Riddicks Folly

Nonprofit profile at a glance

EIN
510228079
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Suffolk, VA, USA
Phone
7579340822
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$136,507
Expenses
$73,814
Assets
$978,585
Liabilities
$2,487

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

Leadership & pay

16 people listed

Executive titles in this filing

  • FREDERICK D TAYLOR (President)
  • BILL BAILEY (Vice President)

Highest reported compensation

  • EDWARD L KING (CURATOR): $28,646 total reported compensation

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

Overview

Mission

The mission is to provide a tangible link to our community's history through the portrayal of the 19th century riddick family home. We promote educational, cultural and charitable interests and provide programs that foster appreciation for the history of our city.

What it reported doing in 2024

Museum operation

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 58
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.4%; rating input score 52
  • Program expense ratio: 69.4%; rating input score 69
  • Fundraising efficiency: $17.29 raised per $1 spent on fundraising; rating input score 54; 54th 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: Limited
  • 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: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 13.26; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 38.8%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -1.5% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 52.4% of revenue deployed · 69.4% of spending went to programs
  • Governance: 17 of 17 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $51K in reported program spending
  • Leadership: top reported pay $29K · 16 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.