Iron Horse Marines Foundation Inc

Nonprofit profile at a glance

EIN
274436795
IRS 990 coverage
2012–2013
Forms available
Form 990 2013
Location
Palm Springs, CA, USA
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Animal Protection and Welfare

Official website

Reported finances

Revenue
$55,347
Expenses
$54,359
Assets
$1,937
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MICHAEL J TEMPLETON (PRESIDENT)
  • AARON SEIBERT (VICE PRESIDENT)

People named in this filing

  • MICHAEL J TEMPLETON (PRESIDENT)
  • AARON SEIBERT (VICE PRESIDENT)
  • JAMES GULARTE (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 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide grants to qualified wounded us marines and navy corpsmen and their families for education, emergencies, and back to school & holiday cash cards for the benefit of their children.

What it reported doing in 2013

Provided 224 cash cards for military px for back to school and christmas cash cards to patients of the wounded warriors battalion detachment at 29 palms marine base including the mountain warfare training center in bridgeport, California plus for purple heart recipients. Cards were distributed at the rate of one $50 card per dependent of each qualified recipientfor back to school money and then at the rate of one $200 card per dependent for christmas cash cards. All cards were for use at the base mcx unless the qualified recipient was on duty at the mountain warfare center, in which case they received walmart cash cards.

Operating model

Revenue model
Other-operating. 62% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Total assets are small relative to annual expenses; liquid coverage is unknown and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 95
  • Accountability: 88
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.4%; rating input score 95
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 1.8%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 32.7% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 68.5% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 95.4% of revenue deployed · 97.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $53K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2012 to 2013
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.