Hardwood Federation

Nonprofit profile at a glance

EIN
200744153
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2024632705
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$609,534
Expenses
$663,561
Assets
$222,944
Liabilities
$36,870

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

Leadership & pay

23 people listed

Highest reported compensation

  • DANA LEE COLE (EXECUTIVE DI): $260,187 total reported compensation
  • BRYAN BRENDLE (POLICY AND P): $116,553 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 serve as the legislative arm for the hardwood industry. The federation represents the majority of the organizations engaged in the manufacturing, wholesaling, or distribution of north american hardwood lumber, veneer, plywood, flooring and related products.

What it reported doing in 2024

The hf developed and pursued a range of legislative priorities for the hardwood industry to : promote and represent the interest and improve business conditions in the hardwood industry, to maintain a healthy business environment for small and family businesses and to maintain commercial access to federal and private hardwood timberlands.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - 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: 0
  • Transparency & Controls: 64
  • Accountability: 69
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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: 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: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.9%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 56.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 21 of 21 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $260K · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.