Vermilion Campus Foundation

Nonprofit profile at a glance

EIN
411351691
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
ELY, MN, USA
Phone
2182352166
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community or Junior Colleges

Official website

Reported finances

Revenue
$226,315
Expenses
$115,758
Assets
$1,895,115
Liabilities
$207

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DEB MILLER (President)
  • O'NIELL TEDROW (Vice President)

People named in this filing

  • ANNE FOLZ (DIRECTOR)
  • CHAD BOEDEKER (Secretary)
  • COLIN YAHNKE (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote a stronger awareness of and bond between vermilion community college and the communities it serves; and to seek, accept, and administer financial and material gifts for the benefit of the college, its students, and the communities. Primary activities include scholarship awards and support for educational programming.

What it reported doing in 2024

Scholarships and grants to students - recipients are selected by a committee of faculty, support staff, and administrators. Selections are based on info from applications and committee input. The awards are reported to the college financial aid department and generally paid directly to the college to assist with the students' tuition and textbook costs.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 86
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 57
  • Program expense ratio: 79.8%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 48.9%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 16.37; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -5.1% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -15.6% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 79.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $92K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.