Cornet Association of America

Nonprofit profile at a glance

EIN
272521668
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Washington, DC, USA
Phone
2024577200
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,847,662
Expenses
$584,020
Assets
$56,059,244
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • George N Harris Jr (President)
  • Edwin J Broecker (Vice President)

People named in this filing

  • Donald D Kozusko (Secretary Treasurer)
  • George N Harris Jr (President)
  • Edwin J Broecker (Vice 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

See attached sch o

What it reported doing in 2024

To support, promote and advance biological, marine, and environmental science, particularly as they complement the purposes of medical science, health care, and education; (4) political activities that foster individual responsibility and business development, especially in support of the other purposes; (5) public parks and land, including natural resource conservation; (6) amateur athletics; (7) performing arts; (8) m useums and educational facilities, making historical materials or artistic works accessible to others; (9) historic preservation and rehabilitation; and (10) programs that support best practices and management continuity in familybased, communityoriented privately held businesses;

Operating model

Revenue model
Other-operating. 72% 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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 17
  • Transparency & Controls: 93
  • Accountability: 70
  • Sustainability: 95
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 15.2%; rating input score 15
  • Program expense ratio: 27.4%; rating input score 27
  • 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: Limited
  • 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: 68.4%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 95.99; rating input score 99; 99th 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: 70.9% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -105.6% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 15.2% of revenue deployed · 27.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $160K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 15/100.
  • High — Financial Efficiency: Program expense ratio scored 27/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.