THE FOUNDATION FOR THE MALCOLM BALDRIGE NATIONAL QUALITY AWARD INC

EIN: 592891462 501(c)(3)

WASHINGTON, DC

Total Revenue
$602,336
Total Expenses
$716,557
Total Assets
$19,208
Net Assets
$-10,257
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
DE
Principal Officer
FRANK FUSCO
Phone
2025599195
Tax Period
2024-10-01 to 2025-09-30

THE FOUNDATION FOR THE MALCOLM BALDRIGE NATIONAL QUALITY AWARD INC, founded in 1988, is a small nonprofit that reported $602K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $717K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO ENSURE THE LONG-TERM FINANCIAL GROWTH AND VIABILITY OF THE BALDRIGE PERFORMANCE EXCELLENCE PROGRAM, AND TO SUPPORT ORGANIZATIONAL PERFORMANCE EXCELLENCE IN THE UNITED STATES AND THROUGHOUT THE WORLD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $412,938
Program Service Revenue $0
Investment Income $14,196
Other Revenue $175,202
TOTAL REVENUE $602,336

Expense Breakdown

Grants Paid $28,436
Salaries & Benefits $375,454
Fundraising Expenses $219,726
Program Expenses $289,214
Other Expenses $312,667
TOTAL EXPENSES $716,557

Year-over-Year Comparison

2024 2023 Change
Revenue $602,336 $682,465 -0.1%
Expenses $716,557 $834,188 -0.1%
Net Income $-114,221 $-151,723 -0.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
13
Independent Members
11
Employees
4
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$191,239
Total Directors
13
$191,239
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSH RACETTE PRESIDENT & 40.00
Officer Director
$125,307 $0 $125,307
AL FABER RETIRED PRES 40.00
Officer Director
$65,932 $0 $65,932
GEORGE BENSON PAST CHAIR 3.00
Director
$0 $0 $0
RUSS BRANZELL SECRETARY 3.00
Officer Director
$0 $0 $0
DIANE BROCKMEIER VICE CHAIRMA 3.00
Officer Director
$0 $0 $0
KATHRYN EGGLESTON CHAIRMAN 3.00
Officer Director
$0 $0 $0
FRANK FUSCO TREASURER 3.00
Officer Director
$0 $0 $0
KEVIN LEE DIRECTOR 3.00
Director
$0 $0 $0
S PADMANABHAN DIRECTOR 3.00
Director
$0 $0 $0
JOHN RAFFOUL DIRECTOR 3.00
Director
$0 $0 $0
TONY SCOTT DIRECTOR 3.00
Director
$0 $0 $0
DAVID SPONG DIRECTOR 3.00
Director
$0 $0 $0
RULON STACEY DIRECTOR 3.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $512,953 $251,285 $252,404 $261,668
2025 $602,336 $716,557 $19,208 $-114,221
2024 $682,465 $834,188 $125,107 $-151,723
2023 $1,010,498 $1,166,940 $312,592 $-156,442
2022 $1,443,625 $1,734,371 $418,162 $-290,746
2021 $536,089 $1,315,605 $713,833 $-779,516
2020 $1,986,621 $1,288,245 $1,489,217 $698,376
2019 $556,487 $1,687,909 $1,790,469 $-1,131,422
2018 $502,556 $1,505,067 $2,936,589 $-1,002,511
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