United Food and Commercial Workers Ufcw Local 880 Scholarship Fund

What it reported doing in 2024

Scholarships granted to 7 individuals paid in installments of $1,000: selection terms and conditions: scholarship recipients are chosen in two ways: (1) the vast majority of scholarships are awarded to applicants who have applied for a scholarship from the international union's scholarship program. Each such applicant must comply with the rules and regulations established by the international union scholarship program. They must send their completed applications directly to the international union's scholarship program for processing. Once the international union's scholarship committee has evaluated all applications received, it sends the ranked results (and supporting materials) for those applicants within local 880's jurisdiction to the local 880 scholarship fund trustees. These materials and rankings from the international are reviewed by the local 880 scholarship fund trustees, and if the trustees agree with the rankings, then scholarships are awarded to the top three applicants from the cleveland area, two applicants from the akron-canton area, and one applicant from the youngstown area. If the trustees do not agree with the rankings from international, the trustees may revise the rankings and those applicants who will be selected to receive scholarships. Furthermore and if there are insufficient applicants in a geographical area (cleveland, akron-canton or youngstown), then a selection will be made from the other two areas based upon the analysis and evaluation of the trustees. (2) on occasion, the scholarship fund trustees will award scholarships to deserving applicants who were not the highest ranked by the international and to deserving applicants who applied solely to local 880. In these cases need and commitment to the union movement are the primary considerations for an award rather than scholastics.notification and follow up terms and conditions: the scholarship fund trustees notify the successful applicants of their selection. Each applicant must complete and sign a scholarship acceptance agreement and a verification of enrollment form. The scholarship fund trustees annually verify continued enrollment and scholastic achievement. A verification of enrollment form signed by a college or university official must be received by the scholarship fund to prove the grantee remains enrolled. The trustees also check the union's membership database to confirm the continued membership status of the recipient or a parent.

Financial Efficiency

• Mission deployment rate: 32.3%; rating input score 32
• Program expense ratio: 98.2%; rating input score 98
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Pass
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
• Governance controls: 2 of 9 controls in place; rating input score 29
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Limited
  • Other executive compensation review process: Limited
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 77.7%; rating input score 96; 96th percentile among comparable filings
• Total-asset coverage ratio: 36.46; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 462.5%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: 8% per year; rating input score 100; 72nd percentile among comparable filings
• Revenue growth: 8.3% per year; rating input score 100; 84th percentile among comparable filings
• Asset growth: 7.1% per year; rating input score 100; 73rd percentile among comparable filings