Nereids Inc

Nonprofit profile at a glance

EIN
203161496
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Waveland, MS, USA
Phone
2284930815
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Reported finances

Revenue
$443,268
Expenses
$445,771
Assets
$429,241
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JEANNE RICHARDSON (PRESIDENT)
  • MICHELE SEAL (VICE PRESIDENT)

People named in this filing

  • MARIA LOTT (CAPTAIN)
  • JEANNE RICHARDSON (PRESIDENT)
  • MICHELE SEAL (VICE 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

Hold a carnival ball and parade during mardi gras season annually.

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

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.9%; rating input score 92
  • Program expense ratio: 91.4%; rating input score 91
  • Fundraising efficiency: $4.63 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.6%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.96; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 91.9% of revenue deployed · 91.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $407K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2012 to 2024
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.