Second Chance Pet Adoptions Inc

Nonprofit profile at a glance

EIN
561671883
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9198518404
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Animal Protection and Welfare

Reported finances

Revenue
$1,026,194
Expenses
$1,104,540
Assets
$2,062,423
Liabilities
$61,405

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Nick Costa (Board President)
  • Bill Foley (Vice President)

People named in this filing

  • Nick Costa (Board President)
  • Bill Foley (Vice President)
  • David Holmes (Treasurer)

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 champion homeless cats and dogs who are healthy or treatable in the quest to find their forever homes and engage with our community to provide responsible pet ownership reducing future generations of homeless animals.

What it reported doing in 2024

Second Chance Pet Adoptions continues our essential mission of saving lives of cats and dogs by providing them with shelter, medical care, food, socialization, love and finding them their forever homes. The organization welcomes all breeds of cats and dogs, accepting stray and abandoned animals found by community members or by pulling animals from government shelters. Second Chance accepts healthy animals as well as animals in need of special care such as those requiring surgery, treatments such as for heartworms and specialized diets. Pregnant, nursing animals and newborns needing to be bottle fed are also provided care within our program. Second Chance commits to each animal for their entire lives, taking them back into our program if the adoptive parents can no longer care for them. We also work with several government run shelters to take their animals into our program, decreasing euthanasia rates by freeing space in those shelters and by taking animals which require medical procedures that these shelters can not provide. Second Chance also collaborates with other rescues and non-profits to save dogs from high kill shelters by pulling, quarantining, providing medical care and love, and transferring them to other areas in the country for adoption. In addition, Second Chance supports programs to spay/neuter owned and feral animals to help manage the population of unwanted animals.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 89% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 87
  • Accountability: 88
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $4.63 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.2%; rating input score 88; 37th percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.6%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.87; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 9% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 80.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $890K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 46 of 47 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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: Fundraising efficiency scored 16/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.