Bardeen Partners Inc

Nonprofit profile at a glance

EIN
330465358
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Irvine, CA, USA
Phone
9494535300
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$10,686,103
Expenses
$9,426,499
Assets
$279,126,136
Liabilities
$589,573

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

Leadership & pay

15 people listed

Executive titles in this filing

  • STEVEN LAMAR (VICE PRESIDENT)
  • DOUG REINHART (PRESIDENT)
  • KEVIN BURTON (EXECUTIVE DIRECTOR, TECHNICAL SERVICES)
  • PAUL WEGHORST (EXECUTIVE DIRECTOR, WATER POLICY)
  • WENDY CHAMBERS (EXECUTIVE DIRECTOR, OPERATIONS)

Highest reported compensation

  • PAUL COOK (GENERAL MANAGER): $534,796 total reported compensation
  • PAUL WEGHORST (EXECUTIVE DIRECTOR, WATER POLICY): $381,945 total reported compensation
  • KEVIN BURTON (EXECUTIVE DIRECTOR, TECHNICAL SERVICES): $381,323 total reported compensation

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 promote the common good and the general welfare of the residents, property owners and customers who reside within the boundaries of the irvine ranch water district and the governmental enterprises in the district and the surrounding areas by acquiring real and personal property to the benefit of the district and individuals herein described.

What it reported doing in 2024

Bardeen partners was formed for the purpose of accounting for the financial data and transactions for certain irvine ranch water district real estate investments, including the investments in wood canyon villas, sycamore canyon apartments, and irvine technology center. Bardeen partners is governed by a board of directors consisting of the five members of irvine ranch water district's board of directors. Bardeen partners does not issue separate financial statements.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating revenue.
Distribution model
Affiliate network. The nonprofit sent 99% of its reported program spending through affiliated organizations.

The verdict

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

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 60
  • Accountability: 23
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.8%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.8%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 29.61; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 88.8% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $9.4M in reported program spending
  • Leadership: top reported pay $535K · 15 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.4M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.