Three Rivers Promise

Nonprofit profile at a glance

EIN
834569361
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Three Rivers, MI, USA
Phone
8448737326
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$146,562
Expenses
$41,814
Assets
$686,129
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • THOMAS J LOWRY (PRESIDENT)

People named in this filing

  • THOMAS J LOWRY (PRESIDENT)
  • MICHAEL ELDRIDGE (VICE PRESIDE)
  • BURCH RUESINK (SECRETARY)

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 raise funds and assist with tuition/training costs for qualifying graduates of three rivers public schools. Funds will be dispensed when endowment reaches 3,000,000.

What it reported doing in 2024

Organization is raising funds to establish an endowment for the purpose of assisting qualified graduates of the three rivers, Michigan public schools with post secondary school education and/or vocational training. Initial goal for the endowment is 3,000,000 at which time the fund will begin the tuition and training assistance.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 9
  • Transparency & Controls: 86
  • Accountability: 70
  • Sustainability: 90
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.4%; rating input score 6
  • Program expense ratio: 11.4%; rating input score 11
  • Fundraising efficiency: $3.23 raised per $1 spent on fundraising; rating input score 14; 14th 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: Limited
  • 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: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 71.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 16.41; rating input score 94; 94th 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: -11.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -16.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 28.1% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 6.4% of revenue deployed · 11.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 6/100.
  • High — Financial Efficiency: Program expense ratio scored 11/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.