Fleet Landing Endowment Fund Inc

Nonprofit profile at a glance

EIN
593248806
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Atlantic Beach, FL, USA
Phone
9042469900
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$305,094
Expenses
$75,233
Assets
$3,611,943
Liabilities
$1,350

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JOSEPH MITRICK (VICE PRESIDENT)
  • JOSHUA ASHBY (CEO/SECRETARY)

Highest reported compensation

  • JOSHUA ASHBY (CEO/SECRETARY): $734,057 total reported compensation

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

Overview

Mission

Fleet landing endowment fund, inc. Is organized to provide financial assistance to residents of naval continuing care retirement foundation, inc. D/b/a fleet landing and to assist in the expansion of its resident service programs to secure quality of life for seniors.

What it reported doing in 2024

Provision of financial assistance service programs to the residents of naval continuing care retirement foundation, inc. D/b/a fleet landing and ongoing educational scholarships for the employees of fleet landing.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 72
  • Accountability: 85
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.5%; rating input score 37
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: Pass

Sustainability

  • Operating margin: 75.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 48.01; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 39.8%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 36.5% of revenue deployed · 82.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $62K in reported program spending
  • Leadership: top reported pay $734K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 37/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.