Micronesia Conservation Trust

What it reported doing in 2024

Administration, Finance, and Human Resources Program: The Administration and Finance, staff provides administrative and financial management support to the Conservation and Capacity-Building Programs. MCTs financial management system is comprised of accounting records and a series of processes and procedures assigned to staff Board of Trustees and outside professionals. The goals of MCTs systems are to ensure that financial data and transactions are properly entered into the accounting records and that reports are prepared accurately and in a timely fashion. MCTs financial management policies are procedures that provide assurance that assets are used solely for the benefit of the organization and not for personal or other gain, and that donated funds are used for the purposes which donors intended as specified in grant agreements. Internal controls help ensure operational efficiency and prevent the intentional or misguided use of funds for unauthorized purposes. The Administration and Finance Program also includes the Human Resources functions of the organization. MCT is also accredited to serve as the National Implementing Entity of the Adaption Fund for the FSM and as a Direct Access Implementing Entity for the Green Climate Fund for the FSM, RMI, and ROP. The MCT administration and Finance Program is responsible for ensuring that MCT administrative functions and project management systems meet the highest international standard.

Financial Efficiency

• Mission deployment rate: 69.2%; rating input score 69
• Program expense ratio: 74.5%; rating input score 75
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: 2 of 8 controls in place; rating input score 25
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Pass
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99.7%; rating input score 100; 40th 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: 4 of 7 controls in place; rating input score 57
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 28.8%; rating input score 84; 84th percentile among comparable filings
• Total-asset coverage ratio: 7.98; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 15.9% per year; rating input score 100; 79th percentile among comparable filings
• Revenue growth: 14.6% per year; rating input score 100; 81st percentile among comparable filings
• Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings