Truefiduciary Institute
Nonprofit profile at a glance
- EIN
- 832227169
- IRS 990-EZ coverage
- 2019–2019
- Forms available
- Form 990-EZ 2019
- Location
- Reston, VA, USA
- Phone
- 7034682717
- Rating
- 90
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Financial Counseling
Reported finances
- Revenue
- $5,001
- Expenses
- $92,835
- Assets
- $317
- Liabilities
- $40,160
Source: IRS Form 990-EZ. Selected filing: tax year 2019. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- PAUL A PAGNATO JR (CHAIRMAN, PRESIDENT, TREAS)
People named in this filing
- PAUL A PAGNATO JR (CHAIRMAN, PRESIDENT, TREAS)
- NATHANA O'BRIEN SHARMA (DIRECTOR)
- JAMIE MCINTYRE (DIRECTOR)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Truefiduciary institute (the institute) is organized to promote financial literacy and education to college and university students as well as low income families and individuals. The massive transformational purpose of the organization is to positively affect one million lives through financial well-being. The mission of the institute is that all students graduate with an actionable financial plan. The institute will achieve these goals and outcomes in three ways: education, digitization and community building. An additional mission is to provide low-income individuals with low-cost tools and education to engable them to build their own financial plan.
What it reported doing in 2019
The organization was started in october 2018. The expected future program service accomplishments of the organization include: - to provide free access to students of non-profit educational institutions to a learning platform for those interest in the financial services industry.- to provide free investment advisory services to low-income and other individuals who constitute a charitable class under code section 501(c)(3) exclusively through an interactive website.- to educate registered investment advisors (ria's) about truefiduciary standards, which essentially are aimed at eliminating conflicts arising from the receipt of third party payments/benefits.- to seek ria's to be members for an annual membership fee, provided the ria's agree to follow the truefiduciary standards.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 60% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 100
- Sustainability: 2
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 97.3%; rating input score 97
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -1,756.3%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 4; 4th percentile among comparable filings
- Liabilities to assets ratio: 126.69; rating input score 0; 0th percentile among comparable filings
- Officer compensation ratio: 27.6%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 97.3% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $90K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 4/100.
- High — Sustainability: Liabilities to assets ratio scored 0/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.