Vernon College Foundation Incorporated

Nonprofit profile at a glance

EIN
752045268
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Vernon, TX, USA
Phone
9405526291
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$545,322
Expenses
$400,684
Assets
$6,498,636
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MS MICHELLE A ALEXANDER (EXECUTIVE DIRECTOR)
  • DR DUSTY R JOHNSTON (PRESIDENT)

Highest reported compensation

  • DR DUSTY R JOHNSTON (PRESIDENT): $233,360 total reported compensation
  • MS MINDI FLYNN (VP ADMINISTRATION): $115,062 total reported compensation
  • MS MICHELLE A ALEXANDER (EXECUTIVE DIRECTOR): $74,489 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 vernon college foundation, incorporated operates to provide funding for scholarships to students and other grants to vernon college.

What it reported doing in 2024

The foundation provides grants to vernon college for student scholarships and departmental grants. In the current year the foundation provided $364,949 of scholarhip funding and $13,500 of departmental grants to the college.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.7%; rating input score 85
  • Program expense ratio: 94.5%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 76th 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: 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: 26.5%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 16.22; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 84.7% of revenue deployed · 94.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $378K in reported program spending
  • Leadership: top reported pay $233K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.