Native Agriculture Financial Services

Nonprofit profile at a glance

EIN
921718542
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Fayetteville, AR, USA
Phone
4794457997
Rating
60
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Rural Economic Development

Official website

Reported finances

Revenue
$1,430,615
Expenses
$1,874,578
Assets
$12,782,884
Liabilities
$1,534,503

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Janie Hipp (PRESIDENT/CEO)
  • Tomie Peterson (PRESIDENT END: 3/24; CHIEF LENDING OFFICER)

Highest reported compensation

  • Janie Hipp (PRESIDENT/CEO): $437,684 total reported compensation
  • Sandra Martini (VP/COO): $249,817 total reported compensation
  • Ridge Howell (Legal Counsel): $146,940 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 serve the capital access and educational needs of farmers and ranchers, and other food and agriculture-related entities, among Native American communities.

What it reported doing in 2024

NAFS will provide capital access and related services to support and promote Native American's continued engagement in agriculture and enhance their involvement in activities that further intergenerational sustainability of Native communities. NAFS will also enhance philanthropic efforts that support capital access and will engage with others focused on encouraging food security and agriculture in Native communities. b. This activity will be carried out by the employees and leadership of NAFS, their consultants, and their partner and collaborative organizations. c. NAFS will serve the agriculture sector of what is known as Indian Country, which spans across all states of the United States. According to the most recent Census of Agriculture, there are at least 80,000 plus Native farmers and ranchers, fishers and silviculturists in some of the most remote communities in rural America. d. 75 percent of the NAFS's time is focused on capital access and fundraising to secure capital for to support Native agriculture. e. All NAFS' activities will be funded through donations, grants, and agreements for services, and 75 percent of NAFS's overall expenses are allocated to this activity. f. This activity furthers NAFS's charitable exempt purposes by promoting social welfare, in that it provides capital access at low interest rates to persons who have not and do not have access to traditional means of capital, and more broadly eliminates prejudice and discrimination and combats community deterioration.

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 100% 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 - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 32
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.9%; rating input score 69
  • Program expense ratio: 40.5%; rating input score 40
  • Fundraising efficiency: $4.98 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -31%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 6.82; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 55.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -157.9% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 68.9% of revenue deployed · 40.5% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $759K in reported program spending
  • Leadership: top reported pay $438K · 7 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.