Algae Biomass Organization

Nonprofit profile at a glance

EIN
262691686
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
8775315512
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$376,631
Expenses
$354,824
Assets
$13,406
Liabilities
$73,757

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • MIKE LAMONT (PRESIDENT)
  • MARTIN GROSS (PAST-PRESIDENT)
  • JON KALLEN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JON KALLEN (EXECUTIVE DIRECTOR): $49,538 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

Abo hosted the annual algae biomass summit in october 2024 in houston, Texas. The event featured multiple keynote speakers as well as breakout sessions with dedicated tracks. The summit also includes exhibitors and poster sessions. The algae biomass summit has become the most renowned algae conference in the world attracting leaders from all fields of this dynamic industry.

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 85
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.9%; rating input score 66
  • Program expense ratio: 70%; rating input score 70
  • Fundraising efficiency: $4.32 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 91.7%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.8%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 5.5; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 14%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: -10.8% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -7.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -19.2% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 65.9% of revenue deployed · 70% of spending went to programs
  • Governance: 11 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $248K in reported program spending
  • Leadership: top reported pay $50K · 13 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Fundraising efficiency scored 19/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.