Island Fresh Inc

Nonprofit profile at a glance

EIN
863853020
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Jacksonville, FL, USA
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$99,935
Expenses
$110,824
Assets
$0
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • ROBERT V LEE IV (DIRECTOR)
  • ROCHELLE MARINO (DIRECTOR)
  • DR ROBERT V LEE III (CHAIRMAN)

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

Island fresh, inc. (the organization) is a group of aquaponics facilities in the u.s. Virgin islands that were built to provide practical agribusiness training for a traditionally agrarian culture suffering from high unemployment and a lack of consistent access to quality food. This job training facility aims to provide residents with the tools needed to successfully start businesses and/or work within the agribusiness sector, all while producing healthy produce for a territory that imports more than 97% of its food. In addition, the complex serves as the foundation for an agribusiness center that, in parternship with st. Croix farmers in action, will operate to establish and develop locally owned small businesses.

What it reported doing in 2024

Provide practical agribusiness training for a traditionally agrarian culture suffering from high unemployment and a lack of consistent access to quality food.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.7%; rating input score 97
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Pass

Sustainability

  • Operating margin: -10.9%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -62.2% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -101.6% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $107K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Growth: Asset growth scored 0/100.