Anthony M Varvaro Believe Foundation Inc

Nonprofit profile at a glance

EIN
884411058
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Staten Island, NY, USA
Phone
9177231460
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$292,766
Expenses
$145,619
Assets
$151,147
Liabilities
$4,000

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

Leadership & pay

1 person listed

Executive titles in this filing

  • James Thomson (President)

People named in this filing

  • James Thomson (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the organization is to support individuals and families facingunexpected tragedy, as well as to enhance the quality of youth sports in Anthonys community ofStaten Island, NY. The Organization supports the community through emergency grants, specialneeds assistance and donations to support local youth sports programs.

What it reported doing in 2024

The Organization supports the community through emergency grants, special needs assistance and donations to support local youth sports programs.

Operating model

Revenue model
Other-operating. 64% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 88
  • Accountability: 36
  • Sustainability: 68
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.3%; rating input score 46
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 50.3%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 46.3% of revenue deployed · 93% of spending went to programs
  • Governance: 0 of 1 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $135K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.