Lucy Fernandez Foundation Inc

Nonprofit profile at a glance

EIN
884107708
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3055627232
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$199,185
Expenses
$206,277
Assets
$801,987
Liabilities
$1,031

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ANDRES FERNANDEZ (CHIEF EXECUTIVE OFFICER)
  • MELISSA FERNANDEZ (CHIEF EXECUTIVE OFFICER)

People named in this filing

  • ANGEL FERNANDEZ JR (DIRECTOR)
  • ANDRES FERNANDEZ (CHIEF EXECUTIVE OFFICER)
  • ANTONIO GARO FRIGULS (CHIEF FINANCIAL OFFICER)

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 mission is to provide scholarship and experiential learning opportunities for students at our lady of lourdes academy. Secondly, to help create awareness around boater and watercraft safety by working with private and government agencies, both local and beyond, by aiding them in their initiatives that support, promote, and celebrate being on the water.

What it reported doing in 2024

Lucy fernandez foundation inc. (the corporation) was established in honor and loving memory of lucy fernandez. The corporation's mission is to provide (i) scholarships for students at our lady of lourdes academy, lucy's cherished school, who demonstrate financial need, and (ii) assistance to students at our lady of lourdes academy (and their families) should they experience an unforeseen event or hardship (i.e., medical expenses). The scholarship fund will afford students the opportunity to share in what generations of young women, like lucy, were fortunate to experience. The corporation will allocate all of its time, funds raised and overall expenses to the advancement of its mission. Recently, the corporation organized a boater safety summit for the community. In the future, the corporation plans to undertake various fundraising activities (i.e., annual galas, food drives, social media/website soliciations, etc.).

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 93% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.7%; rating input score 91
  • Program expense ratio: 86.6%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd 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: -3.6%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 3.89; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 122.2% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -75.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 90.7% of revenue deployed · 86.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $179K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.