Southeast Lighthouse Foundation

Nonprofit profile at a glance

EIN
222933316
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Block Island, RI, USA
Phone
4014665009
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Reported finances

Revenue
$96,086
Expenses
$235,440
Assets
$3,510,125
Liabilities
$307,300

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Gerald F Abbott (President)
  • Pamela L Gasner (Vice-President)

People named in this filing

  • Gerald F Abbott (President)
  • Pamela L Gasner (Vice-President)
  • Eliot Nurenberg (Secretary)

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 restore, preserve and protect the Southeast Lighthouse on Block Island; to increase the community's awareness, knowledge, and interest in the Lighthouse; to ensure access to the community and use of the property for charitable, educational and scientific purposes.

What it reported doing in 2024

Maintain the grounds of the Southeast Lighthouse on Block Island, RI, providing access to the public. The Southeast Lighthouse is situated in a fragile eco-system, with encroaching bluffs threatening the site. The public has free access to the grounds.

Operating model

Revenue model
Other-operating. 79% of the money available for current operations came from other operating revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 64.5%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -145%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 14.91; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 14.4% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: -20.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 64.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $152K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.