Ginger Cove Foundation Inc

Nonprofit profile at a glance

EIN
113656031
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Annapolis, MD, USA
Phone
4102667300
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$313,577
Expenses
$172,646
Assets
$3,764,292
Liabilities
$659,847

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

Leadership & pay

8 people listed

Executive titles in this filing

  • D RAY FISHER (CEO (UNTIL 3/31/25))
  • CHARLES WARNER (CEO (SINCE 2/24/25))

Highest reported compensation

  • D RAY FISHER (CEO (UNTIL 3/31/25)): $333,921 total reported compensation
  • WILLIAM E GIBSON JR (CFO): $57,496 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 create a "margin of excellence" to benefit ginger cove residents.

What it reported doing in 2024

The ginger cove foundation supports annapolis life care, inc., through development of funding resources. Annapolis life care, inc., which provides housing and health care to the aged, received grants of $0.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 16
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 77
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.3%; rating input score 16
  • Program expense ratio: 18.1%; rating input score 18
  • Fundraising efficiency: $1.4 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 21.8; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 16.3% of revenue deployed · 18.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $334K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 16/100.
  • High — Financial Efficiency: Program expense ratio scored 18/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.