Rio Farms Inc

Nonprofit profile at a glance

EIN
741002714
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Edcouch, TX, USA
Phone
9562621387
Rating
59
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$4,943,750
Expenses
$2,759,917
Assets
$66,904,937
Liabilities
$11,305,905

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

Leadership & pay

6 people listed

Highest reported compensation

  • MATT KLOSTERMANN (PRES/GEN MGR): $205,000 total reported compensation
  • BARRY DICKERSON (DIRECTOR): $24,000 total reported compensation
  • GLENN WILDE (DIRECTOR): $24,000 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 betterment of the condition of pursuits, improving the grade of agri products, and development of a higher degree of efficiency in the agricultural community.

What it reported doing in 2024

During the year rio farms inc performed various agricultural research projects and demonstrated various farming practices and the viability of various plant varieties.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program 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

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 43
  • Transparency & Controls: 66
  • Accountability: 76
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.3%; rating input score 36
  • Program expense ratio: 69.4%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.2%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 24.24; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: -29.2% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 36.3% of revenue deployed · 69.4% of spending went to programs
  • Governance: 5 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $205K · 6 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.