Generation Steam

Nonprofit profile at a glance

EIN
852241739
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
San Diego, CA, USA
Phone
8584550300
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,546,778
Expenses
$1,508,936
Assets
$771,136
Liabilities
$281,672

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

Leadership & pay

14 people listed

Highest reported compensation

  • JOSEPH PANETTA (DIRECTOR): $1,263,315 total reported compensation
  • SARA PAGANO (MANAGING DIRECTOR): $152,483 total reported compensation
  • SILVANA DELPICCOLO (DIRECTOR OF COMMUNITY RELA): $115,160 total reported compensation

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

Overview

Mission

We advocate for investing in steam education as one of the most effective ways to build a secure socio-economic environment for everyone regardless of race, creed, gender or personal beliefs. We feel that it is everyone's job not just teachers to spark excitement and curiosity in the minds of young people. We lead by example in developing partnerships and initiatives that will advance this cause.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.1%; rating input score 92
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 39.4%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 37.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 31.3% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 16.3% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 92.1% of revenue deployed · 94.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $1.3M · 14 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $344K reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.