Acquilus Condominium Assn Inc

Nonprofit profile at a glance

EIN
201428308
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Jacksonville Beach, FL, USA
Phone
9043392062
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$860,195
Expenses
$644,939
Assets
$608,210
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • WAYNE FORET' (PRESIDENT/D)

People named in this filing

  • WAYNE FORET' (PRESIDENT/D)
  • JOHN WRIGHT JR (SECRETARRY/O)
  • JERRY RICHTER (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Administer the operation and management of 48 condominiums known as acquilus condominiums

Operating model

Revenue model
Membership-supported. 96% of the money available for current operations came from membership dues.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 1
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 68
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.8%; rating input score 1
  • Program expense ratio: 0.5%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 25%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 0.8% of revenue deployed · 0.5% of spending went to programs
  • Governance: 48 of 48 board members independent · 1 of 7 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • 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 1/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.