Monterey Foundation

Nonprofit profile at a glance

EIN
263612851
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2016
Location
Lubbock, TX, USA
Phone
8067905890
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Christianity

Reported finances

Revenue
$134,118
Expenses
$107,772
Assets
$618,709
Liabilities
$109,755

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

Leadership & pay

11 people listed

Executive titles in this filing

  • MIKE MARTIN (President)

People named in this filing

  • BARRY STEPHENS (Treasurer)
  • EDWIN DAVIS (Secretary)
  • MIKE MARTIN (President)

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

Since inception, the Monterey Foundation has sought to make a difference in our world by demonstrating God's love. The Monterey Foundation continues to seek new opportunities to serve and individuals to engage in providing a window into God's heart for people

What it reported doing in 2024

Grants to 501(c)3 organizations to facilitate the organizations mission

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 69% of its reported program spending out as grants.

The verdict

STRONG - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.3%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 19.6%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 5.74; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.9% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 90.3% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.