Legaseas Inc

Nonprofit profile at a glance

EIN
364516825
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
New Richmond, OH, USA
Phone
2033003515
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Environmental Quality, Protection, and Beautification N.E.C.

Reported finances

Revenue
$86,050
Expenses
$76,809
Assets
$16,552
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • DEBORAH ADAMS (EXECUTIVE DI)
  • JENNIFER HEGERTY (SECRETARY/TR)
  • JENNIFER NOLAN (SENIOR PARTN)

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 primary mission of legaseas is advancing measurable progress in the protection of the oceans and planet through: 1. Raising awareness of the state of the planet and actions required of global citizenry to combat species extinction and climate change 2. Ending commercial whaling & captivity of cetaceans 3. Support and expansion of eco-tourism as a sustainable alternative to species extraction and habitat degradation 4. Supporting passionate individuals, film makers, and change agents 5. Supporting business models where sustainable change is core roi

What it reported doing in 2024

The organization organization partnered with film makers to produce the unearth film on bristol bay, Alaska where mining operations are disrupting and destroying local and regional ecosystems.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 49
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.7%; rating input score 88
  • Program expense ratio: 98.2%; rating input score 98
  • 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; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: 10.7%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -30.3% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -54.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -94.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 87.7% of revenue deployed · 98.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $75K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.