Xi Lambda Educational Foundati

Nonprofit profile at a glance

EIN
363765985
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Chicago, IL, USA
Phone
7089330231
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$181,618
Expenses
$119,221
Assets
$546,235
Liabilities
$4,096

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Arndell Ricks (President)
  • Lawrence Holid (Vice president)

Highest reported compensation

  • Rodney Brown (Treasurer): $12,000 total reported compensation

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

Overview

Mission

Provide scholarships to college students and develop younger students to help them become responsible adults

What it reported doing in 2024

Provide scholarships to individual students in amounts between 250

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.

The verdict

MIXED - Revenue comfortably covers expenses and revenue has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 55
  • Accountability: 31
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.8%; rating input score 51
  • Program expense ratio: 55.2%; rating input score 55
  • Fundraising efficiency: $2.62 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.4%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 4.58; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: -47.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 15.5% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 50.8% of revenue deployed · 55.2% of spending went to programs
  • Governance: 0 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $88K in reported program spending
  • Leadership: top reported pay $12K · 15 people listed
  • Consistency: 19 of 21 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 2 filing years from 2023 to 2024
  • 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 — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.