Fomares Inc

Nonprofit profile at a glance

EIN
882732309
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2022
Location
Mexico City, Mexico, MX
Phone
3468434423
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Marine Science and Oceanography

Official website

Reported finances

Revenue
$306,272
Expenses
$244,210
Assets
$167,823
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • MARIO GERARDO GOMEZ CRUZ (VICE PRESIDENT)

People named in this filing

  • MARIO GERARDO GOMEZ CRUZ (VICE PRESIDENT)
  • GABRIELA GOMEZ GONZALEZ (CHAIR)
  • DIANA PINA VELASCO (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fomares nbsp; inc nbsp; is nbsp; organized nbsp; and nbsp; operated nbsp; exclusively nbsp; for nbsp; charitable nbsp; and nbsp; educational nbsp; purposes nbsp; including nbsp; support nbsp; for nbsp; marine nbsp; conservation nbsp; environmental nbsp; education nbsp; and nbsp; related nbsp; public-benefit nbsp; initiatives

What it reported doing in 2025

The organization supported charitable and educational marine conservation activities through grants and direct program support in mexico including funding to mission-aligned organizations and individuals for field activities project implementation and related exempt-purpose work

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 100
  • Accountability: 58
  • Sustainability: 59
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79%; rating input score 79
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 20.3%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 66.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 81.8% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 79% of revenue deployed · 99.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $242K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 7 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.