New Varieties Development & Management Corp

Nonprofit profile at a glance

EIN
203767882
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Maitland, FL, USA
Phone
3212145200
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Garden Club, Horticultural Program

Reported finances

Revenue
$632,022
Expenses
$629,658
Assets
$355,607
Liabilities
$226,920

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

Leadership & pay

13 people listed

People named in this filing

  • RUSTY BANACK (DIRECTOR)
  • ALEX BROWN (DIRECTOR)
  • STEVEN CALLAHAM (DIRECTOR)

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

Grower support: to provide financial and strategic support to Florida's in-state breeding programs. New varieties: to identify promising citrus selections for Florida producers and introduce new varieties. Affordable and accessible: to provide timely and affordable access to proprietary citrus varieties.

What it reported doing in 2024

Nvdmc supports new variety development research in Florida by providing Florida citrus growers unique and high value varieties for fresh and processed uses. Nvdmc serves as the licensing agent for domestic and international public and private varieties, providing growers and nurseries access to proprietary fresh fruit varieties, while also introducing citrus varieties for commercial growers to trial through the fast track program with the university of Florida and early evaluation opportunities with selections developed by the udsa agricultural research service.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.4%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 93% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $585K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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 7 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.