Tvec Charitable Foundation Inc

Nonprofit profile at a glance

EIN
455548476
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Kaufman, TX, USA
Phone
9729322214
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Official website

Reported finances

Revenue
$450,758
Expenses
$479,450
Assets
$77,798
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JEFFREY LANE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JEFFREY LANE (EXECUTIVE DIRECTOR): $525,881 total reported compensation
  • PAUL WEATHERFORD (DIRECTOR): $30,283 total reported compensation
  • HOWARD TILLISON (CHAIRMAN): $12,150 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the foundation is the accumulation and disbursement of funds for charitable purposes in the counties comprising the service territory of trinity valley electric cooperative, inc.

What it reported doing in 2024

Grants to 132 not-for profit organizations benefiting individuals, families and groups in the trinity valley electric cooperative service territory, in accordance with 501 ( c ) ( 3 ) guidelines.

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 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and program spending has grown recently. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 48
  • Accountability: 32
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 22.5%; rating input score 23; 39th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.4%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 36.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.2% of spending went to programs
  • Governance: 0 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $476K in reported program spending
  • Leadership: top reported pay $526K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 13 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 23/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 8/100.