Graybeards Ltd

Nonprofit profile at a glance

EIN
113635931
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Belle Harbor, NY, USA
Phone
7186346812
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$629,217
Expenses
$695,227
Assets
$452,315
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • TOM MORGAN (PRESIDENT)

People named in this filing

  • TOM MORGAN (PRESIDENT)
  • JOHN COSGROVE (TREASURER)
  • DAN EDWARDS (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

In the aftermath of the worst act of terriorism committed against the united states of america, september 11, 2001 and the devastating crash of american airlines flight #587, a group of men from rockaway beach recognized the positive impact they could offer the community as a diversified group. In that spirit, graybeards has been dedicated to enhance the lives of others, promote friendship and fellowship among its members, hold meetings and have social gatherings to promote an interest in the community, help those in the community in their time of need, to promote the development/education of the youth of the community and promote a deeper appreciation of patriotism in the community.

What it reported doing in 2023

Graybeards held three fundraising events during the year to help those in the community in their time of need, promote the development/education of the youth and promote interests in our community.

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 96% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 88
  • Accountability: 82
  • Sustainability: 37
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $3.85 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.5%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 81.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $564K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 9 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: Fundraising efficiency scored 13/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Growth: Asset growth scored 0/100.