Truman Heartland Community Foundation

What it reported doing in 2024

Truman heartland community foundation (thcf), with $104.7 million in assets, has been a key player in promoting private giving for the public good in suburban eastern jackson, cass, and lafayette county communities for more than 40 years. Once again the foundation saw a record amount of generosity through donor advised fund (daf) grants, competitive grants, and scholarship funds. In 2024, the total grants and scholarship payments from all funds totaled nearly $9 million, marking a $1.6 million increase from the previous year. In 2024, thcf achieved a new record in scholarships with awards of $828,000 to 334 students in our community from 169 scholarship funds. Scholarships allow students from all walks of life to pursue higher education and, ultimately achieve their career goals. We take great pride in connecting charitable individuals in our community who have a passion for education with students to assist them in achieving their educational dreams. Since the program began in 1982, more than $7.5 million in scholarships have been awarded to students. The foundation's grants committee awarded 64 competitive grants totaling $516,719 to nonprofit organizations in impact areas such as health and welfare; arts, culture, and historic preservation; community betterment; adult/non-traditional and children's education; and Missouri wildlife conservation in 2024. Of the total, $432,156 came from endowed funds held at the foundation, while $84,565 was made available through the foundation's "fill the gap" campaign, which allows current fundholders and other partners to make additional funds available to those organizations not fully funded by the competitive grants process. The jelley fund has grown from a substantial endowed gift of $1.6 million to a $3.1 million fund in eleven years. Despite disbursing more than $1 million in grants, the fund continues to impact the lives of numerous local children through support for innovative programs and projects aimed at assisting underserved youth.in 2024, the foundation launched our affordable housing initiative. At its september meeting the board of directors adopted the recommendations of the affordable housing committee that included the creation of the community first loan fund to provide financing to create affordable housing.the thcf youth advisory council (yac) comprises over 70 students from 11 local high schools. The council provides students with hands-on experience in fundraising, grantmaking, and volunteerism. In 2024, the annual fundraiser, "cosmic caring-changing the universe," successfully raised funds for the yac endowment fund, reaching a balance of over $120,000 for the first time. The students awarded three grants to local nonprofits from their fund totaling $4,089. The students also organized a "fill those trucks" food drive, which collected non-perishable food items to benefit several local nonprofits. Thcf remains committed to promoting private giving for the public good.

Financial Efficiency

• Mission deployment rate: 64%; rating input score 64
• Program expense ratio: 91.3%; rating input score 91
• Fundraising efficiency: $49.62 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 89.9%; rating input score 90; 20th 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; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 41.6%; rating input score 92; 92nd percentile among comparable filings
• Total-asset coverage ratio: 11.98; rating input score 92; 92nd percentile among comparable filings
• Liabilities to assets ratio: 0.21; rating input score 57; 57th percentile among comparable filings
• Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings

Growth

• Program expense growth: 8.6% per year; rating input score 100; 64th percentile among comparable filings
• Revenue growth: 8.8% per year; rating input score 100; 69th percentile among comparable filings
• Asset growth: 10.3% per year; rating input score 100; 66th percentile among comparable filings