Redcon1 Foundation Incorporated
Nonprofit profile at a glance
- EIN
- 844322932
- IRS 990-EZ coverage
- 2020–2021
- Forms available
- Form 990-EZ 2021
- Location
- Boca Raton, FL, USA
- Phone
- 8557332661
- Rating
- 92
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $46,132
- Expenses
- $96,756
- Assets
- $6,875
- Liabilities
- $19,151
Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- HONORABLE ROBERT WILKINS (FOUNDING PRESIDENT)
- ERIC HART (VICE PRESIDENT)
People named in this filing
- HONORABLE ROBERT WILKINS (FOUNDING PRESIDENT)
- JONATHAN MANFRE ESQ (SECRETARY)
- ERIC HART (VICE PRESIDENT)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization's purpose is to provide financial assistance to military families that have experienced a hardship. Initially, it is our goal to help one individual family each month. As our foundation expands, we hope to extend our outreach to multiple families per month.to maximize our impact on current efforts, we may seek to collaborate with other non-profit organizations which fall under the 501(c)(3) section of the internal revenue code and are operated exclusively for educational and charitable purposes.
What it reported doing in 2021
Shield of honor program: redcon1 foundation provided financial assistance directly to military veterans in need through our shield of honor program. Recipients are military families that have been nominated by their peers and carefully selected by the redcon1 foundation board of directors to receive financial donation after experiencing a hardship.
Operating model
- Revenue model
- Donor-supported. 63% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 7
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -109.7%; rating input score 8; 8th percentile among comparable filings
- Total-asset coverage ratio: 0.07; rating input score 8; 8th percentile among comparable filings
- Liabilities to assets ratio: 2.79; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 51.7%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 21.6% per year; rating input score 100; 86th percentile among comparable filings
- Revenue growth: -86.6% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: -146.3% per year; rating input score 0; 1st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $97K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2020 to 2021
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 8/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 8/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- High — Sustainability: Officer compensation ratio scored 3/100.