Pearls Unlimited Inc

Nonprofit profile at a glance

EIN
260314060
IRS 990 coverage
2011–2019
Forms available
Form 990 2019
Location
San Diego, CA, USA
Phone
2137035719
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Developmentally Disabled Centers

Reported finances

Revenue
$524,607
Expenses
$520,773
Assets
$22,639
Liabilities
$30,453

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Aeriaka Jacobs (President)

People named in this filing

  • Aeriaka Jacobs (President)
  • Bennie L Jolly III (Director)
  • Daphne Moyd (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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Pearls Unlimited, Inc. provides enhanced quality of life opportunities to at risk populations that will empower and maximize their quality of life through access to educational resources and mentoring; This includes the disadvantaged, disabled, youth and aging populations.

What it reported doing in 2019

During the reporting period, the organization recruited San Diego city high school students to serve as mentors/community companions for residents in community based activities which included the movies, neighborhood swimming and shopping outings. Students received monthly stipends of $200.Additionally, the organization participated in annual food, toys, clothes, and hygiene weekends.

Operating model

Revenue model
Earned-program. 94% 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: 72
  • Transparency & Controls: 82
  • Accountability: 66
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81%; rating input score 81
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 17th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: 0.7%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 1.35; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 81% of revenue deployed · 81.6% of spending went to programs
  • Governance: 5 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $425K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2011 to 2019
  • 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.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: California registration: this organization is not authorized to operate as a charity in California.