Iona Mcgregor Retiree Ins Tr Fund

Nonprofit profile at a glance

EIN
146325156
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Fort Myers, FL, USA
Phone
2394330660
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$1,113,337
Expenses
$559,436
Assets
$20,372,384
Liabilities
$65,562

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

Leadership & pay

6 people listed

Highest reported compensation

  • KHALID AQUIL (CHAIR): $214,604 total reported compensation
  • MARK WINZENREAD (SECRETARY): $196,686 total reported compensation
  • MICHAEL PORTER (VICE CHAIR): $159,878 total reported compensation

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

Overview

Mission

This fund has been established to provide post-retirement health benefits for the iona-mcgregor fire protection and rescue service district, a governmental unit established under Florida statute.

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program revenue.
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

MIXED - Most voting board members are independent and the filed numbers largely add up. 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: 60
  • Accountability: 100
  • Sustainability: 81
  • 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: 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 49.8%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 36.42; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 11.4% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $215K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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.

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.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.