Formaldehyde Council Inc

Nonprofit profile at a glance

EIN
521947500
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Arlington, VA, USA
Phone
7038750711
Rating confidence
Limited
Sector
General Science

Official website

Reported finances

Revenue
$1,146,301
Expenses
$1,535,155
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

4 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage accurate scientific evaluation of formaldehyde & formaldehyde-containing products & to communicate sound scientific information relating to the uses, benefits, & sustainability of these products.

What it reported doing in 2010

Public affairs advocacy - this program involves interfacing international, federal and state agencies with other organizations in the development of regulations and standards related to formaldehyde and formaldehyde-containing products; providing mechanisms for communicating with legislative, regulatory and other authoritative entities and generally taking actions deemed appropriate to encourage the continued safe manufacture and use of formaldehyde as a major organic chemical in a global economy.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 90
  • Sustainability: 5
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: Limited
  • 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 8 controls in place; rating input score 75
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -33.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 13.6%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $209K · 4 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.