Icast

Nonprofit profile at a glance

EIN
412139623
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lakewood, CO, USA
Rating
56
Verdict
MIXED
Rating confidence
Standard
Sector
Rural Economic Development

Reported finances

Revenue
$29,390,504
Expenses
$31,478,876
Assets
$10,542,885
Liabilities
$5,770,807

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

Leadership & pay

7 people listed

Executive titles in this filing

  • RAVI MALHOTRA (President Secretary)

Highest reported compensation

  • RAVI MALHOTRA (President Secretary): $119,999 total reported compensation

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

Overview

Mission

Icast provides economic environmental and social benefits to communities in a manner that builds local capacity.

What it reported doing in 2024

From its inception icast has worked to provide sustainable solutions for underserved communities. Currently icasts focus is in the us multifamily housing sector. By investing in local communities preserving and upgrading affordable housing and reducing energy and water waste icast provides benefits aligned with the triple bottom line standard of its mission. Icast is also set to scale its influence through programs that consult with multifamily property owners on sustainable development and technology

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. 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: 23
  • Transparency & Controls: 100
  • Accountability: 55
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.1%; rating input score 27
  • Program expense ratio: 25.4%; rating input score 25
  • Fundraising efficiency: $0.05 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -7.1%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 18.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 20.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 20% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 27.1% of revenue deployed · 25.4% of spending went to programs
  • Governance: 6 of 7 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8M in reported program spending
  • Leadership: top reported pay $120K · 7 people listed
  • Highest-paid contractors: 5 contractors listed · $11.2M reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

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 — Financial Efficiency: Mission deployment rate scored 27/100.
  • High — Financial Efficiency: Program expense ratio scored 25/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.