Thor Johnson Endowment Trust

Nonprofit profile at a glance

EIN
391791596
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Ephraim, WI, USA
Phone
9208544060
Rating
90
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$476,099
Expenses
$353,448
Assets
$6,752,281
Liabilities
$0

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

Leadership & pay

6 people listed

People named in this filing

  • WILLIAM MILLER (ENDOWMENT CHAIR)
  • PAUL GRUENER (TRUSTEE)
  • DAVID KEEN (TRUSTEE)

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 funds to peninsula music festival, inc. As a supporting organization under irc section 509(a)(3).

What it reported doing in 2024

The thor johnson endowment trust provides operating grants to peninsula music festival, inc., a 501(c)(3) organization. The trust has grown to over $6.4 million since inception. The conservative strategy set by the trustees focuses on long-term stability rather than quick growth which as a strategy, has been very successful.

Operating model

Revenue model
Investment-supported. 78% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.8%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 19.1; rating input score 95; 95th 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: 4.9% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $302K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: Audit committee oversight not reported.