Polywogs Charities Inc

Nonprofit profile at a glance

EIN
461681461
IRS 990 coverage
2023–2025
Forms available
Form 990 2025, Form 990-EZ 2022
Location
St Petersburg, FL, USA
Phone
4106089624
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$441,668
Expenses
$332,379
Assets
$230,327
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • JEFF PAONESSA (PRESIDENT)

People named in this filing

  • JEFF PAONESSA (PRESIDENT)
  • PHIL POWELL (IMMED PAST P)
  • LEE MARTINO (VICE PRESIDE)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To hold fundraising events and solicit contibutions to fund grants to local 501(c)(3) charitable organizations that serve children.

What it reported doing in 2025

The organization supported six local 501(c)(3) charitable organizations with contributions of 45,000 each, and aother local 501(c)(3) charitable organization with 60,000.

Operating model

Revenue model
Donor-supported. 82% 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.
  • 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. 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: 85
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.3%; rating input score 75
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: $435.53 raised per $1 spent on fundraising; rating input score 95; 95th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st 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: 24.7%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 23.1% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 15.2% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 35.5% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 75.3% of revenue deployed · 99.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $330K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 8 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.