Friends Of The Hamilton Schools Foundation Inc

The information for Friends Of The Hamilton Schools Foundation Inc is as of the organization's most recent filing in December '21. This organization is located in Hamilton, MT. It has been in existence for 28 years, following its founding in 1993.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Friends Of The Hamilton Schools Foundation Inc's NTEE code is B80. The "B" tells us that the organization is classified along with Education. The "80" tells us that the organization is focused on Student Services. The NTEE describes Student Services organizations as those that provide services, facilities, and programs that support student needs, foster student learning and personal development, create a healthy and diverse community, and enrich student life.

Every organization is also governed by a specific section of the Internal Revenue Code. This organization happens to be a 501(c)(3) organization. The IRS describes these organizations as those engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Friends Of The Hamilton Schools Foundation Inc is to support the non-funded needs of the Hamilton Schools system.

Program Areas

Program Area 1: Within the general fund, the organization pays out forty-four scholarships to colleges and universities throughout the nation. These scholarships are funded by earnings on the funds received from various contributors since 1993. The scholarships are awarded based on criteria that were established when the funds were collected.

Program Area 2: Thirty grants were paid out to provide the necessary funds for special projects in the Hamilton Schools System that were not funded within the normal schools operating budgets and continuing education for teachers.

Organization Staffing

Friends Of The Hamilton Schools Foundation Inc is run by Becky Brough, who is the President of the organization. The organization does not have any employees and no one is paid over $100k per year. However, they have 13 volunteers who support the foundation's work.

Board Governance

Friends Of The Hamilton Schools Foundation Inc appears to be well-governed based on the provided information. The organization has a total of 11 voting members, all of whom are independent, indicating a diverse and unbiased decision-making process. The absence of potential conflicts of interest further strengthens the organization's governance structure, ensuring that decisions are made in the best interest of the foundation and its beneficiaries. The fact that the organization has not delegated management to an outside firm suggests that it maintains direct control over its operations and decision-making processes. Additionally, the documentation of board meetings indicates transparency and accountability within the organization, allowing for a clear record of discussions and decisions made. While committee meetings are not documented, the presence of a conflict of interest policy and the requirement for disclosure of conflicts further demonstrate the organization's commitment to ethical conduct and avoiding any potential conflicts that may arise. However, it is worth noting that the organization does not have a written whistleblower policy or a document retention policy, which could be areas for improvement in terms of governance and risk management. The organization's failure to substantiate and review leadership and officer's salaries, as well as the lack of provision of copies of the 990 to the board prior to filing, may raise questions regarding financial transparency and oversight. These aspects could be improved to enhance the organization's governance practices and ensure that the financial resources are being utilized effectively and in line with the organization's mission. Overall, Friends Of The Hamilton Schools Foundation Inc demonstrates several positive aspects of governance, such as a diverse and independent board, transparency in board meetings, and the presence of a conflict of interest policy. However, there are areas where improvements can be made, particularly in terms of financial transparency and risk management policies.

Organization Growth

Based on the given information, it can be concluded that the nonprofit organization Friends Of The Hamilton Schools Foundation Inc has experienced mixed growth over the given time period. Contributions & Grants Received decreased from $141.8K in 2018 to $24.9K in 2021, indicating a decline in financial support. However, Investment Income increased from $185.2K in 2018 to $230.4K in 2021, suggesting an improvement in the organization's investments. Total Revenue decreased from $326.9K in 2018 to $255.3K in 2021, indicating a decline in overall income. On the other hand, Grants Paid increased from $94.6K in 2018 to $112.3K in 2021, demonstrating an increase in the organization's distribution of funds. Total Expenses also increased from $141.0K in 2018 to $157.6K in 2021, indicating higher expenditures. The number of Total Volunteers remained the same at 13 throughout the time period. Overall, while some aspects of the organization's growth have been positive, such as investment income and grants paid, other areas, such as contributions and total revenue, have shown a decline.