Westminster Kennel Foundation

What it reported doing in 2017

This organization is filing a final short year return for the period january 1, 2017 to october 31, 2017. The board of trustees unanimously resolved that dissolution of the foundation is advisable and in the best interests of the charitable purposes for which the foundation was organized. Accordingly, during the 2016 year and the final short year ended october 31, 2017, management completed the process of liquidation by selling investments in the market and made grants exclusively for charitable, scientific, literary or educational purposes, or for the protection of cruelty to animals. No such payments inured to the benefit of any trustee or any person having a personal or private interest in the activities of the foundation. In 2016, the foundation established the westminster kennel club scholarships funds at five united states veterinary colleges; cornell university, university of Pennsylvania, tufts university, Michigan state university and tuskegee university. Each of the five scholarships was endowed with a $462,000 grant from the westminster kennel foundation. In addition, the foundation made a grant to the humane society of the united states in 2017 in the amount of $58,666. This amount represented the assets remaining in the foundation before liquidation. The foundation was established in 1971 as a charitable foundation organized to provide grants for the benefit of 1)humane education: support of activities which develop knowledge and understanding of the dog; its history, its variety, its uses and contributions, and its proper care. 2)humane work: support of programs related to the protection, health and well-being of dogs, with emphasis of dogs in the urban society, and 3) history, art and memorabilia: organization and support of activities which preserve the lore of the purebred dog and of dog sport in america, both show and field. In addition, the westminster kennel foundation has established the westminster kennel foundation scholarships. In prior years, the scholarships were awarded to students enrolled in qualified veterinarian schools as selected by the foundation and as funds are available. Each selected veterinarian school chose one student for each academic year to be a scholarship recipient;, such choice to be based equally on financial need and the ability of the student. Scholarships were awarded to veterinarian students selected by each of the following universities: (1)cornell university; (2) Michigan state university; (3) tufts university; (4) tuskegee university; (5) university of Pennsylvania; and (6) university of California-davis. Each scholarship award totaled $15,000. Selected students are honored each year at the annual dog show held by the westminster kennel club. The foundation has awarded $1.52 million dollars in scholarships to worthy students since 1990.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 95.1%; rating input score 95
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 5 of 9 controls in place; rating input score 62
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Limited
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -2,415.7%; rating input score 3; 3rd percentile among comparable filings
• Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
• Liabilities to assets ratio: Limited
• Officer compensation ratio: 76.2%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 33.5% per year; rating input score 100; 90th percentile among comparable filings
• Revenue growth: -13.5% per year; rating input score 0; 30th percentile among comparable filings
• Asset growth: -8.3% per year; rating input score 0; 20th percentile among comparable filings