Torrance Education Foundation

Nonprofit profile at a glance

EIN
330506936
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Torrance, CA, USA
Phone
3109726970
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$821,716
Expenses
$743,560
Assets
$2,016,108
Liabilities
$271,837

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

Leadership & pay

4 people listed

Executive titles in this filing

  • PATRICK FUREY (President)
  • EMI MORIMOTO (Vice President)

People named in this filing

  • PATRICK FUREY (President)
  • EUNICE LEE (Treasurer)
  • EMI MORIMOTO (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

This foundation is set up to provide financial support to the public schools in the torrance unified school district in order to provide a high quality of public education.

What it reported doing in 2024

Grants given to enhance various educational programs at schools in the torrance unified school district.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 64
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63%; rating input score 63
  • Program expense ratio: 69.3%; rating input score 69
  • Fundraising efficiency: $1.29 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.6%; rating input score 99; 47th 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: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.5%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 2.71; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -6.7% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -2.3% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 63% of revenue deployed · 69.3% of spending went to programs
  • Governance: 18 of 18 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $516K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 29 of 30 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: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.