Ocean Reef Community Foundation Inc

Nonprofit profile at a glance

EIN
650509255
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Key Largo, FL, USA
Phone
3053676303
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$14,704,045
Expenses
$15,191,780
Assets
$121,685,629
Liabilities
$29,194,625

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

Leadership & pay

26 people listed

Executive titles in this filing

  • RICHARD WEINSTEIN (PRESIDENT AND COO)
  • YURIANNA MIKOLAY (EXECUTIVE DIRECTOR/SECRETARY)
  • WILLIAM J NUTT (CHAIRMAN AND CEO)
  • THOMAS N DAVIDSON SR (EXECUTIVE VICE PRESIDENT)
  • JANIE SIMS (EXECUTIVE VICE PRESIDENT)
  • STEPHEN G WOODSUM (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • RICHARD WEINSTEIN (PRESIDENT AND COO): $199,074 total reported compensation
  • YURIANNA MIKOLAY (EXECUTIVE DIRECTOR/SECRETARY): $134,450 total reported compensation
  • LESA CRAYNE (DIRECTOR OF ALL CHARITIES): $124,386 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 promote and enhance responsible and effective philanthropy for members of the ocean reef community.

What it reported doing in 2024

To provide support for code section 501(c)(3) organizations and other not for profit organizations that benefit the community of ocean reef and the surrounding area, as well as other charitable organizations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 73
  • Accountability: 95
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: $10.42 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.7%; rating input score 98; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.3%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 8.01; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 92.8% of spending went to programs
  • Governance: 22 of 24 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $14.1M in reported program spending
  • Leadership: top reported pay $199K · 26 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $776K reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 172 filed money-flow records
  • Related organizations: 169 filed related-organization links
  • 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: Fundraising efficiency scored 39/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.