Abyc Foundation

Nonprofit profile at a glance

EIN
521596605
IRS 990 coverage
2013–2021
Forms available
Form 990 2021, Form 990-T 2021
Location
Annapolis, MD, USA
Phone
4109904460
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Safety Education

Official website

Reported finances

Revenue
$372,002
Expenses
$109,357
Assets
$1,947,275
Liabilities
$400,204

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • JOHN ADEY (ABYC PRESIDE): $223,185 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support the american boat & yacht council, inc.

What it reported doing in 2021

Provide education scholarships, maintain boat for training, and promote education

Operating model

Revenue model
Affiliate-supported. 80% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 65
  • Accountability: 74
  • Sustainability: 75
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.6%; rating input score 26
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $52.78 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 70.6%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 17.81; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: -3.7% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 25.6% of revenue deployed · 88.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $97K in reported program spending
  • Leadership: top reported pay $223K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2013 to 2021
  • 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 — Financial Efficiency: Mission deployment rate scored 26/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.