Friends of HATS Inc

Nonprofit profile at a glance

EIN
621148031
IRS 990 coverage
2011–2012
Forms available
Form 990 2012
Location
Gallatin, TN, USA
Phone
6154510974
Rating confidence
Limited
Sector
Public Foundations

Reported finances

Revenue
$19
Expenses
$0
Assets
$3,593
Liabilities
$3,593

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

4 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At this point, to provide aid and assistance to HATS, Inc (62-1047136) Currently inactive, dormant.

What it reported doing in 2012

In prior years, the organization provided residential and day care services to intellectually and developmentally delayed adults. Clients resided with persons of similiar levels of disabilities - Operations have ceased as of this time, except for a cash balance which is a liability to HATS Inc (62-1047136).

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 90
  • Accountability: 80
  • Sustainability: 1
  • Growth: 60

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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 62.1% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $73K · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2011 to 2012
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.