Next Farm Initiative Inc

Nonprofit profile at a glance

EIN
823384597
IRS 990 coverage
2018–2022
Forms available
Form 990 2022
Location
Indianapolis, IN, USA
Phone
3176961933
Rating
34
Verdict
REVIEW
Rating confidence
Moderate
Sector
Rehabilitation Services for Offenders

Reported finances

Revenue
$-807,170
Expenses
$137,531
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • SUSAN WILLIAMS (CHAIR)
  • SALLY WINTER (SECRETARY)
  • LILY PAI (TREASURER)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Next farm initiative, inc. Uses urban farming to provide holistic support anchored in mental wellness that equip young, justice-involved women to achieve a lifetime of economic security.

What it reported doing in 2022

Next farm initiative, inc. Offered holistic support to at-risk, 18-24 year-old women so they could achieve economic independence. Using the microcosm of a residential urban farm as a learning lab, participants worked together to run a small business enterprise, gained key life and employability skills, built personal resilience, and provided fresh, healthy food to their neighbors. The organization is no longer in operation and all property has been sold with the remaining assets contributed to another public charity.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

REVIEW - Most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 4
  • Transparency & Controls: 59
  • Accountability: 70
  • Sustainability: 18
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.7%; rating input score 5
  • Program expense ratio: 4.2%; rating input score 4
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 20th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Fail
    • 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: -117%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -71.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -7,112.3% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -20.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 4.7% of revenue deployed · 4.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2018 to 2022
  • 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 — Financial Efficiency: Mission deployment rate scored 5/100.
  • High — Financial Efficiency: Program expense ratio scored 4/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.