Big Rock Foundation Inc

Nonprofit profile at a glance

EIN
562189146
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Morehead City, NC, USA
Phone
2522473575
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$938,635
Expenses
$293,375
Assets
$6,246,726
Liabilities
$0

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

Leadership & pay

18 people listed

Executive titles in this filing

  • JOY BELL (VICE PRESIDENT)
  • TOMMY BENNETT (PRESIDENT)

People named in this filing

  • DALE BRITT (DIRECTOR)
  • RICHARD CROWE (DIRECTOR)
  • RANDY RAMSEY (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organizations primary exempt purpose is raising funds for charities and worthy community projects to promote conservation among sportsfishermen and preserve maritime culture and heritage while promoting marine education.

What it reported doing in 2024

The organization was able to donate back to local core charities $139,500. These charities represent a diverse group of organizations throughout carteret county and North Carolina. The boys and girls club of the coastal plains was our largest donee for fy 2023-2024 and the funds received by the boys and girls club are used to inspire and enable all young people, especially those who need them most, to realize their full potential as productive, responsible and caring citizens. They were awarded $35,000. The foundation also awarded funds to carteret health care in the amount of $25,000 and these funds are for patient comfort/care during chemotherapy and radiation treatments. Other organizations such as the east carolina boy scouts and the broad street clinic were awarded $7,500 each to assist with their annual budgeting programs.

Operating model

Revenue model
Affiliate-supported. 62% of the money available for current operations came from contributions from related organizations.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 94
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.8%; rating input score 40
  • Program expense ratio: 88.5%; rating input score 89
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.7%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 21.29; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 15.1% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 13% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 39.8% of revenue deployed · 88.5% of spending went to programs
  • Governance: 18 of 18 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $260K in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 12 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.