Ussac Fund Co Hymes & Associates Cpa Pc

Nonprofit profile at a glance

EIN
202035617
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Bronxville, NY, USA
Phone
9149611200
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$558,454
Expenses
$189,047
Assets
$3,141,582
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MARK PATTERSON (President)

People named in this filing

  • MARK PATTERSON (President)
  • SIMON UPFILL-BROWN (Secretary)
  • RODGER GEEL (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. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

USSAC FUND IS A CHARITY SET UP TO ENDOW EDUCATIONAL SCHOLARSHIPs to certain foreign and domestic colleges, universities and schools. THE FUND ALSO CONTRIBUTES MONIES TO COLLEGES, UNIVERSITIES AND SCHOOLS FOR CAPITAL EXPENDITURES.

What it reported doing in 2020

$181,640 in grants to st. Andrew's college for boxer scholarships and tuition payments.

Operating model

Revenue model
Donor-supported. 90% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 65
  • Accountability: 0
  • Sustainability: 93
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.8%; rating input score 42
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 50%; rating input score 50; 26th 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; 4th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 66.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 16.62; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 41.8% of revenue deployed · 99.3% of spending went to programs
  • Governance: 0 of 4 board members independent · 0 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $188K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • High — Growth: Revenue growth scored 0/100.