Fungi Foundation Inc

Nonprofit profile at a glance

EIN
851478153
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
New York, NY, USA
Phone
2122029655
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Natural Resources Conservation and Protection

Reported finances

Revenue
$407,817
Expenses
$462,022
Assets
$82,068
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • GIULIANA FURCI (CHIEF EXECUTIVE DIRECTOR)

Highest reported compensation

  • GIULIANA FURCI (CHIEF EXECUTIVE DIRECTOR): $58,336 total reported compensation

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

Overview

Mission

To explore the fungi to increase knowledge of their diversity, promote initiative solutions to contingent problems, educate about their existence and applications, as well as recommending public policy for their conservation.

What it reported doing in 2024

Kingdom fungi is indispensable to earths many ecosystems and the organisms that inhabit the planet. Our main focus is on research, conservation, education, exploration and development of fungi. The organization envisions a healthy planet in which fungi are recognized as the interconnectors of nature.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 80
  • Accountability: 90
  • Sustainability: 24
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $9.8 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • 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: 100%; rating input score 100; 63rd 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.3%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.18; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: -11.1% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 27.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 75.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $350K in reported program spending
  • Leadership: top reported pay $58K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 27/100.