Yale Club and Scholarship Foundation of Hartford Inc

Nonprofit profile at a glance

EIN
066056931
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
West Hartford, CT, USA
Phone
8602645774
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$80,196
Expenses
$55,849
Assets
$592,211
Liabilities
$0

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

Leadership & pay

22 people listed

Executive titles in this filing

  • Eric Fleischmann (President)
  • Katherine McCormack (Vice President)

People named in this filing

  • Eric Fleischmann (President)
  • Katherine McCormack (Vice President)
  • Adam P Cohen (Treasurer)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Club's mission includes providing an organization through which alumni of Yale and residents of the Greater Hartford areas may contribute to the welfare of Yale University; facilitating, initiating, sponsoring and participating in programs and projects aimed at developing and maintaining mutual understanding between Yale, its alumni and residents of northern Conn., participating in the raising of funds for the benefit of Yale; participating in the raising of funds in order to establish and award scholarships for the benefit of students who are residents of or attended secondary schools in northern Conn., and encouraging the enrollment of qualified students in Yale. In the past four years the Club's catchment area has expanded to include alumni of the former Yale clubs of Eastern Connecticut, Bristol, Northwestern Connecticut and New Britain. The Club now covers northern Connecticut from the New York border to the Rhode Island border.The Yale Club and Scholarship Foundation of Hartf

What it reported doing in 2024

Event expenses - Club events and meetings. Many event expenses are offset by revenues from the events and transfers from an endowed fund. The Club held its biennial post-election dinner and discussion, its annual meeting and dinner with a Yale faculty speaker and several other events. The Club arranged three All-Ivy social events, to which it invited alumni of other ivy league colleges and universities. The Club hosted a speaker on the Ukraine-Russia conflict via Zoom.The Club's events returned to mostly in-person format. There are approximately 150 members and others who attend events as guests. Many local alumni receive emails and annual mailings from the Club. Total expenses - $22,594

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 85
  • Accountability: 70
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.2%; rating input score 95
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: $10 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 79.6%; rating input score 80; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 30.4%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 10.6; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 14.3% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 95.2% of revenue deployed · 85.9% of spending went to programs
  • Governance: 22 of 22 board members independent · 2 of 7 filing controls reported
  • Programs: 7 filed program accomplishments · $48K in reported program spending
  • Leadership: top reported pay $0 · 22 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Governance controls: 4 of 6 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.