually.

What it reported doing in 2024

Encourage a love of education by supporting teacher led initiatives and educator driven programs.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 82% 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. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 69
  • Accountability: 70
  • Sustainability: 73
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.2%; rating input score 77
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: $25.48 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 19.9%; rating input score 20; 38th 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: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 23.2%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 67; 67th 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: -7.7% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 77.2% of revenue deployed · 84.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $93K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2017 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 — Transparency & Controls: Grant itemization coverage scored 20/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.