Florida Mentoring Network Inc

Nonprofit profile at a glance

EIN
934355322
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
West Palm Beach, FL, USA
Phone
9737807920
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$933,947
Expenses
$916,190
Assets
$189,298
Liabilities
$3,598

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

Leadership & pay

9 people listed

Executive titles in this filing

  • BUTCH CARMICHAEL (PRESIDENT)
  • THOMAS RIVERA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • THOMAS RIVERA (EXECUTIVE DIRECTOR): $103,000 total reported compensation
  • CHRISTINA BARONE (DIRECTOR OF OPERATIONS): $80,000 total reported compensation
  • JENNIFER DAMICO (DIRECTOR OF MENTORS): $70,000 total reported compensation

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

Overview

Mission

Florida mentoring network empowers young people ages 13 to 25 through a proven process of growth, connection, and skill building. We believe in "trusting the process"a journey where consistent mentoring, meaningful relationships, and hands-on learning open doors to opportunity and long-term success.through an evidence-based mentoring program and innovative mobile training units, Florida mentoring delivers transformative experiences that strengthen essential life and career skills, build confidence, and build the next generation of servant leaders.

What it reported doing in 2024

Delivering exceptional programming that transcends barriers, ensuring accessibility to underprivileged populations. We aim to empower youth who lack consistent adult support by providing them with opportunities for personal growth and essential skills for thriving in trade careers or innovation fields.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

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

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.4%; rating input score 82
  • Program expense ratio: 84%; rating input score 84
  • Fundraising efficiency: $7.64 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.9%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 27.6%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 90.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 73.4% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 82.4% of revenue deployed · 84% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $770K in reported program spending
  • Leadership: top reported pay $103K · 9 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.