Million Dollar Vegan Inc

Nonprofit profile at a glance

EIN
872839022
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Santa Barbara, CA, USA
Phone
7578372276
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$1,647,428
Expenses
$1,473,545
Assets
$384,716
Liabilities
$47,041

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

Leadership & pay

6 people listed

Executive titles in this filing

  • NAOMI HALLUM (CEO)
  • MATTHEW GLOVER (PRESIDENT)

Highest reported compensation

  • NAOMI HALLUM (CEO): $108,225 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To educate about the environmental, ethical, personal, and public health benefits of a plant-based lifestyle and to provide guidance, support, and free plant-based meals to essential workers and underserved communities.

What it reported doing in 2024

The organization was formed to provide free education and support to those interested in adopting a plant-based diet for health, environmental, or ethical reasons, and to try to combat the food injustice and unnecessary animal suffering prevalent around the world. Education is provided in the form of digital and experiential marketing, through a variety of written, visual, and printed content, all of which is developed in-house and in multiple languages. Support is provided in the form of free online resources, by providing free access to diet and nutrition specialists, and by donating free plant-based meals and groceries to underserved communities worldwide. Since launching our programs, we have provided free online dietary support to over 170,000 individuals, produced over 300 educational videos, built an online community of around 360,000 people, executed high-profile campaigns in more than 10 countries, and delivered over one million nutritious meals to marginalized peoples in 30 different countries.

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 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 74
  • Accountability: 79
  • Sustainability: 43
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.9%; rating input score 67
  • Program expense ratio: 74.8%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 97.1%; rating input score 97; 44th 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 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 10.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -33.2% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 70.5% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 66.9% of revenue deployed · 74.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $108K · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.