Eastpay Inc

Nonprofit profile at a glance

EIN
540991483
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Richmond, VA, USA
Phone
8046441642
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations

Official website

Reported finances

Revenue
$1,625,309
Expenses
$1,973,332
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • NORMAN K ROBINSON RETIRED (PRESIDENT &)
  • LAURA STEELE (PRESIDENT AN)

Highest reported compensation

  • NORMAN K ROBINSON RETIRED (PRESIDENT &): $268,967 total reported compensation
  • PAMELA RODRIGUEZ (EXEC VP & CO): $179,827 total reported compensation
  • STEVE VAGLIO (EXEC VP): $169,773 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide payments expertise to our members through education, publications, compliance, support, risk control, and industry advocacy that supports the growth and quality of payments while minimizing risk.

What it reported doing in 2016

To provide the financial and business communities primarily in Virginia, West Virginia, North Carolina, and Florida with electronic payments education, publications, and compliance support. We conduct in-person seminars, eastpay-sponsored teleseminars and webinars, and teleseminars and webinars sponsored by other regional payments associations. In addition to these events, eastpay also conducts an annual two and a half day conference. Eastpay sells publications focusing on payments, some of which are developed by the association directly while others are developed by other associations, including the national association. In keeping with our membership services charter, the eastpay staff receives member calls relating to payments questions by our members. In order to keep the members up to date on a variety of payment issues, the membership also receives a number of communications from eastpay, including issues of our electronic network news newsletter, editions of our Washington watch report and 58 ebulletins and twitter messages. Additionally, eastpay provides direct support to members on specific member-requested educational engagements which are offered to members on a time and materials basis.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: 0
  • Transparency & Controls: 89
  • Accountability: 95
  • Sustainability: 4
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -21.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 31.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.5% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -11.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $269K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 5/100.