South Florida Progress Foundation Inc

Nonprofit profile at a glance

EIN
596216592
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Miami, FL, USA
Phone
3053507700
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$287,131
Expenses
$276,206
Assets
$166,666
Liabilities
$2,500

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ALFRED SANCHEZ (PRESIDENT)

Highest reported compensation

  • ALFRED SANCHEZ (PRESIDENT): $401,884 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 foundation works to leverage its relationship with south Florida professionals and civic leaders to identify top issues, prioritize them through consensus, and then develop and implement solutionsthrough programmatic activity, all funded by member donations, endowments and grants. Through strategic partnerships with local organizations committed to the betterment of south Florida, the effectiveness of and need for the foundation's various initiatives are reviewed and prioritized annually. These initiatives include:1. South Florida quality of life issues: o educationo transportationo expansion and enhancement of cultural offeringso environmental issueso hurricane preparedness and recovery2. Diversity issues3. College scholarships for students interested in pursing careers inbusiness, law or government

What it reported doing in 2024

Unrestricted fund - supports high quality education for all. This includes development of talent and retention of talent in south Florida. The committee seeks to build relationships with professionals and businesses in order to advocate, and seek funding for education causes, as well as seeking to implement these causes to benefit the economic development of our ever-evolving community.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 65
  • Accountability: 88
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.8%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 15.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 83.1% of spending went to programs
  • Governance: 7 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $229K in reported program spending
  • Leadership: top reported pay $402K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.