Natural State Ltd

Nonprofit profile at a glance

EIN
850544797
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2020
Location
Washington, DC, USA
Phone
2316700974
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Research Institutes and/or Public Policy Analysis

Official website

Reported finances

Revenue
$8,154,315
Expenses
$4,007,600
Assets
$8,314,676
Liabilities
$1,301,236

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JONATHAN E BAILLIE (President)

Highest reported compensation

  • JONATHAN E BAILLIE (President): $409,488 total reported compensation
  • BEATRICE KARANJA (Director): $7,680 total reported compensation

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

Overview

Mission

Through large-scale restoration and rewilding, natural state secures biodiversity, sequesters and stores carbon, and helps achieve the sustainable development goals. Natural state is helping restore and rewild a minimum of 1,000,000 acres.

What it reported doing in 2024

Natural state has helped 10 sites become sustainably financed over 200 young professionals ready to lead large-scale restoration projects

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 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

MIXED - A large share of total spending goes to programs and program spending has grown recently. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 32
  • Accountability: 48
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.6%; rating input score 48
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: $65.97 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 1st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 0 of 9 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 50.9%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 2.07; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 70.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 43.3% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 50.5% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 47.6% of revenue deployed · 96.9% of spending went to programs
  • Governance: 5 of 6 board members independent · 0 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.9M in reported program spending
  • Leadership: top reported pay $409K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes foreign activity and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.