Woodbine Community Foundation

Nonprofit profile at a glance

EIN
311575176
IRS 990 coverage
2017–2022
Forms available
Form 990 2022
Location
Woodbine, IA, USA
Phone
7126472390
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$289
Expenses
$10,816
Assets
$405,872
Liabilities
$29,654

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • PAUL FOUTS (PRESIDENT)

People named in this filing

  • PAUL FOUTS (PRESIDENT)
  • NATE BARRY (VICE-PRESIDE)
  • SUE ASSMAN (SECRETARY/TR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide funding for educational and charitable purposes, programs and institutions, primarly in woodbine, Iowa and the surrounding area, and to provide funding for such other educational and charitable purposes, programs and institutions as the board of directors may deem appropriate from time to time, except as may be restricted. To solicit, receive, manage, invest and use contributions, donations, grants and bequests and the income therefrom for the support purposes. To engage in any and all lawful activities which may be necessary, useful, suitable, desirable or proper for the furtherance, accomplishment, fostering and attainment of any and all of its purposes.

What it reported doing in 2022

Revenue generated from donor advised fund - donated real estate to be used to provide funding for educational and charitable purposes.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.8%; rating input score 84
  • 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; 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 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,642.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 37.53; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 23.8% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -18.5% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $9K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.