GGI Foundation Inc

Nonprofit profile at a glance

EIN
874772336
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
West Palm Beach, FL, USA
Phone
5618487200
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$271,195
Expenses
$242,618
Assets
$6,276,710
Liabilities
$260,932

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

Leadership & pay

9 people listed

Executive titles in this filing

  • KAREN DAVIDSON (PRESIDENT AND CEO)

Highest reported compensation

  • KAREN DAVIDSON (PRESIDENT AND CEO): $503,535 total reported compensation
  • CAROL RICHMOND (CHIEF FINANCIAL OFFICER): $196,167 total reported compensation

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

Overview

Mission

Providing support to gulfstream goodwill industries, inc., and to other programs furthering rehabilitation, training, employment, and or low-income housing for persons with disabilities.

What it reported doing in 2024

Ggi foundation, inc. (the "foundation") is a Florida nonprofit corporation whose operations commenced december 1, 2022. The foundation's purpose includes providing support to gulfstream goodwill industries, inc., and to other programs furthering rehabilitation, training, employment, and or low-income housing for persons with disabilities, and the disadvantaged throughout the southeast Florida region.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.9%; rating input score 83
  • Program expense ratio: 85.1%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 25.87; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 61.1%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 73.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 66.4% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 82.9% of revenue deployed · 85.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $207K in reported program spending
  • Leadership: top reported pay $504K · 9 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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 — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.