Halcyon Futures Inc
Nonprofit profile at a glance
- EIN
- 933537739
- IRS 990 coverage
- 2023–2024
- Forms available
- Form 990 2024
- Location
- Santa Monica, CA, USA
- Phone
- 5027277119
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.
Reported finances
- Revenue
- $2,116,383
- Expenses
- $1,706,677
- Assets
- $3,348,422
- Liabilities
- $972,030
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- MICHAEL MCCORMICK (CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- MICHAEL MCCORMICK (CHIEF EXECUTIVE OFFICER): $306,214 total reported compensation
- SHELBY SUMMERFIELD (HEAD OF OPERATIONS): $172,052 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Halcyon futures is home to established leaders from business, technology, and public policy. We help them found new ambitious projects or take on senior roles at existing high-impact organizations.
What it reported doing in 2024
In 2024, halcyon ran programs such as conferences, meetings, and retreats related to its exempt purpose for halcyon cohort members. The organization offered grants to halcyon cohort members who were starting new mission-aligned organizations as well as to other nonprofit organizations.
Operating model
- Revenue model
- Donor-supported. 96% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 67
- Accountability: 60
- Sustainability: 59
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.5%; rating input score 65
- Program expense ratio: 79.3%; rating input score 79
- Fundraising efficiency: $115.74 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: 2 of 8 controls in place; rating input score 25
- Claims monitoring procedures: Pass
- Requires narrative reports: Pass
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: 19.4%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 1.96; rating input score 61; 61st percentile among comparable filings
- Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
- Officer compensation ratio: 28%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 176.9% per year; rating input score 100; 100th percentile among comparable filings
- Revenue growth: -0.9% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: 13.9% per year; rating input score 100; 71st percentile among comparable filings
Details
- Where the money goes: 65.5% of revenue deployed · 79.3% of spending went to programs
- Governance: 2 of 3 board members independent · 4 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.4M in reported program spending
- Leadership: top reported pay $306K · 4 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $135K reported
- Consistency: 34 of 34 current checks pass
- Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 35/100.