San Diego Angels Inc Dba Nufund Venture Group

Nonprofit profile at a glance

EIN
912172015
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
San Diego, CA, USA
Phone
7608031279
Rating
30
Verdict
REVIEW
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$666,273
Expenses
$642,110
Assets
$784,334
Liabilities
$342,951

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • SERHAT PALA (PRESIDENT)
  • ASHOK KAMAL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ASHOK KAMAL (EXECUTIVE DIRECTOR): $293,134 total reported compensation
  • DONALD ANDERSON (OPERATIONS MANAGER): $100,502 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fostering capital formation, investor education, and access to capital for small businesses in southern California.

What it reported doing in 2025

Education of startup founders regarding what types of opportunities are likely to attract capital and succeed. In addition, it held a quick pitch competition in which a number of small companies seeking investment were coached in their presentation skills, and then judged by the members of the public. Quarterly meetings are held to review and judge business plans, coaching small companies, attempting to achieve investment. Ad hoc meetings were held doing due diligence on companies and providing feedback and coaching.

Operating model

Revenue model
Membership-supported. 84% of the money available for current operations came from membership dues.
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

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 16
  • Transparency & Controls: 60
  • Accountability: 5
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.5%; rating input score 18
  • Program expense ratio: 18.7%; rating input score 19
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.6%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.22; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 61.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 9.5% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 18.5% of revenue deployed · 18.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $120K in reported program spending
  • Leadership: top reported pay $293K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 18/100.
  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.