Homosassa River Restoration Project Inc

Nonprofit profile at a glance

EIN
815074899
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Homosassa, FL, USA
Phone
4078321598
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Natural Resources Conservation and Protection

Reported finances

Revenue
$3,900,228
Expenses
$3,860,307
Assets
$2,992,022
Liabilities
$2,899,888

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

Leadership & pay

7 people listed

Executive titles in this filing

  • STEPHEN MINGUY (PRESIDENT)

People named in this filing

  • ROGER CULLEN (DIRECTOR)
  • BARBARA FLETCHER (TREASURER)
  • FRANK KAPOCSI (DIRECTOR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is concerned for the homosassa river, the creatures who live there and its ongoing sustainability. The organization will work to get the homosassa river back to a vibrant, diverse ecosystem. Along with the river restoration process, the organzation will work on the appiclation and instruction of existing and future technologies.

What it reported doing in 2024

November 15, 2024 marked the end of the second full season of restoration work on the homosassa river. Phase 1 of the project is now complete. Following is a quick compilation of what has been accomplished to date: area restored - 23.69 acres muck removed - 120 million lbs. Grow sav herbivory devices - 1060 eelgrass plants installed - 130,445

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - 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: 92
  • Accountability: 76
  • Sustainability: 38
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -22% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 29% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.