Equation Collaborative Corp

Nonprofit profile at a glance

EIN
854081633
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Encinitas, CA, USA
Phone
2139522074
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Food Programs

Official website

Reported finances

Revenue
$1,198,791
Expenses
$1,435,380
Assets
$94,353
Liabilities
$6,031

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

Leadership & pay

9 people listed

Executive titles in this filing

  • WESLEY BURT (EXECUTIVE DIRECTOR)
  • GREGG BURT (BOARD PRESIDENT)

Highest reported compensation

  • WESLEY BURT (EXECUTIVE DIRECTOR): $150,609 total reported compensation

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

Overview

Mission

+box is on a mission to deliver healthy food and fresh ideas to those who need it most. The current food assistance system was created 60 years ago and is still based on hunger-relief when it should be delivering health and wellness. +box is collaborating with local communities in san diego to create a next-generation food assistance system that will fuel wellness, growth, and opportunities for a healthier life.

What it reported doing in 2024

Equation collaborative, through our +box food and nutrition program, distributed 28,640 boxes with 428,069 pounds of fresh, healthy food, enough for approximately 356,977, meals to food insecure families who don't have enough to meet their basic nutritional needs. +box provided food to food insecure families in 47 of 52 weeks during 2024, supporting an average of 609 families per week.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 75
  • Accountability: 74
  • Sustainability: 15
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84%; rating input score 84
  • Program expense ratio: 70.1%; rating input score 70
  • Fundraising efficiency: $6.28 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -19.7%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 25.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 14.5% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -28.4% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 84% of revenue deployed · 70.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $151K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.