Shipping Venture Corporation

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

3 people listed

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Shipping venture corporation invest funds for the benefit of president and fellows of harvard college, a related 501(c)(3) supported organization.

Shipping venture corporation invests funds for the benefit of president and fellows of harvard college, a related 501(c)(3) supported organization.

Revenue model: No positive adjusted resources. The filing reports no positive adjusted operating resources.
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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 88.9%; rating input score 89; 9th 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

Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass

Operating margin: Limited
Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
Liabilities to assets ratio: Limited
Officer compensation ratio: 5,246,922.9%; rating input score 0; 0th percentile among comparable filings

Program expense growth: -35.8% per year; rating input score 0; 13th percentile among comparable filings
Revenue growth: -16.3% per year; rating input score 0; 25th percentile among comparable filings
Asset growth: -22.5% per year; rating input score 0; 7th percentile among comparable filings

Where the money goes: 100% of spending went to programs
Governance: 0 of 3 board members independent · 6 of 9 filing controls reported
Programs: 1 filed program accomplishment · $35 in reported program spending
Leadership: top reported pay $10.5M · 3 people listed · 0 of 6 pay-setting controls reported
Consistency: 12 of 13 current checks pass · 1 finding to review
Schedules: 6 filed schedules · includes executive pay
Filing history: 13 filing years from 2009 to 2021
Contacts: How to reach this organization
Related organizations: 242 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.

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

High — Accountability: Independent voting board scored 0/100.
High — Transparency & Controls: Pay-setting controls scored 0/100.
High — Sustainability: Total-asset coverage ratio scored 3/100.
Review — Accountability: Governance controls: 3 of 9 not reported.
High — Growth: Program expense growth scored 0/100.
High — Growth: Revenue growth scored 0/100.
Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
High — Sustainability: Officer compensation ratio scored 0/100.
High — Growth: Asset growth scored 0/100.