Ride Solution Inc

Nonprofit profile at a glance

EIN
592443380
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Palatka, FL, USA
Phone
3863252249
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Transportation Assistance

Reported finances

Revenue
$2,577,652
Expenses
$2,639,977
Assets
$2,872,880
Liabilities
$222,764

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

Leadership & pay

10 people listed

People named in this filing

  • BOYD THOMPSON (EXECUTIVE DI)
  • CAROL COFFIE (CHAIR/PRESID)
  • WAYNE MCCLAIN (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide transportation to disadvantaged individuals so that they can obtain access to healthcare, education, employment, shopping, and other activities.

What it reported doing in 2024

The organization provided transportation services to disabled, poor, and aged citizens in and around palatka, Florida.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.4%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 1.09; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 86% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.