National Lust Program Fund

Nonprofit profile at a glance

EIN
201317448
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Richmond, VA, USA
Phone
8043586661
Rating confidence
Limited
Sector
Pollution Abatement and Control Services

Official website

Reported finances

Revenue
$148,457
Expenses
$206,255
Assets
$115,036
Liabilities
$545,480

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

3 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage the voluntary clean up of leaking underground storage tanks

What it reported doing in 2012

The fund encouraged the voluntary clean up of leaking underground storage tanks by providing a low cost means of converting receivables issued by the Virginia petroleum storage tank fund ("vpstf") into cash. The vpstf does not have adequate funds available to immediately reimburse companies and individuals for the costs incurred in cleaning up leaking underground storage tanks and must issue notes payable to claimants. A lack of immediate reimbursement discourages participation in the voluntary clean up program. The national lust program fund provides a ready source for individuals and companies to effectively receive prompt reimbursement for their claims by purchasing the claims receivable at a low cost to the claimant.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 20
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • 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: Fail
    • 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: -38.9%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 4.74; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -94.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -99.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $199K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 3 filing years from 2010 to 2012
  • 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.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.