Ferrari Owners Charitable Foundation

Nonprofit profile at a glance

EIN
274500443
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Kentfield, CA, USA
Phone
4154649601
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Reported finances

Revenue
$468,755
Expenses
$480,921
Assets
$101,994
Liabilities
$4,943

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LANCE DUBLIN (PRESIDENT &)

People named in this filing

  • ANTHONY ABDULMASSIH (BOARD MEMBER)
  • KONSTANTINA CHILINGIROVA (BOARD MEMBER)
  • CHRIS DOLAN (TREASURER)

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

Focf is operated entirely by an unpaid, volunteer board; we have no salaried staff, and our operating expenses relate directly to the fog rally and its fundraising activities. Each year, the organization conducts an annual charity car rally, and after covering event costs from rally revenues and sponsorships, net proceeds are donated to youth-focused charities recommended by participants and approved annually by the board of directors.

What it reported doing in 2024

In 2024, the fog rally jointly benefited make-a-wish foundation and the ferrari owners charitable foundation (focf) fund for kids. This year marked the eleventh consecutive year of our partnership with make-a-wish and the fifth year of the fund for kids. Fundraising efforts generated 42,000 for make-a-wish, bringing focfs cumulative support for make-a-wish to more than 2,000,000 and helping enable over 200 wishes for children with critical illnesses. In addition, the 2024 fog rally raised 42,000 for the focf fund for kids, bringing cumulative fund for kids support to over 400,000. These dollars are distributed as grants to youth-serving organizations in the bay area, expanding access to education, literacy, and basic resources for disadvantaged children. In 2024, fog rally raised 84,000 in cash grants and approx. 82,500 in in-kind contributions (auction items, experiences, and services). Net proceeds funded make-a-wish (11th consecutive year) and our focf fund for kids, providing grants to six additional youth-serving nonprofits.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 80% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.8%; rating input score 90
  • Program expense ratio: 87.5%; rating input score 88
  • Fundraising efficiency: $93.75 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.6%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 89.8% of revenue deployed · 87.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $421K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 7 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.

  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.