Adopt a Vet Inc

Nonprofit profile at a glance

EIN
810935163
IRS 990 coverage
2017–2020
Forms available
Form 990 2020, Form 990-N 2016
Location
Acton, ME, USA
Phone
9288215898
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Military, Veterans' Organizations

Reported finances

Revenue
$61,678
Expenses
$80,256
Assets
$603,650
Liabilities
$407,994

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GARY RIDEOUT (PRESIDENT)

People named in this filing

  • ANDREW GOODWIN (SECRETARY)
  • DOROTHY REINERT (TREASURER)
  • GARY RIDEOUT (PRESIDENT)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable and transitional housing for low income veterans or others in need, where no adequate housing exists for such groups, and provide decent, safe, and sanitary housing for low income veterans or others who are homeless or in imminent danger of becoming homelsess or who are displaced from urban renewal areas. Also provide training and educational resources for basic life skills, and placement for veterans or others in need.

What it reported doing in 2020

Provide affordable and transitional housing for veterans and others in need

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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: 86
  • Transparency & Controls: 90
  • Accountability: 56
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 79.4%; rating input score 79
  • Fundraising efficiency: $8 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 75%; rating input score 75; 22nd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: -30.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 7.52; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 45% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -29.9% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 79.4% of spending went to programs
  • Governance: 3 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $64K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2017 to 2020
  • Contacts: How to reach this organization
  • 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.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.