William Mac Mccormick Memorial Foundation

Nonprofit profile at a glance

EIN
232043899
IRS 990 coverage
2012–2019
Forms available
Form 990 2019
Location
Reading, PA, USA
Phone
6103731314
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$105,523
Expenses
$12,157
Assets
$1,978,919
Liabilities
$36,569

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • CHRIS WINTERS (PRESIDENT/CEO AS OF JUNE)

Highest reported compensation

  • CHRIS WINTERS (PRESIDENT/CEO AS OF JUNE): $61,759 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To perpetuate the memory of william (mac) mccormick, founder of the olivet boys clubs and further to accept gifts, bequests, legacies and devises and to hold and manage, the same pursuant to the provisions of the by-laws of the foundation, and under the authority of the board of trustees, and further to aid, benefit, care for, maintain, protect, educate, support and provide character development, physical training, and recreational facilities for such worth-while youths, who are members of the olivet boys & girls club of reading and berks county, Pennsylvania or any successor thereof, as in the opinion of the board of trustees shall be deserving of assistance through whatever means as said trustees shall deem advisable.

What it reported doing in 2019

Providing support to the olivet boys & girls club to carry out their mission of enabling all young people, especially those who need us most, to reach their full potential as healthy, productive, caring, responsible citizens.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 82
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23.5%; rating input score 24
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 88.5%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 162.78; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -16.7% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 23.5% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $62K · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2012 to 2019
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 24/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.