Futernick Family Foundation Inc

Nonprofit profile at a glance

EIN
650078657
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3055764000
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Independent Foundations
Affiliation
Judaism

Reported finances

Revenue
$258,347
Expenses
$306,034
Assets
$4,660,098
Liabilities
$1,061

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MORRIS FUTERNICK (PRESIDENT)
  • FRANK FUTERNICK (VICE PRESIDENT)

Highest reported compensation

  • JACOB SOLOMON (BOARD MEMBER): $720,946 total reported compensation
  • SCOTT KAPLAN (SECRETARY): $252,279 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 support the greater miami jewish federation and other irc code section 501(c)(3) organizations through philanthropy, voluntarism and grantmaking programs.

What it reported doing in 2024

The taxpayer provided grants in the amount of $ 274,200 to the greater miami jewish federation and other irc section 501(c)(3) organizations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 55
  • Accountability: 67
  • Sustainability: 43
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 57.2%; rating input score 57; 44th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 86.7%; rating input score 87; 23rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.5%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 15.23; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 22.2%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.6% of spending went to programs
  • Governance: 13 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $274K in reported program spending
  • Leadership: top reported pay $721K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 57/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.