USIT Foundation
Nonprofit profile at a glance
- EIN
- 812766893
- IRS 990 coverage
- 2022–2022
- Forms available
- Form 990 2022, Form 990-EZ 2021, Form 990-N 2020
- Location
- Houston, TX, USA
- Phone
- 5125224411
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Alumni Associations
Reported finances
- Revenue
- $171,909
- Expenses
- $150,432
- Assets
- $145,223
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
1 person listed
People named in this filing
- HARVEY D POWERS (Trustee)
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 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Foundation supports the USIT student organization and engages its alumni to promote personal and professional growth through active charitable giving.
What it reported doing in 2022
Educational and interactive student organization to promote personal, occupational, and academic growth through active securities investing.
Operating model
- Revenue model
- Donor-supported. 86% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 81
- Accountability: 12
- Sustainability: 60
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85.3%; rating input score 85
- Program expense ratio: 97.4%; rating input score 97
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 81.8%; rating input score 82; 1st percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 91.3%; rating input score 91; 53rd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: Limited
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 12.5%; rating input score 65; 65th percentile among comparable filings
- Total-asset coverage ratio: 0.97; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 77.4% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 19.9% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 85.3% of revenue deployed · 97.4% of spending went to programs
- Governance: 2 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $150K in reported program spending
- Leadership: top reported pay $0 · 1 people listed
- Consistency: 15 of 17 current checks pass · 2 findings to review
- Schedules: 5 filed schedules · includes major donors and grants
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 5 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: Governance controls: 4 of 6 not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.