Wole Ogunyemi Foundation
Nonprofit profile at a glance
- EIN
- 863935412
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2023
- Location
- Bowie, MD, USA
- Phone
- 2027880585
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $58,810
- Expenses
- $59,150
- Assets
- $4,952
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- Bukola Ogunyemi (Co-Founder/President)
People named in this filing
- Olamide Awodiya (Co-Founder/Director)
- Bukola Ogunyemi (Co-Founder/President)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We work in underserved communities to improve school enrollment and completion rates through outreaches to pupils in primary schools, scholarship opportunities to students in secondary schools, financial aid to undergraduate and post-graduate students, and financial grants to schools and other organizations in the educational sector.
What it reported doing in 2024
School Outreach: Distribution of bags, books, and other learning materials to over 5,000 pupils in 4 states
Operating model
- Revenue model
- Donor-supported. 95% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filed totals do not add up and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 61
- Transparency & Controls: 100
- Sustainability: 30
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 60.5%; rating input score 61
- Program expense ratio: 60.2%; rating input score 60
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -0.6%; rating input score 43; 43rd percentile among comparable filings
- Total-asset coverage ratio: 0.08; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 60.5% of revenue deployed · 60.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $36K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 6 of 7 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- 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.
- Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
- Moderate — Sustainability: Operating margin scored 43/100.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.