Openet Inc

Nonprofit profile at a glance

EIN
872247137
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
7024838580
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Water Resource, Wetlands Conservation and Management

Official website

Reported finances

Revenue
$2,308,942
Expenses
$2,104,515
Assets
$1,582,842
Liabilities
$103,018

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

Leadership & pay

10 people listed

Executive titles in this filing

  • SARA LARSEN (CEO)

Highest reported compensation

  • SARA LARSEN (CEO): $178,477 total reported compensation

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

Overview

Mission

Training and basic support, and ongoing research to support best available science. Openet can be used by local or regional water managers, water users, local stakeholders, policymakers, growers, and corporates.

What it reported doing in 2024

Ui maintenance and updates: launch of the application programing interface occurred in this tax period, as well as maintenance and updates of ui platforms, including the api and the data explorer. Updates to these platforms are consistently implemented to improve speed and use experience. These improvements include updates to the geodatabase, cloud processing improvements, and updates to the data explorer backend.

Operating model

Revenue model
Earned-program. 68% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.1%; rating input score 66
  • Program expense ratio: 72.5%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Pass
    • 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: 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 41.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 42.4% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 66.1% of revenue deployed · 72.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $178K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.