West Virginia University Alumni Assoc Loyalty Permanent Endowment

Nonprofit profile at a glance

EIN
550450592
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Morgantown, WV, USA
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Alumni Associations

Reported finances

Revenue
$2,084,480
Expenses
$309,330
Assets
$17,652,237
Liabilities
$0

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

Leadership & pay

5 people listed

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

Overview

Mission

Provide scholarships to West Virginia university students

What it reported doing in 2024

The West Virginia university alumni association loyalty permanent endowment fund was established by the West Virginia university alumni association by trust indenture dated 12/31/37. The alumni associaiton is an exempt organization under section 501(c)6 of the irc by exemption letter dated 2/3/53 and the fund is exempt under section 501 (c) of the code by letter dated 11/20/46.the trust indenture directs that the net income from the fund is to be made available to the trust committee which is composed of duly appointed members of the alumni association to be used by the committee to carry out specified purposes of the alumni assoc. Those purposes as specified in the trust indenture are to provide funds for maintenance and administrative expenses at wvu and to provide scholarships at West Virginia university to students selected by the trust committee.

Operating model

Revenue model
Investment-supported. 88% 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

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: 54
  • Transparency & Controls: 94
  • Accountability: 6
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.4%; rating input score 52
  • Program expense ratio: 74.3%; rating input score 74
  • 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; 72nd 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; 3rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 85.2%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 57.07; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 17.8%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -6.3% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 52.4% of revenue deployed · 74.3% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $230K in reported program spending
  • Leadership: top reported pay $55K · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 52/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.