Schooner Inc

Nonprofit profile at a glance

EIN
510163457
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
New Haven, CT, USA
Phone
2038651737
Rating confidence
Limited
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$438,069
Expenses
$407,762
Assets
$273,315
Liabilities
$224,125

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

16 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Schooner Inc is to promote Environmental Literacy and Character Development through Education and Public Access to Long Island Sound and its watershed.

What it reported doing in 2012

Environmental Education for Youth (SEA Camps and K-12 programs) & Public Access Programs

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 68
  • Sustainability: 42
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.9%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.4% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 13 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $314K in reported program spending
  • Leadership: top reported pay $51K · 16 people listed
  • Consistency: 37 of 37 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2010 to 2012
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.