Vivid Bainbridge Cobb Charitable Trust

Nonprofit profile at a glance

EIN
581875572
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9197848321
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Named Trusts N.E.C.

Reported finances

Revenue
$1,133,180
Expenses
$170,478
Assets
$3,979,398
Liabilities
$0

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

Leadership & pay

3 people listed

Highest reported compensation

  • WILLIAM J BLANTON (TRUSTEE): $46,587 total reported compensation
  • STEPHEN H TERRY (TRUSTEE): $5,000 total reported compensation
  • KRISTA YOUNG (TRUSTEE): $5,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Contribute exclusively to charitable, religious, scientific, literary or educational purposes to organizations authorized to carry on these activities.

What it reported doing in 2024

Distribution to edenton street united methodist church fbo bainbridge cobb scholarship fund already established.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 93
  • Accountability: 63
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.3%; rating input score 52
  • Program expense ratio: 31.3%; rating input score 31
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 85%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 23.34; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 33.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 19.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 52.3% of revenue deployed · 31.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $53K in reported program spending
  • Leadership: top reported pay $47K · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 3 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 31/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 6/100.