Hobe Sound Community Chest Inc

Nonprofit profile at a glance

EIN
596155092
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hobe Sound, FL, USA
Phone
7725459072
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$2,882,784
Expenses
$3,386,249
Assets
$2,609,205
Liabilities
$155,493

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

Leadership & pay

49 people listed

Executive titles in this filing

  • BENTON P BOHANNON JR (PRESIDENT)
  • JOYCE BULLEN GAY (VICE PRESIDENT)
  • ROBERT C MCCORMACK (VICE PRESIDENT)
  • KATHY PLUM (VICE PRESIDENT)
  • ERIC T WESEL (VICE PRESIDENT)
  • PAMELA W WHITE (VICE PRESIDENT)

Highest reported compensation

  • SCOTT R BERRY (EXECUTIVE DIRECTOR / SECRE): $190,272 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the hobe sound community chest, inc. Is to promote the social and educational wellbeing of the entire community by funding programs and iniatives serving hobe sound residents in need

What it reported doing in 2024

The hobe sound community chest issues grants to other non-profitorganizations who, through their services, enhance the qualityof life for residents of hobe sound. The scope of these services may be based in child care, education, youth recreation, food and shelter, or other areas which will have a direct impactfor the greater good of the community. The organizationsupported forty six service organizations in the current fiscal year.hobe sound strong start is an initiative attempting to increase the number of hobe sound children ready to learn when they enter kindergarden. The chest is providing scholarships for preschool to children from families that cannot afford it, bringing arts and music programs to preschools, and helping preschools build more space to serve children. The goal is for every hobe sound preschooler to have a place to learn and the means to attend.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 73
  • Accountability: 95
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: $18.81 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.4%; rating input score 99; 38th 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 8 controls in place; rating input score 88
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 11.7% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.7% of spending went to programs
  • Governance: 48 of 48 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3M in reported program spending
  • Leadership: top reported pay $190K · 49 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 43 filed money-flow records
  • Related organizations: 42 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 8/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 57/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.