Wayne County Indiana Foundation Inc

Nonprofit profile at a glance

EIN
351406033
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2009
Location
Richmond, IN, USA
Phone
7659621638
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$11,617,560
Expenses
$5,368,059
Assets
$76,818,432
Liabilities
$1,565,509

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

Leadership & pay

15 people listed

Executive titles in this filing

  • REBECCA GILLIAM (EXECUTIVE DIRECTOR)

Highest reported compensation

  • REBECCA GILLIAM (EXECUTIVE DIRECTOR): $147,828 total reported compensation
  • AMY WALTZ (FINANCE OFFICER): $87,655 total reported compensation

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

Overview

Mission

To foster and encourage private philanthropic giving, to enhance the spirit of community, and to improve the quality of life in the wayne county, Indiana, area now and for future generations.

What it reported doing in 2024

Scholarships: the wayne county foundation administers 145 scholarship funds to help qualified students continue their post secondary academic studies at colleges, universities and trade schools in the county, throughout the state, and across the region. In addition to direct support for those students selected, the foundation's scholarships serve to encourage all students to do well in their studies. Foundation scholarships include awards for specific courses of study at identified institutions of higher learning, as well as a number of less restrictive awards to support general studies.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 88% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55%; rating input score 55
  • Program expense ratio: 70.3%; rating input score 70
  • Fundraising efficiency: $38.35 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97%; rating input score 97; 27th 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 53.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 14.31; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 55% of revenue deployed · 70.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.8M in reported program spending
  • Leadership: top reported pay $148K · 15 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 82 filed money-flow records
  • Related organizations: 80 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 56/100.