Core Foundation

Nonprofit profile at a glance

EIN
660764897
IRS 990-EZ coverage
2019–2024
Forms available
Form 990 2022, Form 990-EZ 2024, Form 990-N 2018
Location
St John, VI, USA
Phone
5033493803
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Water Resource, Wetlands Conservation and Management

Reported finances

Revenue
$132,904
Expenses
$89,256
Assets
$237,378

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

Leadership & pay

7 people listed

Executive titles in this filing

  • FRANK CUMMINGS (PRESIDENT)

People named in this filing

  • FRANK CUMMINGS (PRESIDENT)
  • MICHAEL FUNK (VICE PRESIDE)
  • REBECCA GIBBEL (SCIENCE OFFI)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The c.o.r.e. Foundation inspires communities to be better stewards of the environment through marine awareness education and hands on coastal programs.

What it reported doing in 2024

A serious threat to caribbean coral reefs is invasive lionfish. These venomous fish are prolific breeders and have no predators in the caribbean, so their populations is unchecked. For fifteen years, core as conducted education and training of divers for lionfhish removal using a non-projectile. The hawaiian sling device and our organization are responsible for removing thousands of these invasive fish each year from both v.i. Territoral and v.i. National park waters. Held a very successful lionfish derby with over 200 registered participants on the island of st. Croix, vi. Core has been permitted to maintain an in-water nursery to maintain genotypes of locally threatened corals and to grow them to a suitable size for nearby outplanting. Core divers conduct frequent nursery cleaning and data collection, and are finding additional nursery space.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
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

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.2%; rating input score 56
  • Program expense ratio: 75.6%; rating input score 76

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 32.8%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 2.66; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 9.6% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 56.2% of revenue deployed · 75.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $68K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.