Padi Aware Foundation

Nonprofit profile at a glance

EIN
330540475
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Rancho Santa Margarita, CA, USA
Phone
9498587657
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,374,315
Expenses
$1,435,904
Assets
$829,537
Liabilities
$97,675

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DREW RICHARDSON (PRESIDENT/CHAIRMAN)

Highest reported compensation

  • DANNA MOORE (GLOBAL OPERATIONS DIRECTOR): $118,311 total reported compensation

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

Overview

Mission

Our mission to 'drive local action for global ocean conservation' is carried out through citizen science, public policy, and community grants. For over 30 years, padi and aware have built a truly unique voice for the protection of the underwater world. Together, we have set ambitious ocean conservation targets through a shared blueprint for ocean action that provides the framework to tackle key threats to the ocean and create ocean change in our dive communities around the world.

What it reported doing in 2024

Vulnerable species (sharks and rays): over a third of all known shark and ray species are facing an increased risk of extinction, making them the second most vulnerable group of animals on the planet. Populations are continuously impacted by overfishing, loss of critical habitats, climate change and pollution. Immediate action to prevent extinctions is needed to protect sharks and rays that play a vital role in many countries' economies, as well as helping secure food security, functioning ecosystems and cultural heritage. To combat this ocean emergency, padi aware is proud to introduce the global shark & ray census, a global citizen science program that aims to monitor shark and ray populations and to ensure they are protected from extinction. Both divers and non-divers will be able to collect sightings data on the species they encounter, or take part in monitoring sites to track population trends. The data will undergo rigorous scientific analysis and will be used to ensure vulnerable species of sharks and rays have adequate protection to ensure healthy populations.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 67% for direct work, and 33% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 79.2%; rating input score 79
  • Fundraising efficiency: $10.94 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 79.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $118K · 5 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.