Family Office Foundation Inc

Nonprofit profile at a glance

EIN
472788229
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Costa Mesa, CA, USA
Phone
9495104850
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$30,387
Expenses
$4,662,224
Assets
$81,473,977
Liabilities
$434,145

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

Leadership & pay

4 people listed

Executive titles in this filing

  • TIM VOORHEES (PRESIDENT/TREASURER)

People named in this filing

  • TIM VOORHEES (PRESIDENT/TREASURER)
  • DARRYL SOPATA (DIRECTOR/ANALYST)
  • ED COTNEY (SECRETARY)

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 specific purpose of the corporation is to provide assistance to ther charitable organizations described in irc 501(c)(3).

What it reported doing in 2024

Financial support to approved irc 501(c)3 charities that further educational, religious, or other causes consistent with the donors' philanthropic desires.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 86
  • Accountability: 94
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 70.5%; rating input score 71; 49th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15,242.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 17.48; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -50.6% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.6M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 97 filed money-flow records
  • Related organizations: 156 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 — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.