Reefci Inc

Nonprofit profile at a glance

EIN
813337647
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Hebron, KY, USA
Phone
5133349393
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Water Resource, Wetlands Conservation and Management

Official website

Reported finances

Revenue
$1,091,557
Expenses
$909,425
Assets
$1,866,288
Liabilities
$871,661

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

Leadership & pay

3 people listed

People named in this filing

  • ANTHONY SANER (Executive Dir.)
  • DEBRA SANER (Treasurer)
  • NICOLE SMITH (Secretary)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The ultimate goal is to utilize scientifically researched based approachesto conserve and protect fragile marine ecosystems, namely coral reefs. Ourongoing marine conservation projects include: spearfishing for the invasivelionfish; reef check surverys; queen conch surveys; coral watch datacollections; lobster serveys; sea turtle watch and whale shark watch. Wegain a greater understanding of the overall health of reef ecosystems anddevise action plans where needed.

What it reported doing in 2024

Spearfishing for the invasive lionfish; reef check surveys; queen conch surveys; coral watch data collection; lobster surveys; sea turtle watch and whale shark watch.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 51
  • Accountability: 76
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 83
  • Program expense ratio: 97.3%; rating input score 97
  • Fundraising efficiency: $80.37 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.7%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 2.05; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 27.3% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 82.5% of revenue deployed · 97.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $884K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 9 filing years from 2016 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.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.