His1040 Inc

Nonprofit profile at a glance

EIN
542059311
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Virginia Beach, VA, USA
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$524,566
Expenses
$494,731
Assets
$36,546
Liabilities
$2

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • Fredrick Virtucio (Director)
  • William D Tyree III (TreasurerDirector)
  • Napoleon C Ignacio (FounderDirector)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fulfill the Great Commission among unreached people groups by empowering native/indigenous missionaries.

What it reported doing in 2020

Highlights of 2020--Due to the global pandemic that continued into 2020, HIS1040 provided a tremendous amount of relief to underserved people groups in remote areas. There were 3 waves of distributions that included food, water, medicine and blankets. HIS1040 continued to install wells with handpumps in remote tribal areas. Motorcycles and bicycles were provided to workers to enhance mobility in remote areas. Compassionate grief counseling was provided to many who lost family and friends due to Covid-19. Sewing centers that had previously been established in Bangladesh and India were able to transition into making face masks which provided many women with the ability to earn a living. Although it was a trying year, HIS1040 made an impact on people groups that may have been overlooked.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 46
  • Accountability: 76
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: $5,043.88 raised per $1 spent on fundraising; rating input score 99; 99th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • 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: 0%; rating input score 0; 11th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.7%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -7% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -24.5% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 99.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $493K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.